Truist Financial Corp Sells 110,071 Shares of Starbucks Co. (NASDAQ:SBUX)

Truist Financial Corp trimmed its position in Starbucks Co. (NASDAQ:SBUX) by 12.8% in the fourth quarter, Holdings Channel reports. The fund owned 751,718 shares of the coffee company’s stock after selling 110,071 shares during the quarter. Truist Financial Corp’s holdings in Starbucks were worth $72,172,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Cerity Partners LLC grew its holdings in Starbucks by 481.9% during the 4th quarter. Cerity Partners LLC now owns 1,547,411 shares of the coffee company’s stock worth $148,567,000 after acquiring an additional 1,281,471 shares during the period. Metis Global Partners LLC grew its holdings in Starbucks by 15.4% during the 3rd quarter. Metis Global Partners LLC now owns 56,939 shares of the coffee company’s stock worth $5,197,000 after acquiring an additional 7,619 shares during the period. Tyche Wealth Partners LLC acquired a new stake in Starbucks during the 4th quarter worth about $794,000. Insigneo Advisory Services LLC grew its holdings in Starbucks by 60.6% during the 3rd quarter. Insigneo Advisory Services LLC now owns 9,464 shares of the coffee company’s stock worth $864,000 after acquiring an additional 3,570 shares during the period. Finally, Motco grew its holdings in Starbucks by 1.1% during the 3rd quarter. Motco now owns 74,829 shares of the coffee company’s stock worth $6,830,000 after acquiring an additional 811 shares during the period. 72.29% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $85.39, for a total value of $277,517.50. Following the sale, the chief executive officer now 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 available at the SEC website. In the last quarter, insiders have sold 7,250 shares of company stock valued at $651,738. 1.98% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on SBUX shares. BMO Capital Markets reduced their target price on Starbucks from $125.00 to $120.00 and set an “outperform” rating for the company in a research note on Wednesday, January 31st. BTIG Research reduced their target price on Starbucks from $125.00 to $115.00 and set a “buy” rating for the company in a research note on Wednesday, January 31st. Morgan Stanley reduced their target price on Starbucks from $120.00 to $115.00 and set an “overweight” rating for the company in a research note on Friday, April 12th. Oppenheimer restated a “market perform” rating on shares of Starbucks in a research note on Friday, April 19th. Finally, Stephens reaffirmed an “equal weight” rating and issued a $110.00 price target on shares of Starbucks in a research report on Wednesday, January 31st. Fourteen research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, Starbucks currently has an average rating of “Hold” and an average target price of $106.55.

Starbucks Stock Up 0.5 %

Starbucks stock opened at $88.25 on Friday. Starbucks Co. has a 52 week low of $84.29 and a 52 week high of $115.48. The company’s 50 day moving average price is $90.36 and its two-hundred day moving average price is $94.28. The stock has a market cap of $99.92 billion, a P/E ratio of 23.60, a P/E/G ratio of 1.48 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Wednesday, January 31st. The coffee company reported $0.90 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.02). Starbucks had a negative return on equity of 50.76% and a net margin of 11.70%. The firm had revenue of $9.43 billion for the quarter, compared to the consensus estimate of $9.60 billion. During the same period in the prior year, the business earned $0.75 EPS. Starbucks’s quarterly revenue was up 8.2% compared to the same quarter last year. On average, equities analysts anticipate that Starbucks Co. will post 3.99 EPS for the current year.

Starbucks Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be issued a $0.57 dividend. The ex-dividend date is Thursday, May 16th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.58%. Starbucks’s dividend payout ratio (DPR) is presently 60.96%.

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.