Eastern Bank Has $1.75 Million Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Eastern Bank boosted its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 542.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 17,918 shares of the coffee company’s stock after buying an additional 15,128 shares during the period. Eastern Bank’s holdings in Starbucks were worth $1,747,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Xcel Wealth Management LLC acquired a new position in shares of Starbucks during the third quarter worth about $465,000. Graybill Wealth Management LTD. lifted its stake in Starbucks by 0.3% in the 3rd quarter. Graybill Wealth Management LTD. now owns 42,295 shares of the coffee company’s stock valued at $4,123,000 after acquiring an additional 145 shares in the last quarter. Kessler Investment Group LLC acquired a new position in Starbucks during the 3rd quarter worth approximately $470,000. Oakworth Capital Inc. grew its stake in shares of Starbucks by 11.0% during the 3rd quarter. Oakworth Capital Inc. now owns 4,330 shares of the coffee company’s stock worth $422,000 after acquiring an additional 428 shares in the last quarter. Finally, Foundations Investment Advisors LLC lifted its position in shares of Starbucks by 16.9% in the third quarter. Foundations Investment Advisors LLC now owns 23,028 shares of the coffee company’s stock worth $2,245,000 after purchasing an additional 3,330 shares in the last quarter. Institutional investors own 72.29% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on SBUX shares. BMO Capital Markets lifted their price target on shares of Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Monday, September 9th. BTIG Research increased their price target on Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Stifel Nicolaus raised Starbucks from a “hold” rating to a “buy” rating and boosted their price target for the stock from $80.00 to $110.00 in a research report on Wednesday, August 14th. Barclays increased their price objective on Starbucks from $93.00 to $110.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. Finally, Bank of America lowered their target price on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a report on Tuesday. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $102.40.

Starbucks Trading Up 0.4 %

Shares of NASDAQ:SBUX opened at $96.82 on Wednesday. The firm has a 50 day moving average of $95.31 and a 200-day moving average of $84.80. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $107.66. The stock has a market capitalization of $109.67 billion, a PE ratio of 26.67, a PEG ratio of 2.14 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, meeting the consensus estimate of $0.93. The business had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $9.25 billion. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The company’s revenue was down .6% on a year-over-year basis. During the same period in the previous year, the business earned $1.00 earnings per share. On average, research analysts predict that Starbucks Co. will post 3.55 EPS for the current fiscal year.

Starbucks Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be given a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 2.52%. This is a boost from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s payout ratio is currently 62.81%.

Insiders Place Their Bets

In related news, CEO Rachel Ruggeri sold 3,290 shares of Starbucks stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total transaction of $299,916.40. Following the sale, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Rachel Ruggeri sold 3,290 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total transaction of $299,916.40. Following the sale, the chief executive officer now owns 62,502 shares of the company’s stock, valued at $5,697,682.32. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Jorgen Vig Knudstorp bought 380 shares of the stock in a transaction on Friday, September 6th. The stock was purchased at an average cost of $91.50 per share, with a total value of $34,770.00. Following the acquisition, the director now owns 36,242 shares in the company, valued at approximately $3,316,143. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.98% of the company’s stock.

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.