Cape ANN Savings Bank Sells 10,060 Shares of Starbucks Co. (NASDAQ:SBUX)

Cape ANN Savings Bank decreased its position in shares of Starbucks Co. (NASDAQ:SBUX) by 70.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,240 shares of the coffee company’s stock after selling 10,060 shares during the period. Cape ANN Savings Bank’s holdings in Starbucks were worth $413,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Cresset Asset Management LLC increased its position in Starbucks by 1.6% during the fourth quarter. Cresset Asset Management LLC now owns 124,546 shares of the coffee company’s stock worth $11,958,000 after acquiring an additional 1,969 shares during the period. Visionary Wealth Advisors increased its holdings in shares of Starbucks by 2.6% during the 4th quarter. Visionary Wealth Advisors now owns 5,575 shares of the coffee company’s stock worth $535,000 after purchasing an additional 143 shares during the period. MGO One Seven LLC lifted its stake in shares of Starbucks by 2.7% in the fourth quarter. MGO One Seven LLC now owns 27,312 shares of the coffee company’s stock valued at $2,622,000 after buying an additional 717 shares during the period. Hancock Whitney Corp grew its position in Starbucks by 450.8% during the fourth quarter. Hancock Whitney Corp now owns 51,582 shares of the coffee company’s stock worth $4,952,000 after buying an additional 42,217 shares in the last quarter. Finally, Jacobi Capital Management LLC increased its stake in Starbucks by 1.3% during the fourth quarter. Jacobi Capital Management LLC now owns 15,735 shares of the coffee company’s stock valued at $1,511,000 after acquiring an additional 199 shares during the period. 72.29% of the stock is currently owned by institutional investors.

Starbucks Trading Up 0.1 %

NASDAQ:SBUX opened at $96.21 on Wednesday. The firm has a market capitalization of $108.98 billion, a price-to-earnings ratio of 26.50, a PEG ratio of 2.12 and a beta of 0.97. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $107.66. The business’s 50-day moving average price is $91.33 and its two-hundred day moving average price is $84.36.

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

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Barclays boosted their price objective on Starbucks from $93.00 to $110.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. Stifel Nicolaus upgraded shares of Starbucks from a “hold” rating to a “buy” rating and increased their price objective for the company from $80.00 to $110.00 in a research note on Wednesday, August 14th. Piper Sandler upgraded shares of Starbucks from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $85.00 to $103.00 in a research report on Tuesday, August 13th. Citigroup increased their price target on shares of Starbucks from $98.00 to $99.00 and gave the stock a “neutral” rating in a research report on Tuesday. Finally, BMO Capital Markets upped their price objective on Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Monday, September 9th. 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $101.16.

Insider Activity at Starbucks

In other news, CEO Rachel Ruggeri sold 3,290 shares of Starbucks stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total transaction of $299,916.40. Following the transaction, the chief executive officer now owns 62,502 shares in the company, valued at $5,697,682.32. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Starbucks news, 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 value of $299,916.40. Following the transaction, the chief executive officer now owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jorgen Vig Knudstorp acquired 380 shares of the stock in a transaction dated Friday, September 6th. The shares were bought at an average cost of $91.50 per share, with a total value of $34,770.00. Following the transaction, the director now directly owns 36,242 shares of the company’s stock, valued at $3,316,143. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.98% of the stock is owned by corporate insiders.

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.