Bradley Foster & Sargent Inc. CT Trims Stock Position in Starbucks Co. (NASDAQ:SBUX)

Bradley Foster & Sargent Inc. CT cut its stake in Starbucks Co. (NASDAQ:SBUX) by 19.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 168,178 shares of the coffee company’s stock after selling 40,559 shares during the period. Bradley Foster & Sargent Inc. CT’s holdings in Starbucks were worth $13,093,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Starbucks by 0.4% in the first quarter. Vanguard Group Inc. now owns 108,403,768 shares of the coffee company’s stock valued at $9,907,020,000 after purchasing an additional 470,498 shares during the period. Fisher Asset Management LLC boosted its holdings in Starbucks by 2.3% during the fourth quarter. Fisher Asset Management LLC now owns 11,359,790 shares of the coffee company’s stock worth $1,090,654,000 after buying an additional 260,489 shares in the last quarter. Flossbach Von Storch AG boosted its holdings in Starbucks by 106.7% during the first quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company’s stock worth $512,943,000 after buying an additional 2,897,282 shares in the last quarter. Franklin Resources Inc. boosted its holdings in Starbucks by 3.1% during the fourth quarter. Franklin Resources Inc. now owns 5,511,378 shares of the coffee company’s stock worth $529,147,000 after buying an additional 166,010 shares in the last quarter. Finally, Nordea Investment Management AB boosted its holdings in Starbucks by 5.2% during the first quarter. Nordea Investment Management AB now owns 5,412,603 shares of the coffee company’s stock worth $495,145,000 after buying an additional 266,570 shares in the last quarter. 72.29% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Jorgen Vig Knudstorp purchased 380 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were bought at an average price of $91.50 per share, with a total value of $34,770.00. Following the completion of the transaction, the director now directly owns 36,242 shares in the company, valued at approximately $3,316,143. The purchase was disclosed in a filing with the SEC, which is available through this link. In related news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $94.03, for a total transaction of $305,597.50. Following the transaction, the chief executive officer now owns 75,054 shares of the company’s stock, valued at $7,057,327.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jorgen Vig Knudstorp bought 380 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were bought at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the transaction, the director now directly owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. The disclosure for this purchase can be found here. Insiders own 1.98% of the company’s stock.

Analyst Ratings Changes

SBUX has been the topic of several recent research reports. Bank of America upped their price target on shares of Starbucks from $108.00 to $112.00 and gave the company a “buy” rating in a report on Monday, June 10th. Piper Sandler raised shares of Starbucks from a “neutral” rating to an “overweight” rating and upped their price target for the company from $85.00 to $103.00 in a report on Tuesday, August 13th. Deutsche Bank Aktiengesellschaft raised shares of Starbucks from a “hold” rating to a “buy” rating and upped their price objective for the company from $85.00 to $118.00 in a research note on Wednesday, August 14th. Stifel Nicolaus raised shares of Starbucks from a “hold” rating to a “buy” rating and upped their price target for the stock from $80.00 to $110.00 in a research report on Wednesday, August 14th. Finally, BMO Capital Markets raised 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. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $99.83.

Starbucks Stock Performance

Shares of SBUX opened at $96.44 on Wednesday. The firm has a market cap of $109.29 billion, a PE ratio of 26.57, a PEG ratio of 2.38 and a beta of 0.96. The firm’s 50 day moving average price is $85.30 and its 200 day moving average price is $83.89. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $107.66.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.93. The firm had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $9.25 billion. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The company’s revenue was down .6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.00 earnings per share. On average, sell-side analysts anticipate that Starbucks Co. will post 3.56 earnings per share for the current fiscal year.

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.