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

Maple Capital Management Inc. reduced its position in Starbucks Co. (NASDAQ:SBUX) by 14.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). 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 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Riverview Trust Co raised its holdings in shares of Starbucks by 3.4% during the 3rd quarter. Riverview Trust Co now owns 3,199 shares of the coffee company’s stock valued at $312,000 after buying an additional 105 shares during the period. Astoria Portfolio Advisors LLC. raised its holdings in shares of Starbucks by 2.0% during the 1st quarter. Astoria Portfolio Advisors LLC. now owns 6,393 shares of the coffee company’s stock valued at $544,000 after buying an additional 127 shares during the period. Keystone Wealth Services LLC raised its holdings in shares of Starbucks by 1.3% during the 3rd quarter. Keystone Wealth Services LLC now owns 10,151 shares of the coffee company’s stock valued at $990,000 after buying an additional 130 shares during the period. Chicago Capital LLC raised its holdings in shares of Starbucks by 0.6% during the 3rd quarter. Chicago Capital LLC now owns 21,129 shares of the coffee company’s stock valued at $2,060,000 after buying an additional 132 shares during the period. Finally, M&R Capital Management Inc. increased its holdings in Starbucks by 30.9% during the 2nd quarter. M&R Capital Management Inc. now owns 567 shares of the coffee company’s stock worth $44,000 after purchasing an additional 134 shares during the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Stock Performance

Shares of SBUX stock opened at $95.88 on Tuesday. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $107.66. The stock has a fifty day moving average of $95.29 and a two-hundred day moving average of $84.73. The firm has a market capitalization 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.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.93. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The company had revenue of $9.11 billion during the quarter, compared to analyst estimates of $9.25 billion. During the same quarter in the previous year, the firm posted $1.00 EPS. The firm’s quarterly revenue was down .6% on a year-over-year basis. Equities research analysts predict that Starbucks Co. will post 3.55 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on SBUX shares. Robert W. Baird upgraded Starbucks from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $81.00 to $110.00 in a report on Tuesday, August 13th. Sanford C. Bernstein upgraded Starbucks from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $92.00 to $115.00 in a report on Thursday, September 26th. Morgan Stanley lifted their price objective on Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. BMO Capital Markets lifted their price objective on Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Monday, September 9th. Finally, TD Cowen restated a “buy” rating and set a $110.00 price objective on shares of Starbucks in a report on Thursday, September 12th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $102.44.

Insiders Place Their Bets

In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now owns 62,502 shares in the company, valued at approximately $5,697,682.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Jorgen Vig Knudstorp acquired 380 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was acquired at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the acquisition, the director now directly owns 36,242 shares in the company, valued at $3,316,143. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, CEO Rachel Ruggeri sold 3,290 shares of the company’s 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 of the company’s stock, valued at approximately $5,697,682.32. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.98% of the stock is currently owned by insiders.

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.