City Holding Co. Acquires 1,117 Shares of Starbucks Co. (NASDAQ:SBUX)

City Holding Co. lifted its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 3.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,634 shares of the coffee company’s stock after purchasing an additional 1,117 shares during the period. City Holding Co.’s holdings in Starbucks were worth $2,907,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Daymark Wealth Partners LLC lifted its stake in Starbucks by 3.3% in the first quarter. Daymark Wealth Partners LLC now owns 11,692 shares of the coffee company’s stock valued at $1,147,000 after buying an additional 369 shares during the period. Portside Wealth Group LLC increased its position in Starbucks by 141.1% in the 1st quarter. Portside Wealth Group LLC now owns 36,221 shares of the coffee company’s stock valued at $3,553,000 after buying an additional 21,197 shares in the last quarter. Moss Adams Wealth Advisors LLC raised its position in shares of Starbucks by 7.3% during the first quarter. Moss Adams Wealth Advisors LLC now owns 8,416 shares of the coffee company’s stock worth $825,000 after purchasing an additional 570 shares during the period. Wesbanco Bank Inc. lifted its stake in shares of Starbucks by 1.5% in the first quarter. Wesbanco Bank Inc. now owns 135,410 shares of the coffee company’s stock valued at $13,282,000 after buying an additional 1,949 shares in the last quarter. Finally, First Citizens Bank & Trust Co. lifted its position in Starbucks by 2.8% in the 1st quarter. First Citizens Bank & Trust Co. now owns 19,144 shares of the coffee company’s stock valued at $1,878,000 after acquiring an additional 527 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Royal Bank of Canada downgraded Starbucks from an “outperform” rating to a “sector perform” rating in a research note on Thursday, May 29th. TD Cowen reissued a “hold” rating and issued a $90.00 price target on shares of Starbucks in a research report on Thursday, May 29th. Stifel Nicolaus cut their target price on Starbucks from $103.00 to $92.00 and set a “buy” rating for the company in a research note on Wednesday, April 30th. Jefferies Financial Group upgraded shares of Starbucks from an “underperform” rating to a “hold” rating and set a $76.00 price target for the company in a research report on Wednesday, April 9th. Finally, Argus raised shares of Starbucks from a “hold” rating to a “buy” rating and set a $115.00 target price on the stock in a research note on Tuesday, March 18th. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $97.92.

Starbucks Price Performance

Shares of SBUX stock opened at $89.64 on Monday. The firm’s 50-day moving average is $84.45 and its two-hundred day moving average is $95.14. The company has a market capitalization of $101.87 billion, a PE ratio of 28.92, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $117.46.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, April 29th. The coffee company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.10). The business had revenue of $8.76 billion for the quarter, compared to analysts’ expectations of $8.90 billion. Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter last year, the company earned $0.68 earnings per share. Sell-side analysts forecast that Starbucks Co. will post 2.99 EPS for the current year.

Starbucks Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were paid a dividend of $0.61 per share. The ex-dividend date of this dividend was Friday, May 16th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.72%. Starbucks’s dividend payout ratio (DPR) is 88.41%.

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.