Town & Country Bank & Trust CO dba First Bankers Trust CO lessened its holdings in Starbucks Co. (NASDAQ:SBUX) by 3.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 35,822 shares of the coffee company’s stock after selling 1,367 shares during the quarter. Starbucks makes up about 1.4% of Town & Country Bank & Trust CO dba First Bankers Trust CO’s holdings, making the stock its 25th largest position. Town & Country Bank & Trust CO dba First Bankers Trust CO’s holdings in Starbucks were worth $3,167,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. Invesco Ltd. boosted its stake in Starbucks by 18.4% in the second quarter. Invesco Ltd. now owns 17,382,380 shares of the coffee company’s stock valued at $1,457,167,000 after acquiring an additional 2,706,533 shares in the last quarter. FMR LLC boosted its stake in shares of Starbucks by 19.8% during the first quarter. FMR LLC now owns 10,424,208 shares of the coffee company’s stock worth $774,936,000 after buying an additional 1,720,231 shares during the period. Nuveen Asset Management LLC boosted its stake in shares of Starbucks by 977.6% during the second quarter. Nuveen Asset Management LLC now owns 7,923,411 shares of the coffee company’s stock worth $664,219,000 after buying an additional 7,188,139 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Starbucks by 8.7% during the second quarter. Charles Schwab Investment Management Inc. now owns 5,810,825 shares of the coffee company’s stock worth $487,122,000 after buying an additional 462,682 shares during the period. Finally, APG Asset Management N.V. boosted its stake in shares of Starbucks by 87.0% during the second quarter. APG Asset Management N.V. now owns 5,538,794 shares of the coffee company’s stock worth $407,725,000 after buying an additional 2,576,900 shares during the period. 70.73% of the stock is currently owned by hedge funds and other institutional investors.
Starbucks stock traded up $0.90 during mid-day trading on Friday, reaching $86.86. The company had a trading volume of 141,536 shares, compared to its average volume of 6,473,095. Starbucks Co. has a 1 year low of $54.71 and a 1 year high of $99.72. The company has a market capitalization of $101.64 billion, a P/E ratio of 35.91, a P/E/G ratio of 2.07 and a beta of 0.53. The stock’s 50-day simple moving average is $91.55 and its 200-day simple moving average is $85.17.
Starbucks (NASDAQ:SBUX) last issued its earnings results on Thursday, July 25th. The coffee company reported $0.78 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.06. Starbucks had a net margin of 13.63% and a negative return on equity of 125.91%. The company had revenue of $6.82 billion during the quarter, compared to analysts’ expectations of $6.67 billion. During the same period last year, the company posted $0.62 earnings per share. The firm’s quarterly revenue was up 8.1% compared to the same quarter last year. On average, analysts anticipate that Starbucks Co. will post 2.83 earnings per share for the current fiscal year.
In other Starbucks news, Director Myron E. Ullman III sold 9,973 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $88.63, for a total value of $883,906.99. Following the completion of the transaction, the director now directly owns 28,407 shares of the company’s stock, valued at $2,517,712.41. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Jill Walker sold 2,000 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $95.80, for a total transaction of $191,600.00. Following the completion of the transaction, the chief accounting officer now directly owns 39,999 shares of the company’s stock, valued at $3,831,904.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 142,767 shares of company stock valued at $13,730,357. 3.98% of the stock is currently owned by corporate insiders.
Several equities research analysts have recently weighed in on the stock. Credit Suisse Group assumed coverage on shares of Starbucks in a research note on Tuesday, June 25th. They set an “outperform” rating and a $92.00 target price for the company. Robert W. Baird reiterated a “hold” rating on shares of Starbucks in a research note on Wednesday, September 4th. Jefferies Financial Group increased their target price on shares of Starbucks from $96.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. ValuEngine downgraded shares of Starbucks from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Cowen set a $93.00 target price on shares of Starbucks and gave the stock a “hold” rating in a research note on Monday, September 23rd. One analyst has rated the stock with a sell rating, eighteen have given a hold rating and thirteen have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $90.10.
Starbucks Company Profile
Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in four segments: Americas; China/Asia Pacific; Europe, Middle East, and Africa; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, iced tea, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.
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