Tompkins Financial Corp Trims Holdings in Starbucks Co. (NASDAQ:SBUX)

Tompkins Financial Corp cut its holdings in Starbucks Co. (NASDAQ:SBUX) by 1.5% during the second quarter, Holdings Channel reports. The institutional investor owned 32,425 shares of the coffee company’s stock after selling 510 shares during the quarter. Tompkins Financial Corp’s holdings in Starbucks were worth $3,212,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SBUX. Advisory Alpha LLC lifted its stake in shares of Starbucks by 4.5% in the 1st quarter. Advisory Alpha LLC now owns 2,152 shares of the coffee company’s stock worth $224,000 after purchasing an additional 92 shares during the period. Western Pacific Wealth Management LP increased its holdings in Starbucks by 4.2% in the 1st quarter. Western Pacific Wealth Management LP now owns 2,379 shares of the coffee company’s stock worth $248,000 after acquiring an additional 95 shares in the last quarter. FLC Capital Advisors increased its holdings in Starbucks by 1.2% in the 1st quarter. FLC Capital Advisors now owns 8,310 shares of the coffee company’s stock worth $865,000 after acquiring an additional 99 shares in the last quarter. Investment Advisory Services Inc. TX ADV increased its holdings in Starbucks by 0.7% in the 4th quarter. Investment Advisory Services Inc. TX ADV now owns 14,194 shares of the coffee company’s stock worth $1,408,000 after acquiring an additional 100 shares in the last quarter. Finally, Piscataqua Savings Bank increased its holdings in Starbucks by 11.3% in the 1st quarter. Piscataqua Savings Bank now owns 985 shares of the coffee company’s stock worth $103,000 after acquiring an additional 100 shares in the last quarter. 70.13% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

SBUX has been the subject of several analyst reports. StockNews.com initiated coverage on shares of Starbucks in a report on Thursday, August 17th. They issued a “buy” rating for the company. Wells Fargo & Company reduced their target price on shares of Starbucks from $125.00 to $120.00 and set an “overweight” rating for the company in a report on Wednesday, July 19th. Citigroup reduced their target price on shares of Starbucks from $117.00 to $112.00 and set a “neutral” rating for the company in a report on Monday, July 24th. Bank of America increased their target price on shares of Starbucks from $131.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, July 21st. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $104.00 price objective on shares of Starbucks in a report on Wednesday, August 2nd. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, Starbucks has an average rating of “Moderate Buy” and an average price target of $114.76.

Starbucks Stock Down 2.4 %

SBUX traded down $2.33 during trading on Tuesday, reaching $94.43. The company had a trading volume of 1,760,163 shares, compared to its average volume of 6,206,660. The stock has a market cap of $108.16 billion, a P/E ratio of 29.50, a PEG ratio of 1.69 and a beta of 0.93. The business has a 50 day simple moving average of $99.19 and a 200-day simple moving average of $101.43. Starbucks Co. has a 52 week low of $82.43 and a 52 week high of $115.48.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, August 1st. The coffee company reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.05. The company had revenue of $9.17 billion during the quarter, compared to the consensus estimate of $9.29 billion. Starbucks had a negative return on equity of 44.46% and a net margin of 10.81%. Starbucks’s revenue was up 12.5% on a year-over-year basis. During the same period last year, the company earned $0.84 earnings per share. As a group, equities research analysts expect that Starbucks Co. will post 3.45 EPS for the current fiscal year.

About Starbucks

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.