Starbucks Co. (NASDAQ:SBUX) Shares Acquired by Norway Savings Bank

Norway Savings Bank raised its holdings in shares of Starbucks Co. (NASDAQ:SBUX – Get Rating) by 4.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,337 shares of the coffee company’s stock after purchasing an additional 442 shares during the period. Norway Savings Bank’s holdings in Starbucks were worth $1,025,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the business. New Millennium Group LLC acquired a new position in shares of Starbucks in the 2nd quarter valued at $25,000. Hillsdale Investment Management Inc. acquired a new position in shares of Starbucks in the 3rd quarter valued at $27,000. Bell Investment Advisors Inc increased its position in shares of Starbucks by 44.4% in the 3rd quarter. Bell Investment Advisors Inc now owns 478 shares of the coffee company’s stock valued at $40,000 after acquiring an additional 147 shares during the period. MinichMacGregor Wealth Management LLC acquired a new position in shares of Starbucks in the 4th quarter valued at $40,000. Finally, Spartan Planning & Wealth Management acquired a new position in shares of Starbucks in the 3rd quarter valued at $42,000. 69.16% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Starbucks

In other news, CFO Rachel Ruggeri sold 3,960 shares of the firm’s stock in a transaction that occurred on Monday, January 9th. The shares were sold at an average price of $106.50, for a total transaction of $421,740.00. Following the completion of the sale, the chief financial officer now owns 57,962 shares in the company, valued at approximately $6,172,953. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Rachel Ruggeri sold 3,960 shares of the firm’s stock in a transaction that occurred on Monday, January 9th. The shares were sold at an average price of $106.50, for a total transaction of $421,740.00. Following the completion of the sale, the chief financial officer now owns 57,962 shares in the company, valued at approximately $6,172,953. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Zabrina Jenkins sold 2,962 shares of the firm’s stock in a transaction that occurred on Monday, February 13th. The stock was sold at an average price of $108.48, for a total transaction of $321,317.76. Following the sale, the executive vice president now owns 38,258 shares of the company’s stock, valued at approximately $4,150,227.84. The disclosure for this sale can be found here. Insiders sold 7,658 shares of company stock worth $820,706 in the last 90 days. Insiders own 1.98% of the company’s stock.

Starbucks Price Performance

SBUX opened at $98.70 on Friday. The company’s 50 day simple moving average is $105.02 and its two-hundred day simple moving average is $97.22. Starbucks Co. has a 1-year low of $68.39 and a 1-year high of $110.83. The firm has a market capitalization of $113.44 billion, a price-to-earnings ratio of 34.39, a price-to-earnings-growth ratio of 1.69 and a beta of 0.94.

Starbucks (NASDAQ:SBUX – Get Rating) last announced its quarterly earnings results on Thursday, February 2nd. The coffee company reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.02). The firm had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.78 billion. Starbucks had a negative return on equity of 39.78% and a net margin of 10.09%. The firm’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.72 EPS. On average, equities analysts anticipate that Starbucks Co. will post 3.41 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on SBUX shares. Morgan Stanley increased their price target on Starbucks from $96.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 18th. StockNews.com started coverage on shares of Starbucks in a research note on Thursday. They set a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft lowered shares of Starbucks from a “buy” rating to a “hold” rating and increased their target price for the stock from $100.00 to $106.00 in a research note on Monday, December 5th. Wells Fargo & Company started coverage on shares of Starbucks in a research note on Monday, January 23rd. They set an “overweight” rating and a $120.00 target price on the stock. Finally, Stifel Nicolaus increased their target price on shares of Starbucks from $93.00 to $117.00 and gave the stock a “hold” rating in a research note on Monday, January 30th. Thirteen investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $108.74.

Starbucks Profile

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Starbucks Corp. engages in the production, marketing, and retailing of specialty coffee. It operates through the following segments: North America, International, Channel Development, and Corporate and Other. The North America segment focuses on the United States and Canada. The International segment is involved in China, Japan, Asia Pacific, Europe, Middle East, Africa, Latin America, and Caribbean.