Starbucks Co. (NASDAQ:SBUX) Shares Sold by Hills Bank & Trust Co

Hills Bank & Trust Co decreased its position in Starbucks Co. (NASDAQ:SBUX) by 10.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,045 shares of the coffee company’s stock after selling 246 shares during the quarter. Hills Bank & Trust Co’s holdings in Starbucks were worth $199,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the company. Principal Securities Inc. raised its holdings in shares of Starbucks by 13.6% in the 3rd quarter. Principal Securities Inc. now owns 77,638 shares of the coffee company’s stock valued at $7,569,000 after purchasing an additional 9,308 shares in the last quarter. Stephens Inc. AR raised its stake in Starbucks by 7.2% in the third quarter. Stephens Inc. AR now owns 68,646 shares of the coffee company’s stock valued at $6,692,000 after buying an additional 4,607 shares in the last quarter. Aspen Wealth Strategies LLC lifted its holdings in Starbucks by 4.5% during the 3rd quarter. Aspen Wealth Strategies LLC now owns 4,451 shares of the coffee company’s stock worth $434,000 after buying an additional 191 shares during the last quarter. Rice Hall James & Associates LLC acquired a new position in shares of Starbucks during the 3rd quarter worth about $241,000. Finally, IRON Financial LLC increased its holdings in shares of Starbucks by 2.3% in the 3rd quarter. IRON Financial LLC now owns 8,189 shares of the coffee company’s stock valued at $798,000 after acquiring an additional 182 shares during the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on SBUX shares. Oppenheimer reaffirmed a “market perform” rating on shares of Starbucks in a report on Monday, August 26th. Bank of America lowered their target price on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a report on Tuesday, October 22nd. Morgan Stanley lifted their price target on shares of Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. BTIG Research upped their price objective on shares of Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Finally, JPMorgan Chase & Co. lifted their target price on Starbucks from $90.00 to $105.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $103.32.

Starbucks Stock Up 1.2 %

Shares of Starbucks stock opened at $98.87 on Friday. The firm has a market cap of $112.04 billion, a price-to-earnings ratio of 29.87, a price-to-earnings-growth ratio of 2.63 and a beta of 0.97. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $107.66. The company’s 50-day simple moving average is $95.98 and its 200-day simple moving average is $85.47.

Starbucks (NASDAQ:SBUX) last released its earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.80. The company had revenue of $9.07 billion for the quarter, compared to analysts’ expectations of $9.60 billion. Starbucks had a negative return on equity of 45.15% and a net margin of 10.40%. The firm’s quarterly revenue was down 3.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.06 EPS. Equities research analysts anticipate that Starbucks Co. will post 3.45 EPS for the current year.

Starbucks Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be given a $0.61 dividend. This is a boost from Starbucks’s previous quarterly dividend of $0.57. The ex-dividend date is Friday, November 15th. This represents a $2.44 annualized dividend and a yield of 2.47%. Starbucks’s dividend payout ratio is presently 68.88%.

Insider Buying and Selling at Starbucks

In related news, Director Jorgen Vig Knudstorp purchased 380 shares of the stock in a transaction dated Friday, September 6th. The shares were acquired at an average cost of $91.50 per share, with a total value of $34,770.00. Following the purchase, the director now directly owns 36,242 shares in the company, valued at $3,316,143. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the completion of the transaction, the chief executive officer now directly owns 75,054 shares of the company’s stock, valued at approximately $7,057,327.62. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Jorgen Vig Knudstorp bought 380 shares of the stock in a transaction on Friday, September 6th. The stock was purchased at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the acquisition, the director now directly owns 36,242 shares of the company’s stock, valued at $3,316,143. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. 1.98% of the stock is owned by corporate 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.