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.
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 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.
See Also: Google Finance Portfolio Tips and Tricks
Want to see what other hedge funds are holding SBUX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Starbucks Co. (NASDAQ:SBUX).
Receive News & Ratings for Starbucks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Starbucks and related companies with MarketBeat.com's FREE daily email newsletter.