German American Bancorp Inc. Has $220,000 Stake in Starbucks Co. (NASDAQ:SBUX)

German American Bancorp Inc. lessened its position in shares of Starbucks Co. (NASDAQ:SBUX) by 26.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,990 shares of the coffee company’s stock after selling 703 shares during the period. German American Bancorp Inc.’s holdings in Starbucks were worth $220,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of SBUX. Isthmus Partners LLC bought a new position in shares of Starbucks in the second quarter worth approximately $31,000. Capital Directions Investment Advisors LLC bought a new stake in Starbucks in the 3rd quarter valued at $32,000. JJJ Advisors Inc. increased its position in Starbucks by 157.9% during the third quarter. JJJ Advisors Inc. now owns 361 shares of the coffee company’s stock valued at $40,000 after acquiring an additional 221 shares during the last quarter. US Asset Management LLC bought a new position in Starbucks in the third quarter worth approximately $42,000. Finally, Mascoma Wealth Management LLC purchased a new position in Starbucks in the third quarter worth $52,000. Institutional investors own 68.26% of the company’s stock.

Several equities research analysts have issued reports on SBUX shares. Barclays lifted their target price on shares of Starbucks from $128.00 to $136.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 15th. Atlantic Securities cut Starbucks from an “overweight” rating to a “neutral” rating and set a $105.00 price target for the company. in a report on Thursday, September 30th. Royal Bank of Canada downgraded shares of Starbucks from an “outperform” rating to a “sector perform” rating and reduced their price objective for the company from $124.00 to $122.00 in a research note on Friday, January 7th. BMO Capital Markets decreased their price target on Starbucks from $140.00 to $135.00 and set an “outperform” rating for the company in a research report on Friday, October 29th. Finally, Wells Fargo & Company reduced their price target on shares of Starbucks from $135.00 to $122.00 and set an “overweight” rating for the company in a report on Friday, October 29th. Twelve analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $123.57.

In related news, insider Michael Aaron Conway sold 47,088 shares of the stock in a transaction dated Monday, November 22nd. The stock was sold at an average price of $111.50, for a total transaction of $5,250,312.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Angela Lis sold 6,000 shares of the business’s stock in a transaction dated Friday, December 10th. The shares were sold at an average price of $116.88, for a total value of $701,280.00. The disclosure for this sale can be found here. Insiders have sold 307,118 shares of company stock valued at $35,431,134 in the last ninety days. Insiders own 0.36% of the company’s stock.

Starbucks stock traded down $2.39 during midday trading on Friday, reaching $100.01. 375,877 shares of the stock traded hands, compared to its average volume of 9,230,075. The stock has a market cap of $117.33 billion, a P/E ratio of 28.23, a PEG ratio of 1.52 and a beta of 0.83. The stock’s fifty day moving average is $112.28 and its 200-day moving average is $114.45. Starbucks Co. has a 12 month low of $95.92 and a 12 month high of $126.32.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Thursday, October 28th. The coffee company reported $1.00 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.00. The company had revenue of $8.10 billion for the quarter, compared to analysts’ expectations of $8.22 billion. Starbucks had a net margin of 14.45% and a negative return on equity of 55.34%. The firm’s quarterly revenue was up 30.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.51 EPS. As a group, research analysts predict that Starbucks Co. will post 3.45 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, February 25th. Stockholders of record on Friday, February 11th will be paid a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date is Thursday, February 10th. Starbucks’s dividend payout ratio is presently 55.21%.

Starbucks Profile

Starbucks Corp. engages in the production, marketing, and retailing of specialty coffee. It operates through the following segments: North America; International; and Channel Development. The North America and International segments sells coffee and other beverages, complementary food, packaged coffees, single-serve coffee products, and a focused selection of merchandise through company-oriented stores, and licensed stores.

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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