Starbucks Co. (NASDAQ:SBUX) Shares Sold by Bath Savings Trust Co

Bath Savings Trust Co cut its stake in Starbucks Co. (NASDAQ:SBUX) by 42.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 37,707 shares of the coffee company’s stock after selling 28,129 shares during the period. Bath Savings Trust Co’s holdings in Starbucks were worth $3,676,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Ontario Teachers Pension Plan Board acquired a new position in Starbucks during the first quarter worth $415,167,000. Marshall Wace LLP boosted its position in shares of Starbucks by 1,466.3% in the 2nd quarter. Marshall Wace LLP now owns 3,350,932 shares of the coffee company’s stock worth $260,870,000 after buying an additional 3,136,992 shares in the last quarter. Diamond Hill Capital Management Inc. purchased a new position in Starbucks during the 2nd quarter valued at about $243,910,000. Flossbach Von Storch AG increased its holdings in Starbucks by 106.7% during the 1st quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company’s stock valued at $512,943,000 after acquiring an additional 2,897,282 shares in the last quarter. Finally, Capital World Investors purchased a new stake in shares of Starbucks in the first quarter valued at about $257,721,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Bank of America raised their price objective on shares of Starbucks from $112.00 to $118.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. TD Cowen restated a “buy” rating and issued a $110.00 price objective on shares of Starbucks in a research report on Thursday, September 12th. Oppenheimer reiterated a “market perform” rating on shares of Starbucks in a research report on Monday, August 26th. Barclays upped their target price on shares of Starbucks from $93.00 to $110.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $98.00 price objective on shares of Starbucks in a research report on Wednesday, July 31st. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $101.12.

Insiders Place Their Bets

In other news, Director Jorgen Vig Knudstorp bought 380 shares of Starbucks stock in a transaction dated Friday, September 6th. The shares were acquired at an average cost of $91.50 per share, with a total value of $34,770.00. Following the completion of the transaction, the director now owns 36,242 shares in the company, valued at approximately $3,316,143. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $94.03, for a total value of $305,597.50. Following the completion of the sale, the chief executive officer now owns 75,054 shares of the company’s stock, valued at approximately $7,057,327.62. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jorgen Vig Knudstorp bought 380 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was purchased at an average price of $91.50 per share, with a total value of $34,770.00. Following the transaction, the director now owns 36,242 shares in the company, valued at approximately $3,316,143. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 1.98% of the stock is owned by company insiders.

Starbucks Stock Down 0.5 %

Starbucks stock opened at $96.09 on Tuesday. The firm has a fifty day moving average of $90.91 and a 200-day moving average of $84.33. 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 $108.84 billion, a P/E ratio of 26.47, a PEG ratio of 2.12 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, meeting the consensus estimate of $0.93. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The company had revenue of $9.11 billion for the quarter, compared to analyst estimates of $9.25 billion. During the same period last year, the company posted $1.00 earnings per share. The firm’s revenue was down .6% compared to the same quarter last year. On average, research analysts expect that Starbucks Co. will post 3.55 EPS for the current fiscal year.

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.