Starbucks Co. (NASDAQ:SBUX) Shares Acquired by Mechanics Bank Trust Department

Mechanics Bank Trust Department increased its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 14.7% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 11,132 shares of the coffee company’s stock after purchasing an additional 1,425 shares during the period. Mechanics Bank Trust Department’s holdings in Starbucks were worth $1,085,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in SBUX. Cox Capital Mgt LLC boosted its stake in Starbucks by 41.9% in the 1st quarter. Cox Capital Mgt LLC now owns 45,322 shares of the coffee company’s stock worth $4,142,000 after purchasing an additional 13,372 shares in the last quarter. Fidelis Capital Partners LLC lifted its stake in shares of Starbucks by 18.7% during the first quarter. Fidelis Capital Partners LLC now owns 11,116 shares of the coffee company’s stock worth $1,016,000 after buying an additional 1,751 shares during the period. AMI Asset Management Corp grew its holdings in shares of Starbucks by 2.8% during the first quarter. AMI Asset Management Corp now owns 365,292 shares of the coffee company’s stock valued at $33,384,000 after buying an additional 10,092 shares during the last quarter. LRI Investments LLC acquired a new position in shares of Starbucks in the 1st quarter valued at $136,000. Finally, BNP Paribas purchased a new position in Starbucks in the 1st quarter worth $9,332,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Starbucks

In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total value of $299,916.40. Following the sale, the chief executive officer now directly owns 62,502 shares in the company, valued at approximately $5,697,682.32. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the firm’s 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 sale, the chief executive officer now owns 62,502 shares in the company, valued at approximately $5,697,682.32. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $94.03, for a total value of $305,597.50. Following the completion of the sale, the chief executive officer now owns 75,054 shares in the company, valued at approximately $7,057,327.62. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.98% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on SBUX. BMO Capital Markets lifted their price objective on shares of Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Monday, September 9th. Jefferies Financial Group lowered shares of Starbucks from a “hold” rating to an “underperform” rating and lowered their price target for the company from $80.00 to $76.00 in a report on Tuesday, September 24th. Stifel Nicolaus upgraded Starbucks from a “hold” rating to a “buy” rating and lifted their price objective for the company from $80.00 to $110.00 in a research note on Wednesday, August 14th. Barclays upped their target price on Starbucks from $93.00 to $110.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. Finally, Piper Sandler raised Starbucks from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $85.00 to $103.00 in a report on Tuesday, August 13th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Starbucks presently has a consensus rating of “Moderate Buy” and an average target price of $101.16.

Starbucks Stock Performance

Shares of SBUX opened at $95.55 on Monday. Starbucks Co. has a one year low of $71.55 and a one year high of $107.66. The stock has a 50-day moving average price of $92.86 and a 200 day moving average price of $84.49. The company has a market capitalization of $108.28 billion, a P/E ratio of 26.76, a P/E/G ratio of 2.06 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates 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%. The company’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.00 EPS. As a group, equities research analysts forecast that Starbucks Co. will post 3.55 earnings per share for the current fiscal year.

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.