Fruth Investment Management Lowers Position in Starbucks Co. (NASDAQ:SBUX)

Fruth Investment Management trimmed its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 0.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 79,099 shares of the coffee company’s stock after selling 400 shares during the quarter. Starbucks comprises about 2.0% of Fruth Investment Management’s investment portfolio, making the stock its 9th largest holding. Fruth Investment Management’s holdings in Starbucks were worth $7,711,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Centaurus Financial Inc. increased its holdings in Starbucks by 2.9% in the 4th quarter. Centaurus Financial Inc. now owns 7,629 shares of the coffee company’s stock valued at $732,000 after buying an additional 216 shares during the period. Scarborough Advisors LLC bought a new position in Starbucks in the 4th quarter valued at about $26,000. Leo Wealth LLC bought a new position in Starbucks in the 4th quarter valued at about $238,000. Fairman Group LLC bought a new position in Starbucks in the 4th quarter valued at about $30,000. Finally, Kapitalo Investimentos Ltda increased its holdings in Starbucks by 51.1% in the 4th quarter. Kapitalo Investimentos Ltda now owns 615 shares of the coffee company’s stock valued at $59,000 after buying an additional 208 shares during the period. 72.29% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on SBUX. Barclays raised their target price on shares of Starbucks from $93.00 to $110.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. Wedbush restated a “neutral” rating and issued a $80.00 price target on shares of Starbucks in a research note on Tuesday, August 13th. Morgan Stanley restated an “overweight” rating and issued a $98.00 price target on shares of Starbucks in a research note on Wednesday, July 31st. Robert W. Baird upgraded shares of Starbucks from a “neutral” rating to an “outperform” rating and raised their price target for the company from $81.00 to $110.00 in a research note on Tuesday, August 13th. Finally, JPMorgan Chase & Co. raised their price target on shares of Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $101.16.

Starbucks Stock Performance

Starbucks stock opened at $94.76 on Tuesday. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $107.66. The firm has a 50 day moving average price of $93.28 and a two-hundred day moving average price of $84.52. The firm has a market cap of $107.33 billion, a price-to-earnings ratio of 26.10, a PEG ratio of 2.06 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.93. The firm had revenue of $9.11 billion during 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 company’s revenue was down .6% compared to the same quarter last year. During the same quarter last year, the business earned $1.00 EPS. As a group, equities research analysts predict that Starbucks Co. will post 3.55 EPS for the current fiscal year.

Insider Activity

In other news, CEO Rachel Ruggeri sold 3,290 shares of Starbucks 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. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO Rachel Ruggeri sold 3,290 shares of Starbucks 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. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jorgen Vig Knudstorp acquired 380 shares of the stock in a transaction dated Friday, September 6th. The stock was bought at an average price of $91.50 per share, with a total value of $34,770.00. Following the purchase, the director now directly owns 36,242 shares in the company, valued at $3,316,143. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.98% of the stock is currently owned by company insiders.

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.