Webster Bank N. A. Sells 127 Shares of Starbucks Co. (NASDAQ:SBUX)

Webster Bank N. A. lessened its holdings in Starbucks Co. (NASDAQ:SBUX) by 14.5% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 750 shares of the coffee company’s stock after selling 127 shares during the period. Webster Bank N. A.’s holdings in Starbucks were worth $73,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Versant Capital Management Inc increased its stake in Starbucks by 7.9% in the first quarter. Versant Capital Management Inc now owns 1,659 shares of the coffee company’s stock valued at $152,000 after acquiring an additional 122 shares during the last quarter. Astoria Portfolio Advisors LLC. increased its stake in Starbucks by 2.0% in the first quarter. Astoria Portfolio Advisors LLC. now owns 6,393 shares of the coffee company’s stock valued at $544,000 after acquiring an additional 127 shares during the last quarter. M&R Capital Management Inc. increased its stake in Starbucks by 30.9% in the second quarter. M&R Capital Management Inc. now owns 567 shares of the coffee company’s stock valued at $44,000 after acquiring an additional 134 shares during the last quarter. Fragasso Financial Advisors Inc increased its stake in Starbucks by 1.1% in the second quarter. Fragasso Financial Advisors Inc now owns 12,837 shares of the coffee company’s stock valued at $999,000 after acquiring an additional 135 shares during the last quarter. Finally, Pinnacle West Asset Management Inc. increased its stake in Starbucks by 1.8% in the second quarter. Pinnacle West Asset Management Inc. now owns 7,495 shares of the coffee company’s stock valued at $583,000 after acquiring an additional 135 shares during the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Price Performance

Shares of SBUX stock opened at $95.55 on Monday. The firm’s 50-day moving average is $92.86 and its two-hundred day moving average is $84.49. The company has a market capitalization of $108.23 billion, a PE ratio of 26.32, a price-to-earnings-growth ratio of 2.06 and a beta of 0.97. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $107.66.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.93. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The firm had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $9.25 billion. During the same quarter in the previous year, the business posted $1.00 earnings per share. The business’s quarterly revenue was down .6% compared to the same quarter last year. Sell-side analysts forecast that Starbucks Co. will post 3.55 EPS for the current year.

Wall Street Analyst Weigh In

SBUX has been the topic of a number of recent research reports. Baird R W raised Starbucks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 13th. Stifel Nicolaus raised Starbucks from a “hold” rating to a “buy” rating and raised their price objective for the company from $80.00 to $110.00 in a research note on Wednesday, August 14th. DZ Bank cut Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price objective on the stock. in a research note on Wednesday, August 21st. Bank of America raised their target price on Starbucks from $112.00 to $118.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Finally, Oppenheimer reissued a “market perform” rating on shares of Starbucks in a research note on Monday, August 26th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $101.16.

Insider Activity

In related news, CEO Rachel Ruggeri sold 3,290 shares of the company’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total value of $299,916.40. Following the completion of the sale, the chief executive officer now owns 62,502 shares in the company, valued at $5,697,682.32. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Rachel Ruggeri sold 3,290 shares of the company’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total value of $299,916.40. Following the completion of the sale, the chief executive officer now owns 62,502 shares in the company, valued at $5,697,682.32. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jorgen Vig Knudstorp bought 380 shares of the stock in a transaction dated Friday, September 6th. The stock was purchased at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the acquisition, the director now owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.98% of the company’s stock.

About Starbucks

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.