WASHINGTON TRUST Co Sells 1,327 Shares of Starbucks Co. (NASDAQ:SBUX)

WASHINGTON TRUST Co cut its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 11.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,151 shares of the coffee company’s stock after selling 1,327 shares during the quarter. WASHINGTON TRUST Co’s holdings in Starbucks were worth $926,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of SBUX. Cornerstone Wealth Management LLC raised its holdings in Starbucks by 4.7% during the third quarter. Cornerstone Wealth Management LLC now owns 5,671 shares of the coffee company’s stock valued at $553,000 after acquiring an additional 252 shares during the period. Harbour Capital Advisors LLC bought a new stake in shares of Starbucks in the third quarter worth about $230,000. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of Starbucks by 4.5% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 127,248 shares of the coffee company’s stock worth $12,405,000 after purchasing an additional 5,534 shares during the last quarter. Onyx Bridge Wealth Group LLC bought a new stake in shares of Starbucks in the third quarter worth about $226,000. Finally, Claro Advisors LLC increased its holdings in shares of Starbucks by 35.8% in the third quarter. Claro Advisors LLC now owns 16,955 shares of the coffee company’s stock worth $1,653,000 after purchasing an additional 4,474 shares during the last quarter. 72.29% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on SBUX shares. BMO Capital Markets lifted their target price on Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Redburn Atlantic reaffirmed a “sell” rating and issued a $77.00 target price (down from $84.00) on shares of Starbucks in a report on Wednesday, November 13th. Stifel Nicolaus lifted their target price on Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a report on Monday, January 27th. UBS Group lifted their price target on Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Finally, TD Cowen reiterated a “buy” rating and issued a $110.00 price target on shares of Starbucks in a research report on Monday, November 11th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $105.33.

Starbucks Stock Performance

Shares of NASDAQ SBUX opened at $112.55 on Friday. The firm has a market capitalization of $127.85 billion, a price-to-earnings ratio of 36.31, a PEG ratio of 3.52 and a beta of 1.00. The stock has a 50 day moving average price of $98.28 and a 200 day moving average price of $95.87. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $113.47.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01. Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. During the same period in the prior year, the business earned $0.90 earnings per share. Analysts forecast that Starbucks Co. will post 3 earnings per share for the current year.

Starbucks Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be paid a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date is Friday, February 14th. Starbucks’s dividend payout ratio (DPR) is 78.71%.

Insider Buying and Selling

In related news, CFO Rachel Ruggeri sold 1,491 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $99.54, for a total value of $148,414.14. Following the completion of the transaction, the chief financial officer now owns 80,124 shares of the company’s stock, valued at $7,975,542.96. The trade was a 1.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.09% of the stock is currently owned by insiders.

About Starbucks

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of coffee worldwide. The company operates through three segments: North America, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole beans and ground coffees, single serve products, and ready-to-drink beverages; and various food products, such as pastries, breakfast sandwiches, and lunch items.