First National Bank of Omaha Acquires New Position in Starbucks Co. (NASDAQ:SBUX)

First National Bank of Omaha acquired a new stake in Starbucks Co. (NASDAQ:SBUX) in the 3rd quarter, Holdings Channel.com reports. The firm acquired 2,762 shares of the coffee company’s stock, valued at approximately $244,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in SBUX. First American Trust FSB acquired a new position in Starbucks during the second quarter worth about $212,000. OneAscent Financial Services LLC acquired a new position in shares of Starbucks in the second quarter valued at approximately $956,000. KBC Group NV raised its position in shares of Starbucks by 30.6% in the second quarter. KBC Group NV now owns 958,914 shares of the coffee company’s stock valued at $80,385,000 after buying an additional 224,640 shares during the last quarter. Janney Montgomery Scott LLC raised its position in shares of Starbucks by 0.5% in the second quarter. Janney Montgomery Scott LLC now owns 209,160 shares of the coffee company’s stock valued at $17,534,000 after buying an additional 1,046 shares during the last quarter. Finally, CWM LLC raised its position in shares of Starbucks by 4.8% in the second quarter. CWM LLC now owns 21,200 shares of the coffee company’s stock valued at $1,777,000 after buying an additional 963 shares during the last quarter. Hedge funds and other institutional investors own 70.68% of the company’s stock.

In related news, CAO Jill Walker sold 2,000 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $95.80, for a total value of $191,600.00. Following the transaction, the chief accounting officer now owns 39,999 shares in the company, valued at $3,831,904.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Vivek C. Varma sold 21,128 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $95.86, for a total value of $2,025,330.08. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 112,885 shares of company stock valued at $10,707,543. Insiders own 3.98% of the company’s stock.

Starbucks stock opened at $81.77 on Friday. The company has a market cap of $98.02 billion, a price-to-earnings ratio of 28.89, a PEG ratio of 2.03 and a beta of 0.53. Starbucks Co. has a 1 year low of $60.42 and a 1 year high of $99.72. The firm has a 50 day moving average price of $85.72 and a 200 day moving average price of $86.55.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.70 EPS for the quarter, hitting the consensus estimate of $0.70. The business had revenue of $6.75 billion during the quarter, compared to analyst estimates of $6.68 billion. Starbucks had a net margin of 13.58% and a negative return on equity of 75.45%. The company’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.62 earnings per share. As a group, analysts anticipate that Starbucks Co. will post 3.05 EPS for the current fiscal year.

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The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Wednesday, November 13th will be given a dividend of $0.41 per share. This is a positive change from Starbucks’s previous quarterly dividend of $0.36. The ex-dividend date is Tuesday, November 12th. This represents a $1.64 annualized dividend and a dividend yield of 2.01%. Starbucks’s dividend payout ratio (DPR) is 50.88%.

A number of research firms have recently weighed in on SBUX. ValuEngine lowered shares of Starbucks from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Goldman Sachs Group began coverage on shares of Starbucks in a research report on Monday, July 29th. They issued a “buy” rating and a $110.00 price objective for the company. Stephens boosted their price objective on shares of Starbucks from $72.00 to $90.00 and gave the company an “equal weight” rating in a research report on Friday, July 26th. BidaskClub lowered shares of Starbucks from a “hold” rating to a “sell” rating in a research report on Saturday, October 26th. Finally, Bank of America cut their price objective on shares of Starbucks from $100.00 to $97.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, eighteen have given a hold rating and thirteen have given a buy rating to the company’s stock. Starbucks currently has an average rating of “Hold” and an average price target of $89.64.

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.

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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