First American Trust FSB Sells 592 Shares of Starbucks Co. (NASDAQ:SBUX)

First American Trust FSB decreased its position in shares of Starbucks Co. (NASDAQ:SBUXGet Rating) by 18.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,622 shares of the coffee company’s stock after selling 592 shares during the quarter. First American Trust FSB’s holdings in Starbucks were worth $238,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Steward Financial Group LLC bought a new stake in Starbucks during the fourth quarter worth $25,000. PYA Waltman Capital LLC bought a new stake in Starbucks during the fourth quarter worth $25,000. Rational Advisors LLC grew its holdings in Starbucks by 141.4% during the fourth quarter. Rational Advisors LLC now owns 210 shares of the coffee company’s stock worth $25,000 after buying an additional 123 shares in the last quarter. Guardian Wealth Management Inc. bought a new stake in Starbucks during the fourth quarter worth $25,000. Finally, Bromfield Sneider Wealth Advisors bought a new stake in Starbucks during the first quarter worth $25,000. Hedge funds and other institutional investors own 69.21% of the company’s stock.

Shares of NASDAQ SBUX opened at $73.30 on Thursday. The business’s 50 day moving average price is $75.53 and its 200-day moving average price is $89.88. Starbucks Co. has a fifty-two week low of $68.39 and a fifty-two week high of $126.32. The company has a market cap of $84.07 billion, a price-to-earnings ratio of 19.65, a PEG ratio of 2.11 and a beta of 0.97.

Starbucks (NASDAQ:SBUXGet Rating) last issued its quarterly earnings results on Tuesday, May 3rd. The coffee company reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.01). The business had revenue of $7.64 billion during the quarter, compared to analysts’ expectations of $7.60 billion. Starbucks had a negative return on equity of 53.43% and a net margin of 14.07%. The company’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.62 earnings per share. Research analysts expect that Starbucks Co. will post 2.89 EPS for the current year.

SBUX has been the subject of several recent research reports. StockNews.com downgraded Starbucks from a “buy” rating to a “hold” rating in a report on Thursday, May 12th. Cowen reduced their price objective on Starbucks from $115.00 to $94.00 in a research note on Wednesday, May 4th. TheStreet downgraded Starbucks from a “b-” rating to a “c+” rating in a research note on Friday, April 22nd. Citigroup reduced their price objective on Starbucks from $91.00 to $76.00 in a research note on Wednesday, May 4th. Finally, Barclays reduced their price objective on Starbucks from $108.00 to $94.00 in a research note on Wednesday, May 4th. Fourteen investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, Starbucks currently has an average rating of “Hold” and an average price target of $102.72.

In other news, CEO Howard D. Schultz acquired 72,500 shares of Starbucks stock in a transaction on Thursday, May 12th. The shares were bought at an average cost of $68.85 per share, for a total transaction of $4,991,625.00. Following the acquisition, the chief executive officer now directly owns 19,606,960 shares of the company’s stock, valued at approximately $1,349,939,196. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Howard D. Schultz bought 137,500 shares of the company’s stock in a transaction on Tuesday, May 10th. The shares were bought at an average cost of $72.67 per share, for a total transaction of $9,992,125.00. Following the transaction, the chief executive officer now directly owns 19,534,460 shares in the company, valued at approximately $1,419,569,208.20. The disclosure for this purchase can be found here. Company insiders own 0.27% of the company’s stock.

Starbucks Company Profile (Get Rating)

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty 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.

See Also

Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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