Somerset Trust Co Has $498,000 Stake in Starbucks Co. (NASDAQ:SBUX)

Somerset Trust Co boosted its holdings in Starbucks Co. (NASDAQ:SBUX) by 10.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 5,462 shares of the coffee company’s stock after acquiring an additional 529 shares during the quarter. Somerset Trust Co’s holdings in Starbucks were worth $498,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of SBUX. Dimensional Fund Advisors LP lifted its position in shares of Starbucks by 8.5% during the second quarter. Dimensional Fund Advisors LP now owns 2,649,493 shares of the coffee company’s stock valued at $206,279,000 after purchasing an additional 207,156 shares in the last quarter. Waterloo Capital L.P. lifted its position in shares of Starbucks by 13.7% during the 2nd quarter. Waterloo Capital L.P. now owns 2,704 shares of the coffee company’s stock worth $210,000 after buying an additional 326 shares in the last quarter. Intech Investment Management LLC boosted its stake in shares of Starbucks by 4.1% in the 2nd quarter. Intech Investment Management LLC now owns 1,000,848 shares of the coffee company’s stock worth $77,916,000 after buying an additional 38,961 shares during the last quarter. Brighton Jones LLC grew its holdings in shares of Starbucks by 3.9% in the second quarter. Brighton Jones LLC now owns 154,017 shares of the coffee company’s stock valued at $11,990,000 after acquiring an additional 5,715 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. increased its position in shares of Starbucks by 9.2% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 115,435 shares of the coffee company’s stock valued at $8,987,000 after acquiring an additional 9,753 shares during the last quarter. Institutional investors own 72.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on SBUX shares. Jefferies Financial Group downgraded Starbucks from a “hold” rating to an “underperform” rating and reduced their price objective for the company from $80.00 to $76.00 in a research note on Tuesday, September 24th. Wells Fargo & Company raised their price objective on shares of Starbucks from $110.00 to $115.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. BTIG Research lifted their price objective on shares of Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. TD Cowen reissued a “buy” rating and set a $110.00 target price on shares of Starbucks in a research report on Monday, November 11th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Starbucks from $90.00 to $105.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $103.92.

Starbucks Trading Up 0.7 %

Shares of NASDAQ SBUX opened at $95.13 on Friday. The stock’s 50-day moving average is $95.89 and its 200 day moving average is $91.38. The stock has a market cap of $107.86 billion, a price-to-earnings ratio of 28.74, a P/E/G ratio of 2.73 and a beta of 0.99. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $103.32.

Starbucks (NASDAQ:SBUX) last released its earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.80. The company had revenue of $9.07 billion during the quarter, compared to analyst estimates of $9.60 billion. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. Starbucks’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.06 EPS. On average, analysts forecast that Starbucks Co. will post 3.1 EPS for the current fiscal year.

Starbucks Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be issued a dividend of $0.61 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.44 dividend on an annualized basis and a yield of 2.56%. Starbucks’s dividend payout ratio is presently 73.72%.

Insider Buying and Selling at Starbucks

In other news, CFO Rachel Ruggeri sold 1,491 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $99.54, for a total value of $148,414.14. Following the completion of the transaction, the chief financial officer now owns 80,124 shares of the company’s stock, valued at approximately $7,975,542.96. This represents a 1.83 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.98% of the stock is currently owned by corporate insiders.

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.