Argent Trust Co Boosts Position in Starbucks Co. (NASDAQ:SBUX)

Argent Trust Co boosted its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 1.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 117,817 shares of the coffee company’s stock after buying an additional 2,052 shares during the quarter. Argent Trust Co’s holdings in Starbucks were worth $10,751,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in SBUX. Financial Life Planners purchased a new stake in Starbucks in the 4th quarter valued at about $25,000. Graney & King LLC purchased a new stake in shares of Starbucks during the fourth quarter worth approximately $26,000. Collier Financial purchased a new position in Starbucks in the fourth quarter worth $27,000. Runnymede Capital Advisors Inc. purchased a new position in shares of Starbucks in the fourth quarter valued at $27,000. Finally, Marshall Investment Management LLC acquired a new stake in Starbucks in the 4th quarter worth about $30,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Stock Down 5.9 %

Shares of NASDAQ SBUX traded down $5.27 during trading hours on Thursday, hitting $83.41. 600,482 shares of the stock were exchanged, compared to its average volume of 11,386,773. The company has a market cap of $94.75 billion, a PE ratio of 27.32, a PEG ratio of 3.59 and a beta of 1.00. The firm has a fifty day moving average price of $103.14 and a 200-day moving average price of $98.92. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $117.46.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01. Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. During the same quarter in the prior year, the firm earned $0.90 EPS. As a group, equities analysts anticipate that Starbucks Co. will post 2.99 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be paid a $0.61 dividend. This represents a $2.44 annualized dividend and a dividend yield of 2.93%. The ex-dividend date of this dividend is Friday, May 16th. Starbucks’s payout ratio is 78.71%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on SBUX shares. BMO Capital Markets upped their target price on Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Robert W. Baird reissued a “neutral” rating and issued a $85.00 price objective (down from $114.00) on shares of Starbucks in a research note on Monday. Jefferies Financial Group raised Starbucks from an “underperform” rating to a “hold” rating and set a $76.00 price objective on the stock in a report on Wednesday. Royal Bank of Canada restated an “outperform” rating and set a $115.00 target price on shares of Starbucks in a research note on Friday, January 24th. Finally, Wedbush raised their target price on Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $105.12.

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.