Indiana Trust & Investment Management CO Grows Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Indiana Trust & Investment Management CO raised its stake in Starbucks Co. (NASDAQ:SBUX) by 5.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,145 shares of the coffee company’s stock after buying an additional 175 shares during the period. Indiana Trust & Investment Management CO’s holdings in Starbucks were worth $312,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. BCK Partners Inc. purchased a new stake in shares of Starbucks in the 1st quarter worth approximately $2,640,000. American Century Companies Inc. lifted its position in shares of Starbucks by 7.3% in the 1st quarter. American Century Companies Inc. now owns 27,634 shares of the coffee company’s stock worth $2,514,000 after purchasing an additional 1,872 shares during the period. Roundview Capital LLC lifted its position in shares of Starbucks by 37.5% in the 1st quarter. Roundview Capital LLC now owns 7,152 shares of the coffee company’s stock worth $651,000 after purchasing an additional 1,952 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Starbucks in the 1st quarter worth approximately $198,000. Finally, Mather Group LLC. lifted its position in shares of Starbucks by 77.5% in the 1st quarter. Mather Group LLC. now owns 6,912 shares of the coffee company’s stock worth $629,000 after purchasing an additional 3,017 shares during the period. 70.13% of the stock is owned by hedge funds and other institutional investors.

Starbucks Stock Down 0.3 %

Shares of NASDAQ:SBUX traded down $0.29 during midday trading on Friday, reaching $96.87. The company’s stock had a trading volume of 2,132,926 shares, compared to its average volume of 6,204,478. The firm has a market capitalization of $110.95 billion, a PE ratio of 29.62, a P/E/G ratio of 1.70 and a beta of 0.93. Starbucks Co. has a twelve month low of $82.43 and a twelve month high of $115.48. The stock has a fifty day moving average of $99.16 and a 200 day moving average of $101.51.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Tuesday, August 1st. The coffee company reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.05. The firm had revenue of $9.17 billion for the quarter, compared to analyst estimates of $9.29 billion. Starbucks had a net margin of 10.81% and a negative return on equity of 44.46%. The business’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.84 earnings per share. Sell-side analysts anticipate that Starbucks Co. will post 3.45 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on SBUX. Bank of America increased their target price on shares of Starbucks from $131.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, July 21st. Stephens reissued an “equal weight” rating and set a $110.00 target price on shares of Starbucks in a research report on Wednesday, August 2nd. Wedbush decreased their target price on shares of Starbucks from $112.00 to $105.00 in a research report on Wednesday, August 2nd. Stifel Nicolaus decreased their target price on shares of Starbucks from $117.00 to $110.00 and set a “hold” rating for the company in a research report on Wednesday, August 2nd. Finally, Wells Fargo & Company decreased their target price on shares of Starbucks from $125.00 to $120.00 and set an “overweight” rating for the company in a research report on Wednesday, July 19th. Ten investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $114.18.

Insider Transactions at Starbucks

In other news, CFO Rachel Ruggeri sold 679 shares of the stock in a transaction dated Wednesday, June 21st. The shares were sold at an average price of $100.60, for a total transaction of $68,307.40. Following the sale, the chief financial officer now directly owns 54,761 shares of the company’s stock, valued at approximately $5,508,956.60. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 1.98% of the company’s stock.

Starbucks Company Profile

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.