Private Trust Co. NA Has $1.30 Million Stake in Starbucks Co. (SBUX)

Private Trust Co. NA cut its position in Starbucks Co. (NASDAQ:SBUX) by 7.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,861 shares of the coffee company’s stock after selling 1,745 shares during the period. Private Trust Co. NA’s holdings in Starbucks were worth $1,299,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Parnassus Investments CA grew its stake in Starbucks by 26.8% during the second quarter. Parnassus Investments CA now owns 12,052,546 shares of the coffee company’s stock valued at $588,767,000 after acquiring an additional 2,543,697 shares in the last quarter. Charles Schwab Investment Advisory Inc. purchased a new position in Starbucks during the second quarter valued at $105,420,000. Magellan Asset Management Ltd grew its stake in Starbucks by 5.2% during the second quarter. Magellan Asset Management Ltd now owns 32,392,116 shares of the coffee company’s stock valued at $1,582,355,000 after acquiring an additional 1,613,187 shares in the last quarter. Fiera Capital Corp grew its stake in shares of Starbucks by 3,492.3% in the 2nd quarter. Fiera Capital Corp now owns 1,274,578 shares of the coffee company’s stock worth $62,262,000 after buying an additional 1,239,097 shares in the last quarter. Finally, Morgan Stanley grew its stake in shares of Starbucks by 2.0% in the 2nd quarter. Morgan Stanley now owns 47,116,946 shares of the coffee company’s stock worth $2,301,661,000 after buying an additional 928,175 shares in the last quarter. 71.90% of the stock is owned by hedge funds and other institutional investors.

In other news, Director Javier G. Teruel sold 166,666 shares of the company’s stock in a transaction on Friday, August 24th. The shares were sold at an average price of $52.70, for a total transaction of $8,783,298.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Myron E. Ullman III sold 99,166 shares of the company’s stock in a transaction on Wednesday, September 12th. The stock was sold at an average price of $55.05, for a total transaction of $5,459,088.30. Following the sale, the director now directly owns 29,000 shares of the company’s stock, valued at approximately $1,596,450. The disclosure for this sale can be found here. Over the last quarter, insiders sold 295,832 shares of company stock valued at $15,834,037. Company insiders own 3.48% of the company’s stock.

A number of brokerages have commented on SBUX. BMO Capital Markets dropped their price objective on shares of Starbucks from $58.00 to $56.00 and set a “market perform” rating for the company in a research note on Wednesday, June 20th. Jefferies Financial Group dropped their price objective on shares of Starbucks from $69.00 to $61.00 and set a “buy” rating for the company in a research note on Tuesday, June 26th. They noted that the move was a valuation call. Telsey Advisory Group dropped their price objective on shares of Starbucks from $60.00 to $58.00 and set a “market perform” rating for the company in a research note on Tuesday, July 17th. BidaskClub upgraded shares of Starbucks from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, Sanford C. Bernstein lowered their target price on shares of Starbucks from $64.00 to $58.00 and set a “market perform” rating for the company in a report on Tuesday, June 26th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and sixteen have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $60.21.

NASDAQ:SBUX traded up $2.11 during trading hours on Tuesday, hitting $58.65. 408,423 shares of the company were exchanged, compared to its average volume of 10,397,584. The company has a current ratio of 1.01, a quick ratio of 0.76 and a debt-to-equity ratio of 1.54. Starbucks Co. has a 52-week low of $47.37 and a 52-week high of $61.94. The company has a market cap of $76.68 billion, a PE ratio of 28.22, a P/E/G ratio of 1.69 and a beta of 0.60.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Thursday, July 26th. The coffee company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.02. Starbucks had a net margin of 18.87% and a return on equity of 67.11%. The firm had revenue of $6.31 billion during the quarter, compared to analysts’ expectations of $6.25 billion. During the same period in the previous year, the business posted $0.55 EPS. The business’s revenue was up 11.5% compared to the same quarter last year. As a group, analysts expect that Starbucks Co. will post 2.4 EPS for the current fiscal year.

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 coffee and tea products, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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