Cambridge Trust Co. Sells 926 Shares of Starbucks Co. (NASDAQ:SBUX)

Cambridge Trust Co. reduced its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 5.0% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 17,634 shares of the coffee company’s stock after selling 926 shares during the period. Cambridge Trust Co.’s holdings in Starbucks were worth $1,693,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Cerity Partners LLC lifted its stake in Starbucks by 481.9% during the 4th quarter. Cerity Partners LLC now owns 1,547,411 shares of the coffee company’s stock valued at $148,567,000 after acquiring an additional 1,281,471 shares in the last quarter. Metis Global Partners LLC boosted its holdings in Starbucks by 15.4% during the third quarter. Metis Global Partners LLC now owns 56,939 shares of the coffee company’s stock worth $5,197,000 after purchasing an additional 7,619 shares during the last quarter. Tyche Wealth Partners LLC bought a new stake in Starbucks in the 4th quarter worth about $794,000. Insigneo Advisory Services LLC increased its stake in Starbucks by 60.6% in the 3rd quarter. Insigneo Advisory Services LLC now owns 9,464 shares of the coffee company’s stock valued at $864,000 after buying an additional 3,570 shares during the last quarter. Finally, Motco lifted its position in shares of Starbucks by 1.1% during the 3rd quarter. Motco now owns 74,829 shares of the coffee company’s stock worth $6,830,000 after buying an additional 811 shares in the last quarter. 72.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Morgan Stanley reduced their target price on Starbucks from $120.00 to $115.00 and set an “overweight” rating for the company in a report on Friday, April 12th. Royal Bank of Canada reissued a “sector perform” rating and issued a $102.00 price target on shares of Starbucks in a report on Wednesday, January 31st. BMO Capital Markets decreased their price objective on shares of Starbucks from $125.00 to $120.00 and set an “outperform” rating for the company in a report on Wednesday, January 31st. Stephens reaffirmed an “equal weight” rating and issued a $110.00 price objective on shares of Starbucks in a research report on Wednesday, January 31st. Finally, Piper Sandler decreased their price target on shares of Starbucks from $107.00 to $100.00 and set a “neutral” rating for the company in a research note on Friday, January 19th. Thirteen analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Starbucks currently has a consensus rating of “Hold” and a consensus target price of $107.43.

Insider Buying and Selling

In related news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $85.39, for a total transaction of $277,517.50. Following the completion of the transaction, the chief executive officer now directly 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 is available through this link. Over the last quarter, insiders have sold 7,250 shares of company stock worth $653,183. Corporate insiders own 1.98% of the company’s stock.

Starbucks Stock Down 0.2 %

Shares of NASDAQ SBUX opened at $87.00 on Friday. The company has a market cap of $98.50 billion, a P/E ratio of 23.30, a P/E/G ratio of 1.39 and a beta of 0.97. Starbucks Co. has a 52 week low of $84.29 and a 52 week high of $115.48. The business has a 50-day simple moving average of $91.14 and a two-hundred day simple moving average of $94.42.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results 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). The firm had revenue of $9.43 billion during the quarter, compared to analysts’ expectations of $9.60 billion. Starbucks had a negative return on equity of 50.76% and a net margin of 11.70%. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.75 earnings per share. Equities research analysts anticipate that Starbucks Co. will post 4.03 EPS for the current year.

Starbucks Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be issued a $0.57 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.28 annualized dividend and a dividend yield of 2.62%. Starbucks’s payout ratio is currently 60.96%.

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.