City Holding Co. Purchases 2,143 Shares of Starbucks Co. (NASDAQ:SBUX)

City Holding Co. raised its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 14.3% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 17,141 shares of the coffee company’s stock after acquiring an additional 2,143 shares during the period. City Holding Co.’s holdings in Starbucks were worth $1,566,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in SBUX. Vanguard Group Inc. grew its stake in Starbucks by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 107,933,270 shares of the coffee company’s stock worth $10,362,673,000 after buying an additional 1,041,622 shares in the last quarter. Norges Bank purchased a new stake in Starbucks during the fourth quarter valued at about $1,240,652,000. Fisher Asset Management LLC lifted its stake in Starbucks by 2.4% during the fourth quarter. Fisher Asset Management LLC now owns 11,367,331 shares of the coffee company’s stock worth $1,091,378,000 after purchasing an additional 268,030 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Starbucks by 0.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 10,027,953 shares of the coffee company’s stock valued at $948,093,000 after purchasing an additional 27,496 shares during the last quarter. Finally, Franklin Resources Inc. raised its stake in shares of Starbucks by 3.1% during the fourth quarter. Franklin Resources Inc. now owns 5,511,378 shares of the coffee company’s stock worth $529,147,000 after acquiring an additional 166,010 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

SBUX has been the subject of several recent research reports. HSBC lowered their price target on shares of Starbucks from $107.00 to $84.00 and set a “hold” rating for the company in a research note on Friday, May 3rd. Evercore ISI decreased their price target on Starbucks from $120.00 to $92.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 1st. Stifel Nicolaus cut their target price on shares of Starbucks from $90.00 to $80.00 and set a “hold” rating on the stock in a report on Wednesday, May 1st. Oppenheimer reiterated a “market perform” rating on shares of Starbucks in a report on Friday, April 19th. Finally, Guggenheim decreased their price objective on shares of Starbucks from $100.00 to $91.00 and set a “buy” rating on the stock in a research report on Friday, April 19th. Seventeen analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $95.00.

Insider Buying and Selling

In other news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $85.39, for a total transaction of $277,517.50. Following the sale, the chief executive officer now owns 81,199 shares in the company, valued at $6,933,582.61. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Starbucks news, CFO Rachel Ruggeri sold 3,750 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $80.00, for a total value of $300,000.00. Following the completion of the transaction, the chief financial officer now owns 65,431 shares of the company’s stock, valued at approximately $5,234,480. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $85.39, for a total transaction of $277,517.50. Following the sale, the chief executive officer now directly owns 81,199 shares in the company, valued at approximately $6,933,582.61. The disclosure for this sale can be found here. Insiders have sold a total of 10,750 shares of company stock worth $878,893 in the last quarter. Corporate insiders own 1.98% of the company’s stock.

Starbucks Price Performance

NASDAQ:SBUX traded down $0.27 during mid-day trading on Monday, hitting $79.64. 998,358 shares of the company’s stock were exchanged, compared to its average volume of 10,321,970. Starbucks Co. has a one year low of $71.80 and a one year high of $107.66. The business has a fifty day moving average price of $80.39 and a 200 day moving average price of $88.60. The company has a market cap of $90.21 billion, a PE ratio of 22.01, a P/E/G ratio of 1.74 and a beta of 0.96.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, April 30th. The coffee company reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). The company had revenue of $8.56 billion during the quarter, compared to the consensus estimate of $9.12 billion. Starbucks had a negative return on equity of 49.91% and a net margin of 11.38%. The business’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.74 earnings per share. On average, equities analysts forecast that Starbucks Co. will post 3.59 EPS for the current fiscal year.

Starbucks Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 16th will be given a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.86%. The ex-dividend date is Friday, August 16th. Starbucks’s dividend payout ratio is presently 62.81%.

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.