Bath Savings Trust Co Has $8.51 Million Holdings in Starbucks Co. (NASDAQ:SBUX)

Bath Savings Trust Co cut its holdings in Starbucks Co. (NASDAQ:SBUX) by 1.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 85,927 shares of the coffee company’s stock after selling 1,549 shares during the period. Bath Savings Trust Co’s holdings in Starbucks were worth $8,512,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. America First Investment Advisors LLC acquired a new stake in Starbucks during the first quarter worth about $25,000. Cranbrook Wealth Management LLC acquired a new stake in Starbucks during the first quarter worth about $26,000. Freedom Wealth Alliance LLC acquired a new stake in Starbucks during the fourth quarter worth about $26,000. Delta Asset Management LLC TN acquired a new stake in Starbucks during the fourth quarter worth about $28,000. Finally, Princeton Global Asset Management LLC acquired a new stake in Starbucks during the first quarter worth about $29,000. 70.13% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Price Performance

Shares of NASDAQ:SBUX traded up $0.66 during mid-day trading on Monday, hitting $96.89. The company had a trading volume of 2,134,818 shares, compared to its average volume of 6,219,299. The firm has a fifty day moving average price of $99.19 and a 200 day moving average price of $101.43. The company has a market capitalization of $110.98 billion, a PE ratio of 29.34, a price-to-earnings-growth ratio of 1.71 and a beta of 0.93. Starbucks Co. has a one year low of $82.43 and a one year high of $115.48.

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, beating the consensus estimate of $0.95 by $0.05. The company had revenue of $9.17 billion during 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%. Starbucks’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.84 EPS. Research analysts expect that Starbucks Co. will post 3.45 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SBUX has been the topic of a number of research analyst reports. Stephens restated an “equal weight” rating and issued a $110.00 price target on shares of Starbucks in a research note on Wednesday, August 2nd. Barclays reduced their price target on shares of Starbucks from $127.00 to $123.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 2nd. Wells Fargo & Company reduced their price target on shares of Starbucks from $125.00 to $120.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 19th. StockNews.com initiated coverage on shares of Starbucks in a research note on Thursday, August 17th. They issued a “buy” rating on the stock. Finally, TD Cowen restated an “outperform” rating and issued a $117.00 price target on shares of Starbucks in a research note on Wednesday, August 2nd. Nine equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, Starbucks currently has an average rating of “Moderate Buy” and a consensus target price of $115.24.

Insider Activity at Starbucks

In related news, CFO Rachel Ruggeri sold 679 shares of Starbucks stock in a transaction on Wednesday, June 21st. The shares were sold at an average price of $100.60, for a total value of $68,307.40. Following the completion of the sale, the chief financial officer now owns 54,761 shares of the company’s stock, valued at approximately $5,508,956.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.98% of the stock is currently owned by insiders.

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.