Cape ANN Savings Bank Has $1.37 Million Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Cape ANN Savings Bank increased its position in shares of Starbucks Co. (NASDAQ:SBUXFree Report) by 3.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,699 shares of the coffee company’s stock after purchasing an additional 438 shares during the quarter. Cape ANN Savings Bank’s holdings in Starbucks were worth $1,367,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Vima LLC acquired a new stake in Starbucks in the 4th quarter valued at about $26,000. Scarborough Advisors LLC acquired a new stake in Starbucks in the 4th quarter valued at about $26,000. DSM Capital Partners LLC acquired a new stake in Starbucks in the 4th quarter valued at about $27,000. Riggs Asset Managment Co. Inc. increased its position in Starbucks by 1,578.9% in the 3rd quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock valued at $29,000 after acquiring an additional 300 shares in the last quarter. Finally, Cypress Capital Management LLC WY increased its position in Starbucks by 133.1% in the 4th quarter. Cypress Capital Management LLC WY now owns 324 shares of the coffee company’s stock valued at $31,000 after acquiring an additional 185 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Price Performance

SBUX stock traded up $1.68 during midday trading on Monday, reaching $81.33. 9,843,611 shares of the company were exchanged, compared to its average volume of 10,278,079. The business has a 50-day moving average price of $80.87 and a two-hundred day moving average price of $89.09. Starbucks Co. has a one year low of $71.80 and a one year high of $107.66. The firm has a market capitalization of $92.12 billion, a price-to-earnings ratio of 22.41, a price-to-earnings-growth ratio of 1.74 and a beta of 0.97.

Starbucks (NASDAQ:SBUXGet Free Report) last released its quarterly earnings data on Tuesday, April 30th. The coffee company reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). The company had revenue of $8.56 billion for the quarter, compared to the consensus estimate of $9.12 billion. Starbucks had a negative return on equity of 49.91% and a net margin of 11.38%. The company’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same period last year, the firm earned $0.74 earnings per share. As a group, analysts anticipate that Starbucks Co. will post 3.59 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on SBUX shares. BTIG Research reduced their target price on shares of Starbucks from $115.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. UBS Group reduced their target price on shares of Starbucks from $95.00 to $85.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft lowered shares of Starbucks from a “buy” rating to a “hold” rating and reduced their target price for the company from $108.00 to $89.00 in a research note on Wednesday, May 1st. Piper Sandler reduced their price objective on shares of Starbucks from $88.00 to $85.00 and set a “neutral” rating on the stock in a research note on Monday, May 6th. Finally, Morgan Stanley reduced their price objective on shares of Starbucks from $120.00 to $115.00 and set an “overweight” rating on the stock in a research note on Friday, April 12th. Seventeen equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $95.00.

Check Out Our Latest Research Report on Starbucks

Insider Activity

In other news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $85.39, for a total value of $277,517.50. Following the completion of the sale, the chief executive officer now owns 81,199 shares of the company’s stock, valued at $6,933,582.61. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $85.39, for a total transaction of $277,517.50. Following the completion of the sale, the chief executive officer now owns 81,199 shares of the company’s stock, valued at $6,933,582.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Rachel Ruggeri sold 3,750 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $80.00, for a total transaction of $300,000.00. Following the sale, the chief financial officer now directly owns 65,431 shares of the company’s stock, valued at approximately $5,234,480. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,750 shares of company stock valued at $642,050. 1.98% of the stock is owned by company insiders.

Starbucks Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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