First PREMIER Bank Has $663,000 Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

First PREMIER Bank lessened its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 20.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,519 shares of the coffee company’s stock after selling 2,246 shares during the quarter. First PREMIER Bank’s holdings in Starbucks were worth $663,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of SBUX. Scarborough Advisors LLC acquired a new stake in shares of Starbucks during the 4th quarter worth $26,000. Vima LLC bought a new stake in Starbucks during the fourth quarter worth $26,000. DSM Capital Partners LLC bought a new stake in shares of Starbucks in the fourth quarter valued at $27,000. Fairman Group LLC purchased a new position in Starbucks during the fourth quarter worth about $30,000. Finally, Cypress Capital Management LLC WY raised its holdings in shares of Starbucks by 133.1% during the 4th quarter. Cypress Capital Management LLC WY now owns 324 shares of the coffee company’s stock valued at $31,000 after buying an additional 185 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors.

Starbucks Price Performance

SBUX traded up $0.98 during trading on Thursday, hitting $94.88. The company’s stock had a trading volume of 21,070,244 shares, compared to its average volume of 12,034,914. The firm’s 50 day moving average price is $77.96 and its 200-day moving average price is $83.99. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $107.66. The stock has a market cap of $107.52 billion, a PE ratio of 26.14, a PEG ratio of 1.80 and a beta of 0.94.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, hitting the consensus estimate of $0.93. The firm had revenue of $9.11 billion for the quarter, compared to analysts’ expectations of $9.25 billion. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The firm’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.00 earnings per share. Equities analysts anticipate that Starbucks Co. will post 3.55 earnings per share for the current year.

Starbucks Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date of this dividend is Friday, August 16th. Starbucks’s dividend payout ratio is currently 62.81%.

Insiders Place Their Bets

In related news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $80.00, for a total transaction of $260,000.00. Following the transaction, the chief executive officer now owns 78,304 shares in the company, valued at approximately $6,264,320. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $80.00, for a total transaction of $260,000.00. Following the transaction, the chief executive officer now directly owns 78,304 shares of the company’s stock, valued at approximately $6,264,320. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Rachel Ruggeri sold 3,290 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total value of $299,916.40. Following the completion of the transaction, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. The disclosure for this sale can be found here. Insiders sold 10,540 shares of company stock worth $879,291 in the last quarter. 1.98% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on SBUX shares. JPMorgan Chase & Co. reduced their price target on Starbucks from $92.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, July 10th. Barclays upped their price objective on Starbucks from $93.00 to $110.00 and gave the company an “overweight” rating in a research report on Wednesday. UBS Group decreased their price objective on Starbucks from $95.00 to $85.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. Piper Sandler raised Starbucks from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $85.00 to $103.00 in a report on Tuesday. Finally, Bank of America raised their target price on Starbucks from $108.00 to $112.00 and gave the stock a “buy” rating in a report on Monday, June 10th. Twelve research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $98.79.

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.