Starbucks Co. (NASDAQ:SBUX) Shares Sold by Maple Capital Management Inc.

Maple Capital Management Inc. decreased its position in Starbucks Co. (NASDAQ:SBUX) by 14.8% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 7,265 shares of the coffee company’s stock after selling 1,263 shares during the period. Maple Capital Management Inc.’s holdings in Starbucks were worth $708,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Ontario Teachers Pension Plan Board acquired a new stake in shares of Starbucks during the first quarter worth $415,167,000. Marshall Wace LLP raised its position in shares of Starbucks by 1,466.3% during the second quarter. Marshall Wace LLP now owns 3,350,932 shares of the coffee company’s stock worth $260,870,000 after purchasing an additional 3,136,992 shares during the period. Diamond Hill Capital Management Inc. acquired a new stake in shares of Starbucks during the second quarter worth $243,910,000. Flossbach Von Storch AG raised its position in shares of 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 purchasing an additional 2,897,282 shares during the period. Finally, Capital World Investors acquired a new stake in shares of Starbucks during the first quarter worth $257,721,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Insider Transactions at Starbucks

In other news, CEO Rachel Ruggeri sold 3,290 shares of the company’s stock in a transaction dated Tuesday, August 13th. The stock was 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 owns 62,502 shares in the company, valued at approximately $5,697,682.32. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Rachel Ruggeri sold 3,290 shares of the stock in a transaction that occurred on Tuesday, August 13th. The stock was 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 owns 62,502 shares in the company, valued at $5,697,682.32. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jorgen Vig Knudstorp bought 380 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were acquired at an average price of $91.50 per share, with a total value of $34,770.00. Following the purchase, the director now owns 36,242 shares in the company, valued at $3,316,143. This trade 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 corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on SBUX shares. DZ Bank lowered Starbucks from a “hold” rating to a “sell” rating and set a $85.00 target price on the stock. in a research report on Wednesday, August 21st. Citigroup boosted their target price on Starbucks from $98.00 to $99.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 8th. Jefferies Financial Group lowered Starbucks from a “hold” rating to an “underperform” rating and cut their target price for the stock from $80.00 to $76.00 in a research report on Tuesday, September 24th. Barclays upped their price target on Starbucks from $93.00 to $110.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. Finally, Morgan Stanley upped their price target on Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Starbucks currently has a consensus rating of “Moderate Buy” and a consensus price target of $102.44.

Starbucks Stock Performance

SBUX opened at $95.88 on Tuesday. The company has a market cap of $108.60 billion, a PE ratio of 26.57, a price-to-earnings-growth ratio of 2.14 and a beta of 0.97. The stock has a 50-day moving average of $95.29 and a 200-day moving average of $84.73. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $107.66.

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 company had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $9.25 billion. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The firm’s revenue was down .6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.00 EPS. On average, research analysts predict that Starbucks Co. will post 3.55 earnings per share for the current 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.