Sanibel Captiva Trust Company Inc. Cuts Holdings in Starbucks Co. (NASDAQ:SBUX)

Sanibel Captiva Trust Company Inc. trimmed its position in Starbucks Co. (NASDAQ:SBUX - Free Report) by 11.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 281,752 shares of the coffee company's stock after selling 37,390 shares during the quarter. Sanibel Captiva Trust Company Inc.'s holdings in Starbucks were worth $27,468,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Strategic Investment Solutions Inc. IL bought a new position in Starbucks in the 2nd quarter valued at about $25,000. Vima LLC bought a new position in Starbucks in the 4th quarter valued at about $26,000. Scarborough Advisors LLC bought a new position in Starbucks in the 4th quarter valued at about $26,000. New Millennium Group LLC bought a new position in Starbucks in the 2nd quarter valued at about $26,000. Finally, Stephens Consulting LLC raised its holdings in Starbucks by 498.2% in the 2nd quarter. Stephens Consulting LLC now owns 335 shares of the coffee company's stock valued at $26,000 after acquiring an additional 279 shares during the period. 72.29% of the stock is owned by institutional investors.

Insider Transactions at Starbucks

In related news, CEO Rachel Ruggeri sold 3,290 shares of Starbucks stock in a transaction on 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 owns 62,502 shares of the company's stock, valued at $5,697,682.32. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Jorgen Vig Knudstorp purchased 380 shares of the firm's stock in a transaction on Friday, September 6th. The stock was purchased at an average cost of $91.50 per share, with a total value of $34,770.00. Following the completion of the purchase, the director now owns 36,242 shares in the company, valued at approximately $3,316,143. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Rachel Ruggeri sold 3,290 shares of Starbucks stock in a transaction on 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 sale, the chief executive officer now directly owns 62,502 shares of the company's stock, valued at approximately $5,697,682.32. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.98% of the stock is owned by company insiders.

Starbucks Trading Down 2.1 %

Starbucks stock traded down $2.00 during mid-day trading on Thursday, reaching $93.88. The company had a trading volume of 5,458,421 shares, compared to its average volume of 11,577,825. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $107.66. The company has a market cap of $106.34 billion, a P/E ratio of 25.86, a P/E/G ratio of 2.12 and a beta of 0.97. The business has a fifty day simple moving average of $92.09 and a 200 day simple moving average of $84.48.

Starbucks (NASDAQ:SBUX - Get Free Report) last issued its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, hitting analysts' consensus estimates of $0.93. The company had revenue of $9.11 billion for the quarter, compared to analyst estimates of $9.25 billion. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. Starbucks's revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.00 earnings per share. Research analysts forecast that Starbucks Co. will post 3.55 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. BMO Capital Markets increased their price target on shares of Starbucks from $100.00 to $110.00 and gave the company an "outperform" rating in a report on Monday, September 9th. TD Cowen reaffirmed a "buy" rating and set a $110.00 target price on shares of Starbucks in a report on Thursday, September 12th. Robert W. Baird raised shares of Starbucks from a "neutral" rating to an "outperform" rating and raised their target price for the stock from $81.00 to $110.00 in a report on Tuesday, August 13th. JPMorgan Chase & Co. raised their target price on shares of Starbucks from $90.00 to $105.00 and gave the stock an "overweight" rating in a report on Monday, September 30th. Finally, Barclays raised their target price on shares of Starbucks from $93.00 to $110.00 and gave the stock an "overweight" rating in a report on Wednesday, August 14th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $101.16.

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.