Hancock Whitney Corp Has $878,000 Position in Starbucks Co. (NASDAQ:SBUX)

Hancock Whitney Corp cut its position in shares of Starbucks Co. (NASDAQ:SBUX) by 79.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,276 shares of the coffee company’s stock after selling 42,384 shares during the quarter. Hancock Whitney Corp’s holdings in Starbucks were worth $878,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SBUX. Scarborough Advisors LLC acquired a new stake in shares of Starbucks during the 4th quarter worth approximately $26,000. Vima LLC bought a new position in Starbucks in the fourth quarter worth $26,000. DSM Capital Partners LLC acquired a new stake in Starbucks during the fourth quarter worth $27,000. Fairman Group LLC bought a new stake in Starbucks in the 4th quarter valued at $30,000. Finally, Raleigh Capital Management Inc. raised its stake in shares of Starbucks by 150.0% in the 4th quarter. Raleigh Capital Management Inc. now owns 330 shares of the coffee company’s stock valued at $32,000 after buying an additional 198 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Rachel Ruggeri sold 3,290 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total transaction of $299,916.40. Following the completion of the sale, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at $5,697,682.32. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Rachel Ruggeri sold 3,290 shares of Starbucks stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total transaction of $299,916.40. Following the completion of the sale, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at $5,697,682.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Jorgen Vig Knudstorp acquired 380 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was bought at an average price of $91.50 per share, with a total value of $34,770.00. Following the acquisition, the director now directly owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. The disclosure for this purchase can be found here. Insiders own 1.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on SBUX. JPMorgan Chase & Co. lowered their target price on shares of Starbucks from $92.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 10th. DZ Bank lowered Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price objective on the stock. in a research note on Wednesday, August 21st. Barclays raised their target price on Starbucks from $93.00 to $110.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. Morgan Stanley reiterated an “overweight” rating and issued a $98.00 price target on shares of Starbucks in a research report on Wednesday, July 31st. Finally, Stifel Nicolaus upgraded shares of Starbucks from a “hold” rating to a “buy” rating and boosted their target price for the company from $80.00 to $110.00 in a research note on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $100.08.

Starbucks Stock Performance

Shares of SBUX opened at $96.05 on Monday. The business’s fifty day moving average price is $86.67 and its two-hundred day moving average price is $83.99. The firm has a market capitalization of $108.84 billion, a price-to-earnings ratio of 26.46, a PEG ratio of 2.31 and a beta of 0.96. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $107.66.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.93. The business had revenue of $9.11 billion for the quarter, compared to analysts’ expectations of $9.25 billion. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The firm’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter last year, the business earned $1.00 earnings per share. As a group, research analysts forecast that Starbucks Co. will post 3.56 EPS for the current year.

Starbucks Company 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.