Argent Trust Co increased its position in Starbucks Co. (NASDAQ:SBUX) by 14.1% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 74,307 shares of the coffee company’s stock after purchasing an additional 9,163 shares during the period. Argent Trust Co’s holdings in Starbucks were worth $4,885,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Capital Wealth Alliance LLC acquired a new position in Starbucks in the fourth quarter worth about $25,000. RMR Wealth Builders acquired a new position in Starbucks in the fourth quarter worth about $26,000. Tobias Financial Advisors Inc. acquired a new position in Starbucks in the fourth quarter worth about $31,000. Solstein Capital LLC acquired a new position in Starbucks in the fourth quarter worth about $32,000. Finally, AlphaCore Capital LLC acquired a new position in Starbucks in the first quarter worth about $32,000. Institutional investors and hedge funds own 67.70% of the company’s stock.

In other Starbucks news, CAO Jill Walker sold 2,000 shares of Starbucks stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $70.14, for a total transaction of $140,280.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Myron E. Ullman III sold 4,252 shares of Starbucks stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $74.89, for a total transaction of $318,432.28. Following the transaction, the director now owns 22,728 shares in the company, valued at $1,702,099.92. The disclosure for this sale can be found here. Insiders sold 10,504 shares of company stock worth $726,546 in the last ninety days. 0.41% of the stock is owned by corporate insiders.

NASDAQ:SBUX traded down $0.45 during midday trading on Friday, hitting $77.60. 5,316,833 shares of the stock were exchanged, compared to its average volume of 11,681,918. Starbucks Co. has a one year low of $50.02 and a one year high of $99.72. The company has a market capitalization of $90.41 billion, a price-to-earnings ratio of 27.47, a P/E/G ratio of 4.55 and a beta of 0.80. The business has a 50-day moving average price of $73.45 and a two-hundred day moving average price of $80.80.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Tuesday, April 28th. The coffee company reported $0.32 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.02). The company had revenue of $6 billion during the quarter, compared to the consensus estimate of $5.85 billion. Starbucks had a net margin of 12.71% and a negative return on equity of 50.19%. Starbucks’s quarterly revenue was down 4.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.60 EPS. As a group, analysts forecast that Starbucks Co. will post 1.24 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Shareholders of record on Friday, May 8th will be issued a $0.41 dividend. The ex-dividend date of this dividend is Thursday, May 7th. This represents a $1.64 annualized dividend and a dividend yield of 2.11%. Starbucks’s dividend payout ratio is currently 57.95%.

A number of equities analysts recently commented on the company. Piper Sandler decreased their price target on Starbucks from $74.00 to $70.00 and set a “neutral” rating for the company in a research note on Tuesday, April 7th. JPMorgan Chase & Co. lifted their target price on Starbucks from $65.00 to $72.00 and gave the company a “neutral” rating in a research note on Wednesday, April 29th. Bank of America downgraded Starbucks from a “buy” rating to a “neutral” rating and lifted their target price for the company from $68.00 to $73.00 in a research note on Thursday, April 9th. BMO Capital Markets restated a “market perform” rating and issued a $85.00 target price on shares of Starbucks in a research note on Wednesday, January 29th. Finally, Jefferies Financial Group lifted their target price on Starbucks from $70.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, April 22nd. One equities research analyst has rated the stock with a sell rating, twenty-one have given a hold rating and twelve have issued a buy rating to the company’s stock. Starbucks presently has a consensus rating of “Hold” and a consensus target price of $81.77.

Starbucks Profile

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in four segments: Americas; China/Asia Pacific; Europe, Middle East, and Africa; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, iced tea, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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