Moody National Bank Trust Division Boosts Stock Position in Starbucks Co. (NASDAQ:SBUX)

Moody National Bank Trust Division lifted its position in Starbucks Co. (NASDAQ:SBUXFree Report) by 0.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 22,923 shares of the coffee company’s stock after purchasing an additional 209 shares during the quarter. Moody National Bank Trust Division’s holdings in Starbucks were worth $2,095,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Orca Investment Management LLC lifted its stake in Starbucks by 6.6% during the 4th quarter. Orca Investment Management LLC now owns 7,494 shares of the coffee company’s stock valued at $719,000 after acquiring an additional 466 shares during the period. Cerity Partners LLC lifted its position in Starbucks by 481.9% during the fourth quarter. Cerity Partners LLC now owns 1,547,411 shares of the coffee company’s stock valued at $148,567,000 after purchasing an additional 1,281,471 shares during the period. Summa Corp. purchased a new stake in Starbucks in the fourth quarter valued at $384,000. Brevan Howard Capital Management LP acquired a new stake in Starbucks during the 4th quarter worth about $2,781,000. Finally, FFT Wealth Management LLC acquired a new stake in Starbucks during the 4th quarter worth about $209,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Price Performance

Shares of Starbucks stock traded down $1.13 during trading on Wednesday, hitting $80.20. 9,664,456 shares of the stock were exchanged, compared to its average volume of 10,570,362. The stock has a market cap of $90.84 billion, a price-to-earnings ratio of 22.09, a price-to-earnings-growth ratio of 1.78 and a beta of 0.96. The firm’s 50-day moving average price is $80.73 and its 200 day moving average price is $88.95. Starbucks Co. has a 12-month low of $71.80 and a 12-month high of $107.66.

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

Insider Activity at Starbucks

In related news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction on Monday, April 15th. The shares were sold at an average price of $85.39, for a total value of $277,517.50. Following the transaction, the chief executive officer now directly owns 81,199 shares of the company’s stock, valued at approximately $6,933,582.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Rachel Ruggeri sold 3,750 shares of the stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $80.00, for a total transaction of $300,000.00. Following the completion of the sale, the chief financial officer now owns 65,431 shares in the company, valued at approximately $5,234,480. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 directly owns 81,199 shares of the company’s stock, valued at $6,933,582.61. The disclosure for this sale can be found here. Insiders sold 11,000 shares of company stock valued at $902,050 over the last three months. 1.98% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on SBUX. Deutsche Bank Aktiengesellschaft downgraded Starbucks from a “buy” rating to a “hold” rating and lowered their target price for the stock from $108.00 to $89.00 in a research note on Wednesday, May 1st. Stifel Nicolaus lowered their price objective on Starbucks from $90.00 to $80.00 and set a “hold” rating on the stock in a research report on Wednesday, May 1st. TD Cowen reaffirmed a “hold” rating and set a $85.00 target price on shares of Starbucks in a report on Thursday, June 13th. UBS Group lowered their price target on shares of Starbucks from $95.00 to $85.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. Finally, Evercore ISI cut their price objective on shares of Starbucks from $120.00 to $92.00 and set an “outperform” rating for the company in a report on Wednesday, May 1st. Seventeen research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $95.00.

View Our Latest Stock Report on SBUX

About Starbucks

(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.

See Also

Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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