Starbucks Corporation (NASDAQ:SBUX) Shares Sold by Heritage Trust Co

Key Points

• Heritage Trust Co reduced its stake in Starbucks by 4.0%, owning 77,446 shares worth approximately $7.6 million as of the end of the first quarter.
• Starbucks reported a quarterly EPS of $0.50, missing estimates of $0.64, while its revenue increased to $9.46 billion.
• Analysts have mixed views on Starbucks, with price targets ranging from $90.00 to $115.00, and a consensus rating of "Hold" with a price target of $101.27.

Heritage Trust Co trimmed its stake in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 4.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 77,446 shares of the coffee company's stock after selling 3,206 shares during the period. Starbucks accounts for 0.9% of Heritage Trust Co's holdings, making the stock its 24th biggest position. Heritage Trust Co's holdings in Starbucks were worth $7,597,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of SBUX. University of Texas Texas AM Investment Management Co. acquired a new position in Starbucks during the fourth quarter worth $25,000. Hughes Financial Services LLC acquired a new stake in Starbucks during the first quarter worth about $27,000. Kapitalo Investimentos Ltda acquired a new stake in Starbucks during the fourth quarter worth about $32,000. Ball & Co Wealth Management Inc. acquired a new stake in Starbucks during the fourth quarter worth about $41,000. Finally, Accredited Wealth Management LLC acquired a new stake in Starbucks during the fourth quarter worth about $44,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Stock Performance

Starbucks stock traded up $0.30 during trading hours on Tuesday, reaching $90.08. 2,104,308 shares of the stock were exchanged, compared to its average volume of 10,636,502. The stock has a market cap of $102.39 billion, a P/E ratio of 38.79, a P/E/G ratio of 4.95 and a beta of 1.02. Starbucks Corporation has a 52-week low of $73.84 and a 52-week high of $117.46. The firm's 50 day moving average is $91.83 and its 200 day moving average is $94.55.

Starbucks (NASDAQ:SBUX - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The coffee company reported $0.50 EPS for the quarter, missing analysts' consensus estimates of $0.64 by ($0.14). The firm had revenue of $9.46 billion for the quarter, compared to analysts' expectations of $9.29 billion. Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%. The firm's quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.93 EPS. Equities research analysts expect that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be paid a dividend of $0.61 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.7%. Starbucks's dividend payout ratio is 105.17%.

Analyst Ratings Changes

SBUX has been the subject of several recent analyst reports. Baird R W cut shares of Starbucks from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 7th. Bank of America raised their price objective on shares of Starbucks from $101.00 to $110.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. Guggenheim lifted their price target on shares of Starbucks from $79.00 to $90.00 and gave the company a "neutral" rating in a research report on Thursday, July 31st. Wells Fargo & Company lifted their price target on shares of Starbucks from $100.00 to $105.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. Finally, Sanford C. Bernstein raised their price objective on shares of Starbucks from $90.00 to $100.00 and gave the company an "outperform" rating in a research note on Wednesday, July 2nd. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $101.27.

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.