Oakworth Capital Inc. Buys 428 Shares of Starbucks Co. (NASDAQ:SBUX)

Oakworth Capital Inc. lifted its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 11.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,330 shares of the coffee company’s stock after purchasing an additional 428 shares during the quarter. Oakworth Capital Inc.’s holdings in Starbucks were worth $422,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Riverview Trust Co raised its holdings in Starbucks by 3.4% in the 3rd quarter. Riverview Trust Co now owns 3,199 shares of the coffee company’s stock worth $312,000 after purchasing an additional 105 shares during the period. Astoria Portfolio Advisors LLC. raised its holdings in Starbucks by 2.0% in the 1st quarter. Astoria Portfolio Advisors LLC. now owns 6,393 shares of the coffee company’s stock worth $544,000 after purchasing an additional 127 shares during the period. Keystone Wealth Services LLC raised its holdings in Starbucks by 1.3% in the 3rd quarter. Keystone Wealth Services LLC now owns 10,151 shares of the coffee company’s stock worth $990,000 after purchasing an additional 130 shares during the period. Chicago Capital LLC raised its holdings in Starbucks by 0.6% in the 3rd quarter. Chicago Capital LLC now owns 21,129 shares of the coffee company’s stock worth $2,060,000 after purchasing an additional 132 shares during the period. Finally, M&R Capital Management Inc. raised its holdings in Starbucks by 30.9% in the 2nd quarter. M&R Capital Management Inc. now owns 567 shares of the coffee company’s stock worth $44,000 after purchasing an additional 134 shares during the period. 72.29% of the stock is currently owned by institutional investors.

Starbucks Trading Down 0.2 %

SBUX opened at $96.27 on Tuesday. The firm has a market cap of $109.05 billion, a P/E ratio of 26.57, a P/E/G ratio of 2.14 and a beta of 0.97. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $107.66. The stock has a 50-day moving average of $95.29 and a 200 day moving average of $84.73.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.93. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The business had revenue of $9.11 billion during the quarter, compared to analyst estimates of $9.25 billion. During the same quarter in the previous year, the business earned $1.00 earnings per share. The company’s revenue for the quarter was down .6% compared to the same quarter last year. On average, research analysts forecast that Starbucks Co. will post 3.55 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Morgan Stanley raised their target price on Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. BTIG Research raised their price target on Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft raised Starbucks from a “hold” rating to a “buy” rating and raised their price target for the company from $85.00 to $118.00 in a report on Wednesday, August 14th. TD Cowen reissued a “buy” rating and set a $110.00 price target on shares of Starbucks in a report on Thursday, September 12th. Finally, Stifel Nicolaus raised Starbucks from a “hold” rating to a “buy” rating and raised their price target for the company from $80.00 to $110.00 in a report on Wednesday, August 14th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Starbucks currently has a consensus rating of “Moderate Buy” and a consensus target price of $102.44.

Insider Buying and Selling at Starbucks

In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total transaction of $299,916.40. Following the completion of 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total transaction of $299,916.40. Following the completion of 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jorgen Vig Knudstorp bought 380 shares of the company’s stock in a transaction on Friday, September 6th. The shares were acquired at an average price 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 approximately $3,316,143. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.98% of the company’s stock.

About Starbucks

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.