OLD National Bancorp IN Has $1.27 Million Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

OLD National Bancorp IN trimmed its holdings in Starbucks Co. (NASDAQ:SBUX) by 9.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 13,899 shares of the coffee company’s stock after selling 1,445 shares during the quarter. OLD National Bancorp IN’s holdings in Starbucks were worth $1,268,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. Strategic Investment Solutions Inc. IL bought a new position in Starbucks in the 2nd quarter valued at about $25,000. DT Investment Partners LLC raised its stake in shares of Starbucks by 39.4% in the third quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock worth $42,000 after purchasing an additional 121 shares during the last quarter. FSA Wealth Management LLC bought a new position in shares of Starbucks in the third quarter valued at approximately $49,000. Friedenthal Financial purchased a new position in shares of Starbucks during the third quarter valued at approximately $50,000. Finally, Capital Performance Advisors LLP bought a new stake in Starbucks during the third quarter worth $71,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Rachel Ruggeri sold 1,491 shares of the company’s stock in a transaction 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 transaction, the chief financial officer now owns 80,124 shares of the company’s stock, valued at approximately $7,975,542.96. This represents a 1.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.98% of the company’s stock.

Starbucks Stock Performance

Shares of NASDAQ SBUX opened at $107.68 on Friday. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $110.34. The stock has a market cap of $122.31 billion, a PE ratio of 34.74, a price-to-earnings-growth ratio of 3.47 and a beta of 0.99. The stock has a fifty day moving average of $96.08 and a 200-day moving average of $93.11.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.01. Starbucks had a negative return on equity of 44.30% and a net margin of 9.73%. During the same quarter last year, the firm posted $0.90 earnings per share. On average, sell-side analysts predict that Starbucks Co. will post 3 EPS for the current year.

Starbucks Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be issued a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date of this dividend is Friday, February 14th. Starbucks’s dividend payout ratio (DPR) is presently 78.71%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on SBUX. Morgan Stanley raised their price objective on Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Bank of America dropped their price target on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a research report on Tuesday, October 22nd. BMO Capital Markets upped their price objective on shares of Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday. Wedbush lifted their target price on shares of Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday. Finally, Barclays increased their price target on Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a research report on Wednesday. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $105.33.

Starbucks Company Profile

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.