Truist Financial Corp Sells 110,071 Shares of Starbucks Co. (NASDAQ:SBUX)

Truist Financial Corp cut its holdings in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 12.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 751,718 shares of the coffee company's stock after selling 110,071 shares during the period. Truist Financial Corp owned about 0.07% of Starbucks worth $72,172,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of SBUX. Flossbach Von Storch AG grew its position in Starbucks by 8,677.8% during the 4th quarter. Flossbach Von Storch AG now owns 2,715,405 shares of the coffee company's stock worth $260,706,000 after acquiring an additional 2,684,470 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC bought a new stake in Starbucks during the 3rd quarter worth $147,125,000. Nordea Investment Management AB grew its position in Starbucks by 44.8% during the 4th quarter. Nordea Investment Management AB now owns 5,146,033 shares of the coffee company's stock worth $493,350,000 after acquiring an additional 1,591,206 shares during the last quarter. Cerity Partners LLC grew its position in shares of Starbucks by 481.9% in the 4th quarter. Cerity Partners LLC now owns 1,547,411 shares of the coffee company's stock valued at $148,567,000 after buying an additional 1,281,471 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its position in shares of Starbucks by 32.7% in the 3rd quarter. Envestnet Asset Management Inc. now owns 4,679,621 shares of the coffee company's stock valued at $427,109,000 after buying an additional 1,154,020 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors.

Starbucks Price Performance

Shares of Starbucks stock traded up $0.41 during trading hours on Friday, reaching $88.25. The company had a trading volume of 7,185,257 shares, compared to its average volume of 7,387,159. Starbucks Co. has a one year low of $84.29 and a one year high of $115.48. The firm has a market cap of $99.92 billion, a PE ratio of 23.60, a price-to-earnings-growth ratio of 1.48 and a beta of 0.97. The business has a fifty day simple moving average of $90.36 and a 200 day simple moving average of $94.30.

Starbucks (NASDAQ:SBUX - Get Free Report) last issued its quarterly earnings data on Wednesday, January 31st. The coffee company reported $0.90 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.92 by ($0.02). Starbucks had a negative return on equity of 50.76% and a net margin of 11.70%. The business had revenue of $9.43 billion during the quarter, compared to analysts' expectations of $9.60 billion. During the same quarter last year, the business posted $0.75 EPS. The company's quarterly revenue was up 8.2% on a year-over-year basis. On average, research analysts forecast that Starbucks Co. will post 3.99 EPS for the current year.

Starbucks Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.28 dividend on an annualized basis and a yield of 2.58%. Starbucks's payout ratio is 60.96%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on SBUX shares. Guggenheim reduced their price target on Starbucks from $100.00 to $91.00 and set a "buy" rating on the stock in a research report on Friday, April 19th. TD Cowen reiterated a "hold" rating and issued a $100.00 price target on shares of Starbucks in a research report on Thursday, April 11th. Barclays cut their target price on Starbucks from $116.00 to $112.00 and set an "overweight" rating on the stock in a research report on Wednesday, January 31st. Royal Bank of Canada restated a "sector perform" rating and set a $102.00 target price on shares of Starbucks in a research report on Wednesday, January 31st. Finally, Stephens restated an "equal weight" rating and set a $110.00 target price on shares of Starbucks in a research report on Wednesday, January 31st. Fourteen investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $106.55.

Insider Buying and Selling at Starbucks

In other news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $85.39, for a total value of $277,517.50. Following the transaction, the chief executive officer now owns 81,199 shares in the company, valued at $6,933,582.61. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders have sold 7,250 shares of company stock worth $651,738 over the last 90 days. Corporate insiders own 1.98% of the company's stock.

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.