Fulton Bank N.A. Sells 1,343 Shares of Starbucks Co. (NASDAQ:SBUX)

Fulton Bank N.A. lowered its stake in Starbucks Co. (NASDAQ:SBUX) by 5.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 22,945 shares of the coffee company’s stock after selling 1,343 shares during the period. Fulton Bank N.A.’s holdings in Starbucks were worth $2,094,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of SBUX. Riverview Trust Co raised its position in shares of Starbucks by 3.4% in the 3rd quarter. Riverview Trust Co now owns 3,199 shares of the coffee company’s stock valued at $312,000 after buying an additional 105 shares in the last quarter. Essex Savings Bank raised its position in Starbucks by 1.6% during the third quarter. Essex Savings Bank now owns 7,250 shares of the coffee company’s stock valued at $707,000 after purchasing an additional 112 shares in the last quarter. Virtue Capital Management LLC raised its position in Starbucks by 1.7% during the third quarter. Virtue Capital Management LLC now owns 6,909 shares of the coffee company’s stock valued at $674,000 after purchasing an additional 115 shares in the last quarter. DT Investment Partners LLC lifted its stake in Starbucks by 39.4% during the third quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock worth $42,000 after purchasing an additional 121 shares during the last quarter. Finally, Childress Capital Advisors LLC boosted its holdings in shares of Starbucks by 4.8% in the 3rd quarter. Childress Capital Advisors LLC now owns 2,727 shares of the coffee company’s stock valued at $266,000 after purchasing an additional 126 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Stock Performance

Shares of SBUX stock opened at $92.60 on Thursday. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $103.32. The stock has a 50 day simple moving average of $96.37 and a two-hundred day simple moving average of $90.87. The company has a market cap of $104.99 billion, a P/E ratio of 27.98, a PEG ratio of 2.86 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, meeting the consensus estimate of $0.80. The company had revenue of $9.07 billion during the quarter, compared to analyst estimates of $9.60 billion. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. Starbucks’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.06 EPS. On average, research analysts predict that Starbucks Co. will post 3.11 earnings per share for the current year.

Starbucks Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be given a dividend of $0.61 per share. The ex-dividend date is Friday, February 14th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.63%. Starbucks’s dividend payout ratio (DPR) is presently 73.72%.

Insider Activity

In other news, CFO Rachel Ruggeri sold 1,452 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $99.07, for a total transaction of $143,849.64. Following the transaction, the chief financial officer now directly owns 65,648 shares of the company’s stock, valued at $6,503,747.36. This represents a 2.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.98% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Wedbush dropped their price objective on Starbucks from $98.00 to $95.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. TD Cowen reaffirmed a “buy” rating and set a $110.00 price target on shares of Starbucks in a report on Monday, November 11th. Bank of America dropped their price objective on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a research note on Tuesday, October 22nd. Morgan Stanley raised 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. Finally, Royal Bank of Canada began coverage on Starbucks in a research note on Friday, November 15th. They issued an “outperform” rating and a $115.00 price target for the company. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Starbucks presently has a consensus rating of “Moderate Buy” and an average target price of $103.77.

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.