Intrust Bank NA Has $1.54 Million Stock Position in Starbucks Corporation $SBUX

Intrust Bank NA decreased its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 5.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,749 shares of the coffee company’s stock after selling 892 shares during the period. Intrust Bank NA’s holdings in Starbucks were worth $1,535,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Nomura Asset Management Co. Ltd. lifted its position in shares of Starbucks by 6.9% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 450,948 shares of the coffee company’s stock worth $41,320,000 after purchasing an additional 29,073 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH lifted its holdings in shares of Starbucks by 6.5% during the second quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 830,151 shares of the coffee company’s stock worth $76,067,000 after buying an additional 50,802 shares during the last quarter. Bell Investment Advisors Inc lifted its holdings in shares of Starbucks by 473.7% during the second quarter. Bell Investment Advisors Inc now owns 2,226 shares of the coffee company’s stock worth $204,000 after buying an additional 1,838 shares during the last quarter. Financial Gravity Companies Inc. bought a new stake in shares of Starbucks in the second quarter valued at approximately $2,232,000. Finally, Summitry LLC grew its stake in shares of Starbucks by 4.0% in the second quarter. Summitry LLC now owns 625,661 shares of the coffee company’s stock worth $57,329,000 after acquiring an additional 23,972 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors.

Starbucks Price Performance

Starbucks stock opened at $84.78 on Monday. The firm has a market capitalization of $96.37 billion, a P/E ratio of 51.70, a P/E/G ratio of 4.28 and a beta of 1.02. The stock has a fifty day moving average price of $83.76 and a two-hundred day moving average price of $87.63. Starbucks Corporation has a 52-week low of $75.50 and a 52-week high of $117.46.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Wednesday, October 29th. The coffee company reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.03). The firm had revenue of $9.57 billion for the quarter, compared to the consensus estimate of $9.41 billion. Starbucks had a negative return on equity of 31.84% and a net margin of 4.99%.Starbucks’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.80 earnings per share. On average, equities research analysts predict that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be given a dividend of $0.62 per share. This is a boost from Starbucks’s previous quarterly dividend of $0.61. The ex-dividend date is Friday, November 14th. This represents a $2.48 dividend on an annualized basis and a yield of 2.9%. Starbucks’s dividend payout ratio is currently 151.22%.

Insiders Place Their Bets

In other Starbucks news, Director Jorgen Vig Knudstorp acquired 11,700 shares of the business’s stock in a transaction on Monday, November 10th. The stock was purchased at an average price of $85.00 per share, for a total transaction of $994,500.00. Following the transaction, the director owned 53,096 shares in the company, valued at $4,513,160. This trade represents a 28.26% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.09% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Barclays cut their target price on shares of Starbucks from $115.00 to $95.00 and set an “overweight” rating for the company in a research note on Wednesday, October 22nd. Piper Sandler reduced their target price on shares of Starbucks from $105.00 to $100.00 and set an “overweight” rating for the company in a research note on Thursday, October 30th. Mizuho upgraded Starbucks to a “hold” rating in a research note on Tuesday, October 28th. Baird R W raised Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 12th. Finally, UBS Group set a $94.00 target price on Starbucks and gave the company a “neutral” rating in a research note on Tuesday, October 21st. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $101.44.

About Starbucks

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.