Trust Co. of Vermont Reduces Stock Position in Starbucks Co. (NASDAQ:SBUX)

Trust Co. of Vermont lowered its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 21.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 106,639 shares of the coffee company’s stock after selling 29,649 shares during the period. Trust Co. of Vermont’s holdings in Starbucks were worth $7,847,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of SBUX. Capital Wealth Alliance LLC purchased a new stake in shares of Starbucks during the fourth quarter worth $25,000. RMR Wealth Builders purchased a new stake in shares of Starbucks during the fourth quarter worth $26,000. Column Capital Advisors LLC increased its holdings in shares of Starbucks by 57.0% in the first quarter. Column Capital Advisors LLC now owns 468 shares of the coffee company’s stock worth $31,000 after purchasing an additional 170 shares during the period. AlphaCore Capital LLC bought a new position in shares of Starbucks in the first quarter worth $32,000. Finally, Engrave Wealth Partners LLC bought a new position in shares of Starbucks in the fourth quarter worth $34,000. Hedge funds and other institutional investors own 68.51% of the company’s stock.

In other Starbucks news, Director Myron E. Ullman III sold 4,252 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The shares were 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 $1,685,695.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Jill Walker sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $82.64, for a total transaction of $165,280.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,756 shares of company stock valued at $1,128,953. 0.41% of the stock is currently owned by company insiders.

Several research analysts have recently weighed in on the stock. Robert W. Baird decreased their price target on shares of Starbucks from $80.00 to $65.00 and set a “neutral” rating on the stock in a report on Monday, March 23rd. Wedbush upped their price target on shares of Starbucks from $71.00 to $75.00 and gave the stock a “neutral” rating in a report on Wednesday, April 29th. Royal Bank of Canada decreased their price target on shares of Starbucks from $86.00 to $85.00 and set an “outperform” rating on the stock in a report on Thursday, June 11th. Oppenheimer decreased their price target on shares of Starbucks from $90.00 to $85.00 and set an “outperform” rating on the stock in a report on Friday, April 24th. Finally, Citigroup reduced their target price on Starbucks from $89.00 to $87.00 and set a “buy” rating on the stock in a research note on Monday, June 15th. One equities research analyst has rated the stock with a sell rating, nineteen have issued a hold rating and twelve have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $82.56.

Shares of Starbucks stock traded down $1.15 during trading on Friday, reaching $73.24. 105,350 shares of the stock were exchanged, compared to its average volume of 8,846,589. The stock’s fifty day moving average is $76.01 and its 200 day moving average is $78.27. The firm has a market cap of $86.45 billion, a price-to-earnings ratio of 26.33, a price-to-earnings-growth ratio of 6.84 and a beta of 0.79. Starbucks Co. has a 1 year low of $50.02 and a 1 year high of $99.72.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Tuesday, April 28th. The coffee company reported $0.32 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.02). The firm had revenue of $6 billion for the quarter, compared to analysts’ expectations of $5.85 billion. Starbucks had a negative return on equity of 50.19% and a net margin of 12.71%. The business’s revenue for the quarter was down 4.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.60 earnings per share. On average, analysts predict that Starbucks Co. will post 0.8 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Friday, August 7th will be issued a dividend of $0.41 per share. The ex-dividend date of this dividend is Thursday, August 6th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.24%. 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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