Atlantic Union Bankshares Corp Sells 2,126 Shares of Starbucks Co. (NASDAQ:SBUX)

Atlantic Union Bankshares Corp lowered its position in Starbucks Co. (NASDAQ:SBUX) by 4.8% in the 3rd quarter, Holdings Channel reports. The fund owned 42,424 shares of the coffee company’s stock after selling 2,126 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in Starbucks were worth $4,136,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. FMR LLC raised its position in shares of Starbucks by 55.0% in the 3rd quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock worth $1,928,339,000 after acquiring an additional 7,015,375 shares in the last quarter. Fisher Asset Management LLC raised its position in shares of Starbucks by 2.9% in the 3rd quarter. Fisher Asset Management LLC now owns 11,762,684 shares of the coffee company’s stock worth $1,146,744,000 after acquiring an additional 327,734 shares in the last quarter. Legal & General Group Plc raised its position in shares of Starbucks by 2.6% in the 2nd quarter. Legal & General Group Plc now owns 8,720,903 shares of the coffee company’s stock worth $678,923,000 after acquiring an additional 221,718 shares in the last quarter. Van ECK Associates Corp raised its position in shares of Starbucks by 108.1% in the 2nd quarter. Van ECK Associates Corp now owns 4,475,156 shares of the coffee company’s stock worth $348,391,000 after acquiring an additional 2,324,847 shares in the last quarter. Finally, Swiss National Bank raised its position in shares of Starbucks by 0.3% in the 3rd quarter. Swiss National Bank now owns 3,362,100 shares of the coffee company’s stock worth $327,771,000 after acquiring an additional 9,900 shares in the last quarter. Institutional investors own 72.29% of the company’s stock.

Insiders Place Their Bets

In other news, Director Jorgen Vig Knudstorp acquired 380 shares of Starbucks stock in a transaction on Friday, September 6th. The shares were acquired at an average price of $91.50 per share, with a total value of $34,770.00. Following the purchase, the director now directly owns 36,242 shares in the company, valued at $3,316,143. The trade was a 1.06 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Rachel Ruggeri sold 1,452 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $99.07, for a total value of $143,849.64. Following the transaction, the chief financial officer now owns 65,648 shares of the company’s stock, valued at $6,503,747.36. This represents a 2.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.98% of the company’s stock.

Starbucks Stock Up 0.8 %

NASDAQ SBUX opened at $101.51 on Friday. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $103.32. The business has a 50-day moving average price of $97.50 and a 200-day moving average price of $87.74. The firm has a market cap of $115.09 billion, a price-to-earnings ratio of 30.67, a price-to-earnings-growth ratio of 2.97 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, hitting the consensus estimate of $0.80. The business had revenue of $9.07 billion during the quarter, compared to the consensus estimate of $9.60 billion. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The firm’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.06 EPS. Research analysts expect that Starbucks Co. will post 3.12 EPS for the current fiscal year.

Starbucks Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a $0.61 dividend. This is an increase from Starbucks’s previous quarterly dividend of $0.57. This represents a $2.44 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date is Friday, November 15th. Starbucks’s payout ratio is currently 73.72%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on SBUX. DZ Bank lowered Starbucks from a “hold” rating to a “sell” rating and set a $85.00 target price for the company. in a research report on Wednesday, August 21st. Evercore ISI upgraded Starbucks from an “in-line” rating to an “outperform” rating and upped their price target for the stock from $80.00 to $120.00 in a research note on Wednesday, August 14th. Barclays cut their price target on Starbucks from $110.00 to $108.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Bank of America cut their price target on Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a research note on Tuesday, October 22nd. Finally, Deutsche Bank Aktiengesellschaft upgraded Starbucks from a “hold” rating to a “buy” rating and upped their price target for the stock from $85.00 to $118.00 in a research note on Wednesday, August 14th. Three analysts have rated the stock with a sell rating, nine have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $103.77.

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.