Massmutual Trust Co. FSB ADV Lowers Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Massmutual Trust Co. FSB ADV lessened its position in Starbucks Co. (NASDAQ:SBUX) by 22.0% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 112,964 shares of the coffee company’s stock after selling 31,862 shares during the period. Massmutual Trust Co. FSB ADV’s holdings in Starbucks were worth $11,013,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in SBUX. Versant Capital Management Inc boosted its position in shares of Starbucks by 7.9% in the 1st quarter. Versant Capital Management Inc now owns 1,659 shares of the coffee company’s stock worth $152,000 after buying an additional 122 shares in the last quarter. Astoria Portfolio Advisors LLC. raised its stake in Starbucks by 2.0% during the first quarter. Astoria Portfolio Advisors LLC. now owns 6,393 shares of the coffee company’s stock worth $544,000 after purchasing an additional 127 shares during the period. Edge Capital Group LLC boosted its holdings in Starbucks by 3.4% in the fourth quarter. Edge Capital Group LLC now owns 4,062 shares of the coffee company’s stock valued at $390,000 after acquiring an additional 134 shares during the last quarter. M&R Capital Management Inc. grew its stake in Starbucks by 30.9% during the second quarter. M&R Capital Management Inc. now owns 567 shares of the coffee company’s stock worth $44,000 after buying an additional 134 shares during the period. Finally, Fragasso Financial Advisors Inc boosted its position in Starbucks by 1.1% during the 2nd quarter. Fragasso Financial Advisors Inc now owns 12,837 shares of the coffee company’s stock worth $999,000 after purchasing an additional 135 shares during the period. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Stock Performance

Shares of SBUX opened at $96.50 on Thursday. The stock has a 50 day simple moving average of $90.02 and a 200 day simple moving average of $84.32. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $107.66. The firm has a market capitalization of $109.31 billion, a PE ratio of 26.58, a P/E/G ratio of 2.33 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, hitting the consensus estimate of $0.93. The firm had revenue of $9.11 billion for the quarter, compared to analysts’ expectations of $9.25 billion. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The company’s revenue for the quarter was down .6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.00 EPS. Equities research analysts predict that Starbucks Co. will post 3.56 EPS for the current fiscal year.

Insider Activity

In related news, CEO Rachel Ruggeri sold 3,290 shares of Starbucks stock in a transaction that occurred 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 approximately $5,697,682.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $94.03, for a total value of $305,597.50. Following the completion of the transaction, the chief executive officer now owns 75,054 shares of the company’s stock, valued at $7,057,327.62. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Rachel Ruggeri sold 3,290 shares of Starbucks 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 transaction, the chief executive officer now directly owns 62,502 shares in the company, valued at $5,697,682.32. The disclosure for this sale can be found here. Insiders own 1.98% of the company’s stock.

Analyst Upgrades and Downgrades

SBUX has been the subject of several recent research reports. Sanford C. Bernstein raised shares of Starbucks from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $92.00 to $115.00 in a research report on Thursday, September 26th. The Goldman Sachs Group started coverage on shares of Starbucks in a report on Thursday, June 13th. They issued a “buy” rating and a $100.00 price objective on the stock. Piper Sandler raised Starbucks from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $85.00 to $103.00 in a research report on Tuesday, August 13th. Baird R W upgraded Starbucks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 13th. Finally, Oppenheimer reissued a “market perform” rating on shares of Starbucks in a research report on Monday, August 26th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Starbucks currently has an average rating of “Moderate Buy” and a consensus target price of $101.12.

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.