Emprise Bank Purchases Shares of 8,930 Starbucks Co. (NASDAQ:SBUX)

Emprise Bank acquired a new position in Starbucks Co. (NASDAQ:SBUX) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 8,930 shares of the coffee company’s stock, valued at approximately $816,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. jvl associates llc bought a new position in shares of Starbucks in the first quarter worth about $299,000. Bath Savings Trust Co boosted its position in shares of Starbucks by 4.7% in the first quarter. Bath Savings Trust Co now owns 89,737 shares of the coffee company’s stock worth $8,201,000 after purchasing an additional 4,007 shares during the period. Tompkins Financial Corp increased its stake in shares of Starbucks by 5.4% in the first quarter. Tompkins Financial Corp now owns 36,311 shares of the coffee company’s stock worth $3,318,000 after purchasing an additional 1,874 shares in the last quarter. Atlas Brown Inc. bought a new stake in shares of Starbucks during the 1st quarter valued at $323,000. Finally, Chickasaw Capital Management LLC lifted its stake in shares of Starbucks by 2.2% during the 1st quarter. Chickasaw Capital Management LLC now owns 18,350 shares of the coffee company’s stock valued at $1,677,000 after buying an additional 400 shares in the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Analyst Ratings Changes

SBUX has been the subject of a number of research analyst reports. UBS Group cut their price objective on Starbucks from $95.00 to $85.00 and set a “neutral” rating for the company in a research report on Wednesday, May 1st. Morgan Stanley cut 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. Oppenheimer reiterated a “market perform” rating on shares of Starbucks in a research report on Friday, April 19th. Evercore ISI dropped their price objective on shares of Starbucks from $120.00 to $92.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 1st. Finally, HSBC decreased their target price on shares of Starbucks from $107.00 to $84.00 and set a “hold” rating for the company in a research note on Friday, May 3rd. Seventeen research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, Starbucks currently has an average rating of “Hold” and a consensus price target of $95.00.

Insider Buying and Selling at Starbucks

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

Starbucks Stock Performance

Shares of NASDAQ SBUX traded down $1.13 during midday trading on Wednesday, reaching $80.20. 9,664,456 shares of the stock were exchanged, compared to its average volume of 10,570,362. Starbucks Co. has a twelve month low of $71.80 and a twelve month high of $107.66. The stock has a market capitalization of $90.84 billion, a P/E ratio of 22.09, a PEG ratio of 1.78 and a beta of 0.96. The company has a 50 day simple moving average of $80.61 and a 200 day simple moving average of $88.89.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Tuesday, April 30th. The coffee company reported $0.68 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 company had revenue of $8.56 billion during the quarter, compared to analyst estimates of $9.12 billion. During the same quarter in the prior year, the company posted $0.74 earnings per share. The business’s revenue was down 1.8% compared to the same quarter last year. On average, research analysts expect that Starbucks Co. will post 3.59 earnings per share for the current year.

Starbucks 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.