Grove Bank & Trust Purchases 189 Shares of Starbucks Co. (NASDAQ:SBUX)

Grove Bank & Trust lifted its position in Starbucks Co. (NASDAQ:SBUX) by 13.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,590 shares of the coffee company’s stock after purchasing an additional 189 shares during the quarter. Grove Bank & Trust’s holdings in Starbucks were worth $145,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Clarius Group LLC grew its holdings in shares of Starbucks by 0.4% in the 4th quarter. Clarius Group LLC now owns 66,907 shares of the coffee company’s stock worth $6,105,000 after purchasing an additional 235 shares during the last quarter. HF Advisory Group LLC grew its holdings in Starbucks by 14.4% during the 4th quarter. HF Advisory Group LLC now owns 16,534 shares of the coffee company’s stock worth $1,509,000 after acquiring an additional 2,076 shares during the last quarter. Aaron Wealth Advisors LLC grew its holdings in Starbucks by 2.9% during the 4th quarter. Aaron Wealth Advisors LLC now owns 6,512 shares of the coffee company’s stock worth $594,000 after acquiring an additional 182 shares during the last quarter. Whitaker Myers Wealth Managers LTD. bought a new stake in Starbucks during the 4th quarter worth about $322,000. Finally, Astoria Portfolio Advisors LLC. grew its holdings in Starbucks by 1.9% during the 4th quarter. Astoria Portfolio Advisors LLC. now owns 6,916 shares of the coffee company’s stock worth $644,000 after acquiring an additional 131 shares during the last quarter. Institutional investors own 72.29% of the company’s stock.

Insider Activity at Starbucks

In related news, CFO Rachel Ruggeri sold 1,491 shares of the firm’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $99.54, for a total value of $148,414.14. Following the completion of the transaction, the chief financial officer now directly owns 80,124 shares of the company’s stock, valued at approximately $7,975,542.96. This trade represents a 1.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.98% of the stock is owned by company insiders.

Starbucks Stock Up 0.7 %

Shares of SBUX opened at $95.13 on Tuesday. The stock has a market capitalization of $107.86 billion, a P/E ratio of 28.74, a P/E/G ratio of 2.73 and a beta of 0.99. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $103.32. The company has a 50 day moving average of $95.84 and a 200-day moving average of $91.71.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, hitting the consensus estimate of $0.80. The company had revenue of $9.07 billion during the quarter, compared to analysts’ expectations of $9.60 billion. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The business’s quarterly revenue was down 3.2% on a year-over-year basis. During the same period last year, the business earned $1.06 EPS. On average, sell-side analysts anticipate that Starbucks Co. will post 3.1 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be paid a $0.61 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.44 annualized dividend and a dividend yield of 2.56%. Starbucks’s dividend payout ratio is presently 73.72%.

Analysts Set New Price Targets

SBUX has been the topic of a number of research reports. Morgan Stanley upped their target price on shares of Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Sanford C. Bernstein upgraded shares of Starbucks from a “market perform” rating to an “outperform” rating and upped their target price for the company from $92.00 to $115.00 in a research report on Thursday, September 26th. Citigroup upped their target price on shares of Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. UBS Group upped their target price on shares of Starbucks from $85.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Finally, Barclays cut their target price on shares of Starbucks from $110.00 to $108.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $103.92.

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.