Equitable Trust Co. Has $2.56 Million Position in Starbucks Corporation (NASDAQ:SBUX)

Key Points

• Equitable Trust Co. sold 8,335 shares of Starbucks Corporation, reducing its holdings by 24.2% during the 1st quarter, leaving it with 26,071 shares valued at approximately $2.56 million.
• Several institutional investors, including University of Texas AM Investment Management Co. and Hughes Financial Services, have recently acquired new positions in Starbucks, contributing to 72.29% of the company's stock being owned by institutional investors.
• Starbucks announced a quarterly dividend of $0.61 per share, with a dividend yield of 2.58%, to be paid on August 29th, while analysts project an EPS of 2.99 for the current fiscal year.

Equitable Trust Co. decreased its holdings in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 24.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,071 shares of the coffee company's stock after selling 8,335 shares during the quarter. Equitable Trust Co.'s holdings in Starbucks were worth $2,557,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Capital Wealth Advisors purchased a new position in Starbucks in the fourth quarter valued at $285,000. Czech National Bank lifted its holdings in Starbucks by 6.2% during the 1st quarter. Czech National Bank now owns 260,898 shares of the coffee company's stock worth $25,591,000 after buying an additional 15,132 shares during the last quarter. Personal CFO Solutions LLC lifted its holdings in Starbucks by 125.5% during the 1st quarter. Personal CFO Solutions LLC now owns 9,254 shares of the coffee company's stock worth $908,000 after buying an additional 5,151 shares during the last quarter. Treasurer of the State of North Carolina lifted its holdings in Starbucks by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 498,511 shares of the coffee company's stock worth $45,489,000 after buying an additional 3,130 shares during the last quarter. Finally, Graybill Wealth Management LTD. purchased a new stake in shares of Starbucks in the 1st quarter valued at about $4,314,000. Institutional investors and hedge funds own 72.29% of the company's stock.

Starbucks Price Performance

NASDAQ SBUX traded up $0.26 on Wednesday, hitting $93.22. 26,001,494 shares of the stock were exchanged, compared to its average volume of 10,455,616. Starbucks Corporation has a 52-week low of $72.72 and a 52-week high of $117.46. The company has a market capitalization of $105.93 billion, a price-to-earnings ratio of 33.77, a P/E/G ratio of 6.48 and a beta of 1.02. The company's 50-day moving average price is $91.38 and its two-hundred day moving average price is $94.66.

Starbucks (NASDAQ:SBUX - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The coffee company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.14). Starbucks had a negative return on equity of 42.14% and a net margin of 8.61%. The firm had revenue of $9.46 billion for the quarter, compared to analysts' expectations of $9.29 billion. During the same quarter in the previous year, the firm posted $0.93 earnings per share. The company's revenue for the quarter was up 3.8% on a year-over-year basis. Equities analysts predict that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be given a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a yield of 2.62%. The ex-dividend date is Friday, August 15th. Starbucks's payout ratio is 88.41%.

Wall Street Analysts Forecast Growth

SBUX has been the topic of several recent research reports. Wells Fargo & Company boosted their price target on Starbucks from $100.00 to $105.00 and gave the company an "overweight" rating in a research report on Wednesday. Jefferies Financial Group cut Starbucks from a "hold" rating to an "underperform" rating and set a $76.00 target price on the stock. in a research report on Thursday, July 17th. Guggenheim lowered their price target on Starbucks from $95.00 to $83.00 and set a "neutral" rating on the stock in a report on Tuesday, April 29th. Citigroup reissued a "neutral" rating and set a $100.00 price target (up previously from $95.00) on shares of Starbucks in a research note on Monday, July 14th. Finally, BMO Capital Markets reduced their price target on Starbucks from $115.00 to $100.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, Starbucks currently has a consensus rating of "Hold" and an average price target of $100.12.

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.