CNB Bank Has $833,000 Stake in Starbucks Co. (SBUX)

CNB Bank grew its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 14.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,208 shares of the coffee company’s stock after buying an additional 1,431 shares during the period. CNB Bank’s holdings in Starbucks were worth $833,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Lake Point Wealth Management bought a new stake in Starbucks during the 4th quarter valued at approximately $25,000. Highwater Wealth Management LLC bought a new stake in Starbucks during the 4th quarter valued at approximately $28,000. Veritas Investment Management LLP bought a new stake in Starbucks during the 4th quarter valued at approximately $28,000. Paragon Capital Management LLC bought a new stake in Starbucks during the 1st quarter valued at approximately $29,000. Finally, Mark Sheptoff Financial Planning LLC bought a new stake in Starbucks during the 4th quarter valued at approximately $32,000. 74.73% of the stock is currently owned by hedge funds and other institutional investors.

In other news, insider John Culver sold 63,937 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $78.04, for a total transaction of $4,989,643.48. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 3.98% of the company’s stock.

NASDAQ SBUX opened at $78.91 on Monday. The company has a market cap of $95.58 billion, a PE ratio of 32.61, a P/E/G ratio of 2.21 and a beta of 0.51. The company has a debt-to-equity ratio of 7.73, a quick ratio of 0.67 and a current ratio of 0.94. Starbucks Co. has a fifty-two week low of $47.37 and a fifty-two week high of $79.65.

Starbucks (NASDAQ:SBUX) last released its earnings results on Thursday, April 25th. The coffee company reported $0.60 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.04. The firm had revenue of $6.31 billion for the quarter, compared to the consensus estimate of $6.33 billion. Starbucks had a negative return on equity of 494.61% and a net margin of 11.87%. The company’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.53 EPS. On average, equities analysts expect that Starbucks Co. will post 2.78 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Thursday, May 9th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 1.82%. The ex-dividend date of this dividend is Wednesday, May 8th. Starbucks’s dividend payout ratio is currently 59.50%.

A number of research firms have issued reports on SBUX. Piper Jaffray Companies lifted their price objective on Starbucks from $60.00 to $70.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 10th. Bank of America set a $85.00 price objective on Starbucks and gave the stock a “buy” rating in a research note on Friday, April 26th. Barclays lifted their price objective on Starbucks from $69.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Friday, April 26th. Wells Fargo & Co downgraded Starbucks from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $83.00 to $80.00 in a research note on Friday, April 26th. They noted that the move was a valuation call. Finally, BidaskClub downgraded Starbucks from a “strong-buy” rating to a “buy” rating in a research note on Thursday, April 18th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. Starbucks has a consensus rating of “Buy” and an average target price of $73.88.

TRADEMARK VIOLATION WARNING: “CNB Bank Has $833,000 Stake in Starbucks Co. (SBUX)” was first reported by Sports Perspectives and is the sole property of of Sports Perspectives. If you are viewing this piece on another domain, it was copied illegally and reposted in violation of international copyright & trademark laws. The legal version of this piece can be accessed at https://sportsperspectives.com/2019/05/20/cnb-bank-has-833000-stake-in-starbucks-co-sbux.html.

Starbucks Company Profile

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in four segments: Americas; China/Asia Pacific; Europe, Middle East, and Africa; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, iced tea, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.

Read More: Moving Average (MA)

Want to see what other hedge funds are holding SBUX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Starbucks Co. (NASDAQ:SBUX).

Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

Receive News & Ratings for Starbucks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Starbucks and related companies with MarketBeat.com's FREE daily email newsletter.