Trading Report: The Glenview State Bank Trust DEPT. decreases its position in Starbucks Corp. (SBUX)

The Glenview State Bank Trust DEPT. decreases its position in Starbucks Corp. (SBUX)

Glenview State Bank Trust DEPT. cut its position in shares of Starbucks Corp. (NASDAQ:SBUX) by 0.9% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 67,590 shares of the coffee company’s stock after selling 600 shares during the period. Starbucks Corp. comprises about 2.2% of Glenview State Bank Trust DEPT.’s portfolio, making the stock its 18th largest position. Glenview State Bank Trust DEPT.’s holdings in Starbucks Corp. were worth $3,861,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of SBUX. Whittier Trust Co. raised its stake in shares of Starbucks Corp. by 2.5% in the second quarter. Whittier Trust Co. now owns 303,999 shares of the coffee company’s stock worth $17,361,000 after buying an additional 7,478 shares during the period. Adams Diversified Equity Fund Inc. purchased a new stake in shares of Starbucks Corp. during the second quarter worth approximately $14,354,000. Hermes Investment Management Ltd. raised its stake in shares of Starbucks Corp. by 19.2% in the second quarter. Hermes Investment Management Ltd. now owns 191,294 shares of the coffee company’s stock worth $10,927,000 after buying an additional 30,800 shares during the period. First Republic Investment Management Inc. raised its stake in shares of Starbucks Corp. by 4.9% in the first quarter. First Republic Investment Management Inc. now owns 1,438,991 shares of the coffee company’s stock worth $85,907,000 after buying an additional 66,883 shares during the period. Finally, Ledyard National Bank raised its stake in shares of Starbucks Corp. by 5.7% in the second quarter. Ledyard National Bank now owns 124,528 shares of the coffee company’s stock worth $7,113,000 after buying an additional 6,720 shares during the period. 68.39% of the stock is owned by hedge funds and other institutional investors.

Starbucks Corp. (NASDAQ:SBUX) traded down 0.60% during trading on Monday, hitting $52.76. The stock had a trading volume of 5,222,510 shares. Starbucks Corp. has a 1-year low of $52.63 and a 1-year high of $64.00. The firm has a market capitalization of $77.38 billion, a PE ratio of 29.64 and a beta of 0.83. The firm has a 50 day moving average price of $54.38 and a 200-day moving average price of $56.24.

Starbucks Corp. (NASDAQ:SBUX) last released its quarterly earnings results on Thursday, July 21st. The coffee company reported $0.49 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.49. The business earned $5.20 billion during the quarter, compared to the consensus estimate of $5.34 billion. Starbucks Corp. had a return on equity of 46.89% and a net margin of 13.01%. On average, equities research analysts expect that Starbucks Corp. will post $1.89 EPS for the current year.

A number of brokerages have recently commented on SBUX. Vetr upgraded Starbucks Corp. from a “buy” rating to a “strong-buy” rating and set a $61.76 price target on the stock in a report on Monday, August 22nd. BTIG Research set a $64.00 price target on Starbucks Corp. and gave the company a “buy” rating in a report on Monday, September 12th. Morgan Stanley restated an “overweight” rating on shares of Starbucks Corp. in a report on Wednesday, June 29th. Piper Jaffray Cos. set a $72.00 price target on Starbucks Corp. and gave the company a “buy” rating in a report on Tuesday, September 20th. Finally, Nomura restated a “buy” rating and issued a $70.00 price target on shares of Starbucks Corp. in a report on Monday, July 25th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the stock. Starbucks Corp. presently has an average rating of “Buy” and a consensus target price of $66.39.

In other Starbucks Corp. news, Director Myron E. Ullman III sold 12,654 shares of Starbucks Corp. stock in a transaction dated Tuesday, July 26th. The stock was sold at an average price of $58.70, for a total transaction of $742,789.80. Following the completion of the transaction, the director now owns 26,654 shares in the company, valued at approximately $1,564,589.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 3.38% of the company’s stock.

Starbucks Corp. Company Profile

Starbucks Corporation is the roaster, marketer and retailer of specialty coffee. The Company purchases and roasts coffees that it sells, along with coffee, tea and other beverages, and a range of fresh food items, through Company-operated stores. It also sells a range of coffee and tea products and licenses its trademarks through other channels, such as licensed stores, grocery and national foodservice accounts.

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