UMB Bank n.a. Sells 9,126 Shares of Starbucks Co. (NASDAQ:SBUX)

UMB Bank n.a. lowered its stake in Starbucks Co. (NASDAQ:SBUX) by 12.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 63,911 shares of the coffee company’s stock after selling 9,126 shares during the quarter. UMB Bank n.a.’s holdings in Starbucks were worth $6,231,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in SBUX. Bragg Financial Advisors Inc raised its holdings in Starbucks by 2.1% in the 4th quarter. Bragg Financial Advisors Inc now owns 69,226 shares of the coffee company’s stock valued at $6,646,000 after buying an additional 1,409 shares during the last quarter. Baird Financial Group Inc. raised its holdings in Starbucks by 5.2% in the 4th quarter. Baird Financial Group Inc. now owns 1,568,768 shares of the coffee company’s stock valued at $150,617,000 after buying an additional 78,112 shares during the last quarter. Georgetown University raised its holdings in Starbucks by 0.5% in the 4th quarter. Georgetown University now owns 50,511 shares of the coffee company’s stock valued at $4,850,000 after buying an additional 276 shares during the last quarter. Financial Network Wealth Advisors LLC bought a new position in Starbucks in the 4th quarter valued at approximately $412,000. Finally, Palogic Value Management L.P. raised its holdings in Starbucks by 13.0% in the 4th quarter. Palogic Value Management L.P. now owns 6,760 shares of the coffee company’s stock valued at $649,000 after buying an additional 779 shares during the last quarter. Institutional investors own 72.29% of the company’s stock.

Insider Transactions at Starbucks

In other Starbucks news, Director Jorgen Vig Knudstorp bought 380 shares of the stock in a transaction dated 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 purchase, the director now directly owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Jorgen Vig Knudstorp acquired 380 shares of the firm’s stock in a transaction that occurred on 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 acquisition, the director now owns 36,242 shares in the company, valued at $3,316,143. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $94.03, for a total value of $305,597.50. Following the completion of the sale, the chief executive officer now directly owns 75,054 shares of the company’s stock, valued at approximately $7,057,327.62. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on SBUX shares. Morgan Stanley reissued an “overweight” rating and set a $98.00 target price on shares of Starbucks in a research report on Wednesday, July 31st. Barclays raised their price objective on shares of Starbucks from $93.00 to $110.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. The Goldman Sachs Group started coverage on shares of Starbucks in a research report on Thursday, June 13th. They set a “buy” rating and a $100.00 price objective for the company. Evercore ISI raised shares of Starbucks from an “in-line” rating to an “outperform” rating and raised their price objective for the stock from $80.00 to $120.00 in a research report on Wednesday, August 14th. Finally, TD Cowen reaffirmed a “buy” rating and set a $110.00 price objective on shares of Starbucks in a research report on Thursday, September 12th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $101.16.

Starbucks Price Performance

NASDAQ SBUX opened at $93.88 on Friday. The stock has a market capitalization of $106.38 billion, a price-to-earnings ratio of 26.30, a PEG ratio of 2.11 and a beta of 0.97. Starbucks Co. has a one year low of $71.55 and a one year high of $107.66. The business’s fifty day moving average is $92.09 and its 200-day moving average is $84.48.

Starbucks (NASDAQ:SBUX) last released its earnings results on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, hitting analysts’ consensus estimates of $0.93. The company had revenue of $9.11 billion for the quarter, compared to analysts’ expectations of $9.25 billion. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The business’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.00 EPS. Research analysts expect that Starbucks Co. will post 3.55 EPS for the current fiscal year.

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.