Trust Co of Kansas Sells 6,338 Shares of Starbucks Co. (NASDAQ:SBUX)

Trust Co of Kansas cut its position in Starbucks Co. (NASDAQ:SBUX – Get Rating) by 10.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 51,586 shares of the coffee company’s stock after selling 6,338 shares during the quarter. Starbucks accounts for about 2.9% of Trust Co of Kansas’ holdings, making the stock its 17th biggest holding. Trust Co of Kansas’ holdings in Starbucks were worth $4,347,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. New Millennium Group LLC bought a new position in Starbucks during the 2nd quarter worth $25,000. Hillsdale Investment Management Inc. acquired a new stake in shares of Starbucks in the third quarter valued at about $27,000. Bell Investment Advisors Inc raised its position in shares of Starbucks by 44.4% during the third quarter. Bell Investment Advisors Inc now owns 478 shares of the coffee company’s stock worth $40,000 after acquiring an additional 147 shares during the last quarter. Spartan Planning & Wealth Management acquired a new position in shares of Starbucks in the third quarter worth approximately $42,000. Finally, Ameliora Wealth Management Ltd. bought a new stake in Starbucks in the third quarter valued at approximately $43,000. 69.16% of the stock is owned by institutional investors and hedge funds.

Starbucks Price Performance

SBUX opened at $99.34 on Thursday. Starbucks Co. has a fifty-two week low of $68.39 and a fifty-two week high of $110.83. The company’s 50-day moving average is $105.26 and its 200 day moving average is $97.10. The firm has a market capitalization of $114.17 billion, a P/E ratio of 34.61, a PEG ratio of 1.69 and a beta of 0.94.

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Morgan Stanley boosted their price target on shares of Starbucks from $96.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 18th. Deutsche Bank Aktiengesellschaft lowered Starbucks from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $100.00 to $106.00 in a research report on Monday, December 5th. Citigroup upped their target price on Starbucks from $111.00 to $112.00 and gave the company a “neutral” rating in a research report on Monday, February 6th. StockNews.com downgraded Starbucks from a “buy” rating to a “hold” rating in a report on Friday, February 3rd. Finally, Bank of America increased their price target on Starbucks from $109.00 to $125.00 in a report on Tuesday, January 3rd. Thirteen investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Starbucks has an average rating of “Hold” and an average target price of $108.46.

Insider Activity

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

About Starbucks

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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.