3,224 Shares in Starbucks Co. (NASDAQ:SBUX) Bought by Orrstown Financial Services Inc.

Orrstown Financial Services Inc. acquired a new position in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 3,224 shares of the coffee company's stock, valued at approximately $316,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of SBUX. Norges Bank bought a new stake in Starbucks during the 4th quarter worth $1,244,812,000. Capital World Investors grew its position in Starbucks by 20.1% during the 4th quarter. Capital World Investors now owns 54,924,230 shares of the coffee company's stock worth $5,011,796,000 after acquiring an additional 9,174,682 shares during the last quarter. FMR LLC lifted its holdings in Starbucks by 27.0% during the 4th quarter. FMR LLC now owns 25,128,649 shares of the coffee company's stock worth $2,292,989,000 after buying an additional 5,348,790 shares during the period. Capital Research Global Investors lifted its holdings in Starbucks by 167.6% during the 4th quarter. Capital Research Global Investors now owns 5,690,198 shares of the coffee company's stock worth $519,230,000 after buying an additional 3,563,942 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in Starbucks during the 4th quarter worth about $284,283,000. Institutional investors own 72.29% of the company's stock.

Starbucks Stock Performance

SBUX stock opened at $89.64 on Friday. The stock's 50 day simple moving average is $84.45 and its 200 day simple moving average is $95.17. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $117.46. The company has a market cap of $101.87 billion, a P/E ratio of 28.92, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00.

Starbucks (NASDAQ:SBUX - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The coffee company reported $0.41 earnings per share for the quarter, missing analysts' consensus estimates of $0.51 by ($0.10). The firm had revenue of $8.76 billion for the quarter, compared to analyst estimates of $8.90 billion. Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. The firm's quarterly revenue was up 2.3% compared to the same quarter last year. During the same period last year, the company posted $0.68 earnings per share. Equities analysts predict that Starbucks Co. will post 2.99 earnings per share for the current year.

Starbucks Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were issued a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date of this dividend was Friday, May 16th. Starbucks's dividend payout ratio is currently 88.41%.

Analysts Set New Price Targets

Several brokerages have commented on SBUX. The Goldman Sachs Group downgraded Starbucks from a "buy" rating to a "neutral" rating and cut their target price for the stock from $103.00 to $85.00 in a report on Wednesday, April 30th. Argus raised Starbucks from a "hold" rating to a "buy" rating and set a $115.00 target price on the stock in a report on Tuesday, March 18th. JPMorgan Chase & Co. cut their target price on Starbucks from $105.00 to $100.00 and set an "overweight" rating on the stock in a report on Wednesday, April 30th. Citigroup cut their target price on Starbucks from $88.00 to $84.00 and set a "neutral" rating on the stock in a report on Wednesday, April 30th. Finally, Royal Bank of Canada downgraded Starbucks from an "outperform" rating to a "sector perform" rating in a report on Thursday, May 29th. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $97.92.

Starbucks 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.

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