Heritage Trust Co Takes $7.36 Million Position in Starbucks Co. (NASDAQ:SBUX)

Heritage Trust Co purchased a new stake in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 80,652 shares of the coffee company's stock, valued at approximately $7,360,000. Starbucks makes up about 0.9% of Heritage Trust Co's investment portfolio, making the stock its 25th biggest position.

A number of other large investors also recently added to or reduced their stakes in SBUX. Pioneer Trust Bank N A OR boosted its holdings in shares of Starbucks by 0.8% during the fourth quarter. Pioneer Trust Bank N A OR now owns 11,312 shares of the coffee company's stock valued at $1,032,000 after acquiring an additional 92 shares during the period. Wintrust Investments LLC lifted its position in Starbucks by 7.1% in the fourth quarter. Wintrust Investments LLC now owns 1,411 shares of the coffee company's stock worth $128,000 after purchasing an additional 94 shares during the period. Kuhn & Co Investment Counsel lifted its position in shares of Starbucks by 2.3% in the 4th quarter. Kuhn & Co Investment Counsel now owns 4,240 shares of the coffee company's stock valued at $387,000 after acquiring an additional 96 shares in the last quarter. Wellington Shields & Co. LLC raised its stake in Starbucks by 8.6% during the 4th quarter. Wellington Shields & Co. LLC now owns 1,265 shares of the coffee company's stock valued at $115,000 after purchasing an additional 100 shares during the period. Finally, Mystic Asset Management Inc. boosted its position in shares of Starbucks by 3.9% in the fourth quarter. Mystic Asset Management Inc. now owns 2,665 shares of the coffee company's stock worth $243,000 after buying an additional 101 shares during the period. 72.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on SBUX shares. Baird R W cut Starbucks from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 7th. Argus upgraded Starbucks from a "hold" rating to a "buy" rating and set a $115.00 target price on the stock in a research note on Tuesday, March 18th. Robert W. Baird reiterated a "neutral" rating and set a $85.00 target price (down from $114.00) on shares of Starbucks in a research note on Monday, April 7th. Stifel Nicolaus decreased their price objective on Starbucks from $114.00 to $103.00 and set a "buy" rating on the stock in a report on Tuesday. Finally, UBS Group lifted their price target on shares of Starbucks from $98.00 to $105.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 29th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $104.24.

Starbucks Stock Performance

Shares of Starbucks stock traded down $2.56 during trading on Wednesday, reaching $81.15. 4,494,256 shares of the company's stock were exchanged, compared to its average volume of 11,439,702. The company has a market cap of $92.18 billion, a P/E ratio of 26.18, a PEG ratio of 3.59 and a beta of 1.00. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $117.46. The firm's 50-day moving average price is $101.07 and its 200 day moving average price is $98.60.

Starbucks (NASDAQ:SBUX - Get Free Report) last announced its earnings results on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.68 by $0.01. Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. During the same period in the previous year, the firm earned $0.90 EPS. As a group, equities research analysts predict that Starbucks Co. will post 2.99 EPS for the current year.

Starbucks Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be given a $0.61 dividend. This represents a $2.44 annualized dividend and a dividend yield of 3.01%. The ex-dividend date of this dividend is Friday, May 16th. Starbucks's dividend payout ratio (DPR) is presently 78.71%.

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.