Trust Co. of Toledo NA OH Decreases Position in Starbucks Co. (NASDAQ:SBUX)

Trust Co. of Toledo NA OH reduced its stake in Starbucks Co. (NASDAQ:SBUX) by 2.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,734 shares of the coffee company’s stock after selling 485 shares during the quarter. Trust Co. of Toledo NA OH’s holdings in Starbucks were worth $2,119,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Davis Capital Management lifted its position in shares of Starbucks by 5.7% in the third quarter. Davis Capital Management now owns 11,920 shares of the coffee company’s stock valued at $1,162,000 after acquiring an additional 642 shares in the last quarter. Jacobs & Co. CA lifted its position in shares of Starbucks by 4.8% in the third quarter. Jacobs & Co. CA now owns 169,132 shares of the coffee company’s stock valued at $16,488,000 after acquiring an additional 7,814 shares in the last quarter. Mattson Financial Services LLC purchased a new stake in shares of Starbucks in the second quarter valued at $2,317,000. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Starbucks by 19.0% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 215,988 shares of the coffee company’s stock valued at $16,815,000 after acquiring an additional 34,498 shares in the last quarter. Finally, Verity & Verity LLC lifted its position in Starbucks by 4.5% during the second quarter. Verity & Verity LLC now owns 131,308 shares of the coffee company’s stock worth $10,222,000 after buying an additional 5,658 shares during the period. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on SBUX shares. DZ Bank downgraded Starbucks from a “hold” rating to a “sell” rating and set a $85.00 target price on the stock. in a research report on Wednesday, August 21st. The Goldman Sachs Group started coverage on Starbucks in a research report on Thursday, June 13th. They set a “buy” rating and a $100.00 target price on the stock. Morgan Stanley reiterated an “overweight” rating and set a $98.00 target price on shares of Starbucks in a research report on Wednesday, July 31st. JPMorgan Chase & Co. increased their target price on Starbucks from $90.00 to $105.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, TD Cowen reiterated a “buy” rating and set a $110.00 target price on shares of Starbucks in a research report on Thursday, September 12th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $101.12.

Starbucks Stock Down 1.0 %

Shares of NASDAQ SBUX opened at $96.50 on Thursday. The stock has a market capitalization of $109.31 billion, a P/E ratio of 26.58, a PEG ratio of 2.33 and a beta of 0.97. The stock’s 50 day moving average price is $90.02 and its two-hundred day moving average price is $84.32. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $107.66.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, hitting analysts’ consensus estimates of $0.93. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The firm had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $9.25 billion. During the same quarter in the previous year, the company posted $1.00 earnings per share. The firm’s revenue was down .6% on a year-over-year basis. On average, analysts anticipate that Starbucks Co. will post 3.56 EPS for the current year.

Insider Buying and Selling

In related news, CEO Rachel Ruggeri sold 3,290 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total transaction of $299,916.40. Following the completion of the transaction, the chief executive officer now owns 62,502 shares in the company, valued at approximately $5,697,682.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total transaction of $299,916.40. Following the completion of the transaction, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $94.03, for a total transaction of $305,597.50. Following the completion of the sale, the chief executive officer now owns 75,054 shares in the company, valued at approximately $7,057,327.62. The disclosure for this sale can be found here. 1.98% of the stock is owned by company insiders.

Starbucks Company Profile

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