Plimoth Trust Co. LLC Sells 205 Shares of Starbucks Co. (NASDAQ:SBUX)

Plimoth Trust Co. LLC decreased its stake in Starbucks Co. (NASDAQ:SBUX) by 2.6% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 7,560 shares of the coffee company’s stock after selling 205 shares during the quarter. Plimoth Trust Co. LLC’s holdings in Starbucks were worth $691,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of SBUX. Vima LLC bought a new stake in shares of Starbucks in the 4th quarter worth about $26,000. Scarborough Advisors LLC bought a new stake in Starbucks in the fourth quarter worth about $26,000. DSM Capital Partners LLC purchased a new position in shares of Starbucks during the fourth quarter valued at approximately $27,000. Riggs Asset Managment Co. Inc. grew its stake in shares of Starbucks by 1,578.9% during the third quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock valued at $29,000 after buying an additional 300 shares during the last quarter. Finally, Fairman Group LLC bought a new stake in shares of Starbucks during the 4th quarter worth approximately $30,000. Institutional investors own 72.29% of the company’s stock.

Wall Street Analysts Forecast Growth

SBUX has been the topic of a number of recent analyst reports. Oppenheimer reiterated a “market perform” rating on shares of Starbucks in a research note on Friday, April 19th. UBS Group lowered their price objective on shares of Starbucks from $95.00 to $85.00 and set a “neutral” rating for the company in a research report on Wednesday, May 1st. HSBC dropped their target price on shares of Starbucks from $107.00 to $84.00 and set a “hold” rating on the stock in a research note on Friday, May 3rd. JPMorgan Chase & Co. lowered their price target on Starbucks from $100.00 to $92.00 and set an “overweight” rating for the company in a report on Wednesday, May 1st. Finally, Piper Sandler dropped their price objective on Starbucks from $88.00 to $85.00 and set a “neutral” rating on the stock in a research note on Monday, May 6th. Seventeen analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $94.54.

Starbucks Trading Down 0.4 %

NASDAQ SBUX opened at $76.83 on Wednesday. The firm’s fifty day simple moving average is $79.44 and its two-hundred day simple moving average is $87.80. The firm has a market capitalization of $87.03 billion, a P/E ratio of 21.17, a P/E/G ratio of 1.70 and a beta of 0.94. Starbucks Co. has a 12-month low of $71.80 and a 12-month high of $107.66.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Tuesday, April 30th. The coffee company reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.11). Starbucks had a negative return on equity of 49.91% and a net margin of 11.38%. The business had revenue of $8.56 billion for the quarter, compared to analysts’ expectations of $9.12 billion. During the same quarter last year, the firm earned $0.74 earnings per share. The firm’s quarterly revenue was down 1.8% compared to the same quarter last year. As a group, sell-side analysts predict that Starbucks Co. will post 3.59 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date is Friday, August 16th. Starbucks’s dividend payout ratio (DPR) is presently 62.81%.

Insider Buying and Selling at Starbucks

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

Starbucks 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.