Heartland Bank & Trust Co Cuts Stake in Starbucks Co. (NASDAQ:SBUX)

Heartland Bank & Trust Co lessened its stake in Starbucks Co. (NASDAQ:SBUX) by 2.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,927 shares of the coffee company’s stock after selling 179 shares during the quarter. Heartland Bank & Trust Co’s holdings in Starbucks were worth $617,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Scarborough Advisors LLC purchased a new position in Starbucks in the fourth quarter worth about $26,000. Vima LLC bought a new stake in shares of Starbucks during the fourth quarter valued at approximately $26,000. Fairman Group LLC purchased a new position in Starbucks in the 4th quarter worth approximately $30,000. Raleigh Capital Management Inc. lifted its position in 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 acquiring an additional 198 shares in the last quarter. Finally, New Millennium Group LLC purchased a new stake in Starbucks during the 2nd quarter valued at $26,000. Institutional investors own 72.29% of the company’s stock.

Insiders Place Their Bets

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

Starbucks Stock Up 0.1 %

SBUX stock opened at $97.49 on Tuesday. The business’s 50-day moving average price is $89.16 and its 200-day moving average price is $84.19. The stock has a market cap of $110.43 billion, a P/E ratio of 26.86, a PEG ratio of 2.26 and a beta of 0.96. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $107.66.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, meeting the consensus estimate of $0.93. The business had revenue of $9.11 billion for the quarter, compared to the consensus estimate 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 quarter in the previous year, the firm earned $1.00 earnings per share. On average, equities research analysts expect that Starbucks Co. will post 3.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Evercore ISI upgraded Starbucks from an “in-line” rating to an “outperform” rating and boosted their price target for the stock from $80.00 to $120.00 in a research note on Wednesday, August 14th. Barclays boosted 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. DZ Bank downgraded shares of Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price target on the stock. in a report on Wednesday, August 21st. Deutsche Bank Aktiengesellschaft raised shares of Starbucks from a “hold” rating to a “buy” rating and boosted their price objective for the company from $85.00 to $118.00 in a report on Wednesday, August 14th. Finally, Robert W. Baird upgraded shares of Starbucks from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $81.00 to $110.00 in a research report on Tuesday, August 13th. 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $101.12.

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.