Iowa State Bank decreased its position in Starbucks Co. (NASDAQ:SBUX) by 2.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 29,410 shares of the coffee company’s stock after selling 802 shares during the period. Iowa State Bank’s holdings in Starbucks were worth $2,186,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of SBUX. Orrstown Financial Services Inc. lifted its stake in Starbucks by 1.2% in the first quarter. Orrstown Financial Services Inc. now owns 12,844 shares of the coffee company’s stock valued at $955,000 after buying an additional 147 shares during the period. Gardiner Nancy B raised its position in shares of Starbucks by 2.8% during the fourth quarter. Gardiner Nancy B now owns 5,700 shares of the coffee company’s stock worth $367,000 after purchasing an additional 156 shares during the period. Kistler Tiffany Companies LLC raised its position in shares of Starbucks by 1.8% during the fourth quarter. Kistler Tiffany Companies LLC now owns 9,319 shares of the coffee company’s stock worth $600,000 after purchasing an additional 162 shares during the period. Old North State Trust LLC raised its position in shares of Starbucks by 26.7% during the fourth quarter. Old North State Trust LLC now owns 822 shares of the coffee company’s stock worth $52,000 after purchasing an additional 173 shares during the period. Finally, Tiemann Investment Advisors LLC raised its position in shares of Starbucks by 3.5% during the fourth quarter. Tiemann Investment Advisors LLC now owns 5,160 shares of the coffee company’s stock worth $332,000 after purchasing an additional 175 shares during the period. Institutional investors and hedge funds own 73.34% of the company’s stock.
Shares of Starbucks stock opened at $75.12 on Thursday. Starbucks Co. has a 52-week low of $47.37 and a 52-week high of $76.95. The company has a market capitalization of $93.72 billion, a P/E ratio of 31.04, a PEG ratio of 2.18 and a beta of 0.51. The company has a current ratio of 1.41, a quick ratio of 1.16 and a debt-to-equity ratio of 7.73.
A number of equities research analysts have recently commented on SBUX shares. BidaskClub lowered Starbucks from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 4th. Zacks Investment Research raised Starbucks from a “hold” rating to a “buy” rating and set a $73.00 price target on the stock in a research report on Monday, January 28th. Bank of America set a $75.00 price target on Starbucks and gave the stock a “buy” rating in a research report on Friday, January 25th. Mizuho set a $75.00 price target on Starbucks and gave the stock a “buy” rating in a research report on Thursday, April 11th. Finally, BMO Capital Markets dropped their price target on Starbucks to $60.00 and set a “market perform” rating on the stock in a research report on Friday, January 11th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and fifteen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $68.00.
In other Starbucks news, EVP Vivek C. Varma sold 70,364 shares of the firm’s stock in a transaction that occurred on Wednesday, February 13th. The stock was sold at an average price of $70.05, for a total value of $4,928,998.20. Following the completion of the transaction, the executive vice president now directly owns 138,004 shares in the company, valued at $9,667,180.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Clifford Burrows sold 152,634 shares of the firm’s stock in a transaction that occurred on Tuesday, January 29th. The shares were sold at an average price of $67.22, for a total value of $10,260,057.48. Following the completion of the transaction, the insider now owns 311,083 shares of the company’s stock, valued at $20,910,999.26. The disclosure for this sale can be found here. In the last three months, insiders sold 565,806 shares of company stock worth $38,789,988. 3.98% of the stock is owned by insiders.
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Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in four segments: Americas; China/Asia Pacific; Europe, Middle East, and Africa; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, iced tea, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.
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