First Midwest Bank Trust Division Sells 2,892 Shares of Starbucks Co. (SBUX)

First Midwest Bank Trust Division trimmed its holdings in Starbucks Co. (NASDAQ:SBUX) by 11.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,863 shares of the coffee company’s stock after selling 2,892 shares during the period. First Midwest Bank Trust Division’s holdings in Starbucks were worth $1,174,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in SBUX. Union Bankshares Corp grew its position in shares of Starbucks by 0.4% during the 2nd quarter. Union Bankshares Corp now owns 3,508 shares of the coffee company’s stock valued at $204,000 after purchasing an additional 14 shares in the last quarter. Ken Stern & Associates Inc. grew its position in shares of Starbucks by 0.4% during the 2nd quarter. Ken Stern & Associates Inc. now owns 5,662 shares of the coffee company’s stock valued at $330,000 after purchasing an additional 23 shares in the last quarter. Vaughan David Investments Inc. IL grew its position in shares of Starbucks by 0.6% during the 1st quarter. Vaughan David Investments Inc. IL now owns 4,649 shares of the coffee company’s stock valued at $271,000 after purchasing an additional 26 shares in the last quarter. Spectrum Management Group Inc. grew its position in shares of Starbucks by 0.3% during the 2nd quarter. Spectrum Management Group Inc. now owns 10,630 shares of the coffee company’s stock valued at $620,000 after purchasing an additional 30 shares in the last quarter. Finally, Heritage Investors Management Corp grew its position in shares of Starbucks by 0.8% during the 2nd quarter. Heritage Investors Management Corp now owns 4,963 shares of the coffee company’s stock valued at $289,000 after purchasing an additional 40 shares in the last quarter. Institutional investors and hedge funds own 70.67% of the company’s stock.

Starbucks Co. (SBUX) opened at $57.30 on Monday. Starbucks Co. has a 1 year low of $52.58 and a 1 year high of $64.87. The stock has a market cap of $81,530.00, a price-to-earnings ratio of 29.09, a P/E/G ratio of 1.57 and a beta of 0.76. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.25 and a quick ratio of 0.93.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Thursday, November 2nd. The coffee company reported $0.55 earnings per share for the quarter, hitting the consensus estimate of $0.55. The business had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.81 billion. Starbucks had a net margin of 12.89% and a return on equity of 53.34%. The firm’s revenue for the quarter was down .2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.56 earnings per share. analysts predict that Starbucks Co. will post 2.31 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Thursday, November 16th were paid a $0.30 dividend. The ex-dividend date of this dividend was Wednesday, November 15th. This is an increase from Starbucks’s previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a yield of 2.09%. Starbucks’s payout ratio is currently 60.91%.

A number of research analysts have recently commented on SBUX shares. Cowen restated a “buy” rating and set a $63.00 price target on shares of Starbucks in a research report on Friday, September 1st. Zacks Investment Research upgraded shares of Starbucks from a “sell” rating to a “hold” rating in a research report on Wednesday, September 6th. Bank of America restated a “neutral” rating and set a $65.00 price target on shares of Starbucks in a research report on Thursday, September 14th. Stephens restated an “equal weight” rating and set a $52.00 price target (down from $58.00) on shares of Starbucks in a research report on Friday, September 29th. They noted that the move was a valuation call. Finally, Mizuho restated a “buy” rating and set a $75.00 price target on shares of Starbucks in a research report on Friday, September 29th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $63.26.

In other Starbucks news, Director Javier G. Teruel sold 62,966 shares of the business’s stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $57.61, for a total value of $3,627,471.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Paul Mutty sold 3,000 shares of the business’s stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $56.95, for a total transaction of $170,850.00. Following the completion of the sale, the senior vice president now directly owns 10,438 shares of the company’s stock, valued at $594,444.10. The disclosure for this sale can be found here. Insiders sold 497,808 shares of company stock valued at $28,559,521 over the last three months. 3.40% of the stock is currently owned by insiders.

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Starbucks Company Profile

Starbucks Corporation (Starbucks) is a roaster, marketer and retailer of coffee. As of October 2, 2016, the Company operated in 75 countries. The Company operates through four segments: Americas, which is inclusive of the United States, Canada, and Latin America; China/Asia Pacific (CAP); Europe, Middle East, and Africa (EMEA), and Channel Development.

Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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