Stock Yards Bank & Trust Co. Trims Stake in Starbucks Co. (NASDAQ:SBUX)

Stock Yards Bank & Trust Co. cut its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 9.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 89,155 shares of the coffee company’s stock after selling 9,064 shares during the period. Stock Yards Bank & Trust Co.’s holdings in Starbucks were worth $6,941,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Ontario Teachers Pension Plan Board purchased a new position in shares of Starbucks during the 1st quarter valued at about $415,167,000. Diamond Hill Capital Management Inc. bought a new position in shares of Starbucks in the second quarter worth approximately $243,910,000. Flossbach Von Storch AG increased its stake in shares of Starbucks by 106.7% in the first quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company’s stock worth $512,943,000 after purchasing an additional 2,897,282 shares in the last quarter. Capital World Investors bought a new stake in shares of Starbucks during the 1st quarter valued at $257,721,000. Finally, Van ECK Associates Corp lifted its stake in shares of Starbucks by 108.1% during the 2nd quarter. Van ECK Associates Corp now owns 4,475,156 shares of the coffee company’s stock valued at $348,391,000 after buying an additional 2,324,847 shares in the last quarter. Institutional investors own 72.29% of the company’s stock.

Insider Transactions at Starbucks

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

Analyst Upgrades and Downgrades

SBUX has been the topic of a number of recent analyst reports. Evercore ISI raised Starbucks from an “in-line” rating to an “outperform” rating and raised their price target for the company from $80.00 to $120.00 in a report on Wednesday, August 14th. Deutsche Bank Aktiengesellschaft raised Starbucks from a “hold” rating to a “buy” rating and lifted their target price for the company from $85.00 to $118.00 in a research note on Wednesday, August 14th. Piper Sandler upgraded Starbucks from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $85.00 to $103.00 in a research note on Tuesday, August 13th. Stifel Nicolaus upgraded shares of Starbucks from a “hold” rating to a “buy” rating and lifted their price objective for the company from $80.00 to $110.00 in a research report on Wednesday, August 14th. Finally, Morgan Stanley restated an “overweight” rating and set a $98.00 target price on shares of Starbucks in a research report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $99.83.

Starbucks Trading Down 2.3 %

Shares of SBUX opened at $96.31 on Tuesday. The company’s fifty day simple moving average is $84.82 and its 200-day simple moving average is $83.87. The company has a market cap of $109.14 billion, a P/E ratio of 26.53, a P/E/G ratio of 2.38 and a beta of 0.96. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $107.66.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 earnings per share 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%. The firm’s revenue for the quarter was down .6% on a year-over-year basis. During the same period in the prior year, the company posted $1.00 EPS. Analysts predict that Starbucks Co. will post 3.56 earnings per share for the current fiscal 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.