Huntington National Bank grew its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 7.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 117,220 shares of the coffee company’s stock after buying an additional 8,297 shares during the period. Huntington National Bank’s holdings in Starbucks were worth $8,625,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Lyell Wealth Management LP boosted its holdings in Starbucks by 19.7% during the second quarter. Lyell Wealth Management LP now owns 49,353 shares of the coffee company’s stock worth $3,632,000 after buying an additional 8,117 shares during the last quarter. Washington Trust Bank boosted its holdings in Starbucks by 2.9% during the second quarter. Washington Trust Bank now owns 113,897 shares of the coffee company’s stock worth $8,382,000 after buying an additional 3,217 shares during the last quarter. Ballast Advisors LLC boosted its holdings in Starbucks by 22.4% during the second quarter. Ballast Advisors LLC now owns 4,242 shares of the coffee company’s stock worth $312,000 after buying an additional 775 shares during the last quarter. Mitchell Capital Management Co. boosted its holdings in Starbucks by 2.1% during the second quarter. Mitchell Capital Management Co. now owns 18,366 shares of the coffee company’s stock worth $1,352,000 after buying an additional 382 shares during the last quarter. Finally, State of Michigan Retirement System boosted its holdings in Starbucks by 10.2% during the second quarter. State of Michigan Retirement System now owns 298,342 shares of the coffee company’s stock worth $21,955,000 after buying an additional 27,582 shares during the last quarter. Hedge funds and other institutional investors own 68.51% of the company’s stock.

A number of equities analysts have issued reports on SBUX shares. Stifel Nicolaus raised their target price on Starbucks from $75.00 to $78.00 and gave the stock a “hold” rating in a report on Wednesday. Telsey Advisory Group dropped their price target on Starbucks from $90.00 to $80.00 and set a “market perform” rating on the stock in a research report on Tuesday, June 23rd. Wolfe Research started coverage on Starbucks in a research report on Friday, April 17th. They set an “outperform” rating and a $86.00 price target on the stock. Wells Fargo & Co started coverage on Starbucks in a research report on Monday, July 20th. They set an “overweight” rating and a $92.00 price target on the stock. Finally, Zacks Investment Research raised Starbucks from a “sell” rating to a “hold” rating and set a $86.00 price target on the stock in a research report on Monday, June 8th. One investment analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and fourteen have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $84.04.

In related news, Director Myron E. Ullman III sold 4,252 shares of the business’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $74.09, for a total value of $315,030.68. Following the completion of the sale, the director now directly owns 22,752 shares in the company, valued at approximately $1,685,695.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Jill Walker sold 2,000 shares of the business’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $82.64, for a total value of $165,280.00. The disclosure for this sale can be found here. Insiders have sold a total of 10,504 shares of company stock valued at $810,521 over the last quarter. 0.41% of the stock is currently owned by corporate insiders.

SBUX stock traded down $0.11 during mid-day trading on Friday, reaching $76.53. The company had a trading volume of 7,424,977 shares, compared to its average volume of 8,243,539. Starbucks Co. has a 52 week low of $50.02 and a 52 week high of $98.14. The stock has a 50 day simple moving average of $74.75 and a two-hundred day simple moving average of $77.29. The company has a market capitalization of $89.59 billion, a price-to-earnings ratio of 68.95, a PEG ratio of 5.87 and a beta of 0.79.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, July 28th. The coffee company reported ($0.46) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.61) by $0.15. Starbucks had a negative return on equity of 22.26% and a net margin of 5.56%. The company had revenue of $4.22 billion during the quarter, compared to the consensus estimate of $4.14 billion. During the same period in the previous year, the company posted $0.78 EPS. The firm’s revenue for the quarter was down 38.1% compared to the same quarter last year. As a group, equities analysts expect that Starbucks Co. will post 0.95 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Friday, August 7th will be paid a dividend of $0.41 per share. The ex-dividend date is Thursday, August 6th. This represents a $1.64 annualized dividend and a dividend yield of 2.14%. Starbucks’s dividend payout ratio is currently 57.95%.

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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