Huntington National Bank Reduces Holdings in Starbucks Co. (NASDAQ:SBUX)

Huntington National Bank reduced its position in Starbucks Co. (NASDAQ:SBUX) by 3.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 85,789 shares of the coffee company’s stock after selling 3,520 shares during the period. Huntington National Bank’s holdings in Starbucks were worth $7,828,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Financial Life Planners acquired a new stake in shares of Starbucks in the fourth quarter valued at approximately $25,000. Graney & King LLC purchased a new stake in Starbucks in the 4th quarter valued at $26,000. Collier Financial acquired a new stake in Starbucks during the 4th quarter worth $27,000. Runnymede Capital Advisors Inc. purchased a new position in Starbucks during the 4th quarter worth $27,000. Finally, Marshall Investment Management LLC acquired a new position in Starbucks in the fourth quarter valued at $30,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on SBUX. Stifel Nicolaus increased their target price on shares of Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. UBS Group increased their price objective on Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Barclays lifted their target price on Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Royal Bank of Canada restated an “outperform” rating and set a $115.00 price target on shares of Starbucks in a research note on Friday, January 24th. Finally, Argus upgraded shares of Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price objective on the stock in a research report on Tuesday, March 18th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $106.12.

Starbucks Trading Up 1.2 %

NASDAQ:SBUX opened at $99.41 on Thursday. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $117.46. The company has a market capitalization of $112.92 billion, a P/E ratio of 32.07, a price-to-earnings-growth ratio of 3.59 and a beta of 0.99. The firm has a 50-day moving average price of $105.84 and a two-hundred day moving average price of $99.54.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, topping 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 quarter in the prior year, the company posted $0.90 earnings per share. On average, equities research analysts predict that Starbucks Co. will post 2.99 earnings per share for the current year.

Starbucks Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be paid a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.45%. Starbucks’s payout ratio is currently 78.71%.

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.