Huntington National Bank Has $8.71 Million Position in Starbucks Co. (NASDAQ:SBUX)

Huntington National Bank cut its holdings in Starbucks Co. (NASDAQ:SBUX) by 6.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 89,309 shares of the coffee company’s stock after selling 6,350 shares during the quarter. Huntington National Bank’s holdings in Starbucks were worth $8,707,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Strategic Investment Solutions Inc. IL bought a new stake in shares of Starbucks during the second quarter worth $25,000. New Millennium Group LLC acquired a new position in Starbucks in the 2nd quarter worth $26,000. Stephens Consulting LLC increased its holdings in Starbucks by 498.2% during the 2nd quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock worth $26,000 after purchasing an additional 279 shares in the last quarter. Hobbs Group Advisors LLC acquired a new stake in shares of Starbucks in the 2nd quarter valued at about $27,000. Finally, Olistico Wealth LLC bought a new stake in shares of Starbucks in the second quarter valued at about $31,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on SBUX shares. Deutsche Bank Aktiengesellschaft raised Starbucks from a “hold” rating to a “buy” rating and lifted their target price for the company from $85.00 to $118.00 in a research report on Wednesday, August 14th. Wedbush cut their price objective on shares of Starbucks from $98.00 to $95.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. Sanford C. Bernstein raised shares of Starbucks from a “market perform” rating to an “outperform” rating and raised their target price for the company from $92.00 to $115.00 in a research report on Thursday, September 26th. Citigroup boosted their price target on shares of Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Finally, Jefferies Financial Group cut Starbucks from a “hold” rating to an “underperform” rating and decreased their price objective for the company from $80.00 to $76.00 in a report on Tuesday, September 24th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Starbucks has a consensus rating of “Moderate Buy” and an average target price of $102.31.

Starbucks Price Performance

SBUX opened at $99.23 on Friday. The business has a fifty day simple moving average of $96.45 and a 200 day simple moving average of $86.03. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $107.66. The company has a market capitalization of $112.45 billion, a PE ratio of 29.98, a price-to-earnings-growth ratio of 2.89 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, meeting the consensus estimate of $0.80. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The business had revenue of $9.07 billion for the quarter, compared to the consensus estimate of $9.60 billion. During the same period in the prior year, the company posted $1.06 earnings per share. Starbucks’s revenue was down 3.2% compared to the same quarter last year. Equities analysts anticipate that Starbucks Co. will post 3.15 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be given a $0.61 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.46%. This is a boost from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s dividend payout ratio (DPR) is presently 68.88%.

Insider Activity at Starbucks

In other Starbucks news, Director Jorgen Vig Knudstorp bought 380 shares of the business’s stock in a transaction on Friday, September 6th. The stock was purchased at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the purchase, the director now directly owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. This trade represents a 1.06 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 1.98% of the stock is owned by insiders.

Starbucks Company 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.