Canandaigua National Corp Sells 280 Shares of Starbucks Co. (NASDAQ:SBUX)

Canandaigua National Corp trimmed its holdings in Starbucks Co. (NASDAQ:SBUXGet Rating) by 6.9% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,777 shares of the coffee company’s stock after selling 280 shares during the quarter. Canandaigua National Corp’s holdings in Starbucks were worth $289,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. increased its position in Starbucks by 2.8% in the first quarter. Vanguard Group Inc. now owns 101,414,654 shares of the coffee company’s stock worth $9,225,691,000 after purchasing an additional 2,733,608 shares during the period. BlackRock Inc. increased its position in Starbucks by 10.3% in the fourth quarter. BlackRock Inc. now owns 82,463,592 shares of the coffee company’s stock worth $9,645,766,000 after purchasing an additional 7,672,037 shares during the period. State Street Corp grew its position in shares of Starbucks by 3.5% during the 4th quarter. State Street Corp now owns 48,495,841 shares of the coffee company’s stock worth $5,672,559,000 after buying an additional 1,649,721 shares during the period. Fundsmith LLP grew its position in shares of Starbucks by 7.7% during the 4th quarter. Fundsmith LLP now owns 11,576,749 shares of the coffee company’s stock worth $1,354,132,000 after buying an additional 831,723 shares during the period. Finally, Capital Research Global Investors grew its position in shares of Starbucks by 28.0% during the 1st quarter. Capital Research Global Investors now owns 10,948,617 shares of the coffee company’s stock worth $995,996,000 after buying an additional 2,395,500 shares during the period. 67.97% of the stock is owned by institutional investors.

Starbucks Price Performance

Shares of NASDAQ SBUX opened at $90.79 on Wednesday. The stock’s fifty day moving average price is $85.41 and its two-hundred day moving average price is $81.36. Starbucks Co. has a one year low of $68.39 and a one year high of $117.80. The firm has a market cap of $104.17 billion, a price-to-earnings ratio of 25.57, a P/E/G ratio of 2.48 and a beta of 0.94.

Starbucks (NASDAQ:SBUXGet Rating) last released its earnings results on Tuesday, August 2nd. The coffee company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.07. Starbucks had a negative return on equity of 47.28% and a net margin of 13.03%. During the same quarter last year, the company posted $1.01 EPS. On average, equities analysts anticipate that Starbucks Co. will post 2.88 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 26th. Stockholders of record on Friday, August 12th were issued a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 2.16%. The ex-dividend date of this dividend was Thursday, August 11th. Starbucks’s dividend payout ratio (DPR) is currently 55.21%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Barclays boosted their target price on Starbucks from $96.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 14th. JPMorgan Chase & Co. boosted their price objective on Starbucks from $92.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, September 14th. Robert W. Baird boosted their price objective on Starbucks from $86.00 to $94.00 and gave the company a “neutral” rating in a research report on Wednesday, September 14th. Cowen boosted their price objective on Starbucks from $94.00 to $104.00 and gave the company an “outperform” rating in a research report on Thursday, August 18th. Finally, Piper Sandler boosted their price objective on Starbucks from $84.00 to $92.00 and gave the company a “neutral” rating in a research report on Friday, September 16th. Fifteen research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, Starbucks presently has a consensus rating of “Hold” and a consensus price target of $104.71.

Insider Buying and Selling

In related news, EVP Zabrina Jenkins sold 4,020 shares of the company’s stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $93.00, for a total transaction of $373,860.00. Following the completion of the sale, the executive vice president now directly owns 36,337 shares in the company, valued at approximately $3,379,341. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, EVP Zabrina Jenkins sold 4,020 shares of the company’s stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $93.00, for a total transaction of $373,860.00. Following the completion of the sale, the executive vice president now directly owns 36,337 shares in the company, valued at approximately $3,379,341. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Mellody L. Hobson acquired 54,750 shares of the company’s stock in a transaction that occurred on Thursday, September 15th. The shares were acquired at an average price of $92.58 per share, with a total value of $5,068,755.00. Following the completion of the transaction, the director now owns 433,254 shares in the company, valued at $40,110,655.32. The disclosure for this purchase can be found here. 0.27% of the stock is owned by corporate insiders.

About Starbucks

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Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty 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.

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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