Oakworth Capital Inc. Sells 522 Shares of Starbucks Corporation $SBUX

Oakworth Capital Inc. lowered its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 14.9% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,993 shares of the coffee company’s stock after selling 522 shares during the period. Oakworth Capital Inc.’s holdings in Starbucks were worth $274,000 as of its most recent filing with the SEC.

Several other large investors have also bought and sold shares of SBUX. Brown Lisle Cummings Inc. increased its position in Starbucks by 1.4% during the 2nd quarter. Brown Lisle Cummings Inc. now owns 8,293 shares of the coffee company’s stock worth $760,000 after purchasing an additional 117 shares in the last quarter. Benin Management CORP increased its holdings in shares of Starbucks by 0.7% during the first quarter. Benin Management CORP now owns 16,575 shares of the coffee company’s stock worth $1,626,000 after buying an additional 120 shares in the last quarter. Ted Buchan & Co lifted its stake in shares of Starbucks by 1.5% in the 1st quarter. Ted Buchan & Co now owns 8,066 shares of the coffee company’s stock valued at $791,000 after acquiring an additional 120 shares during the last quarter. Alexander Labrunerie & CO. Inc. boosted its holdings in shares of Starbucks by 3.5% during the 1st quarter. Alexander Labrunerie & CO. Inc. now owns 3,561 shares of the coffee company’s stock valued at $349,000 after acquiring an additional 122 shares in the last quarter. Finally, Private Wealth Management Group LLC grew its position in Starbucks by 13.3% during the 1st quarter. Private Wealth Management Group LLC now owns 1,056 shares of the coffee company’s stock worth $104,000 after acquiring an additional 124 shares during the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Trading Down 0.5%

Shares of Starbucks stock opened at $83.39 on Monday. The business has a 50-day moving average price of $88.48 and a two-hundred day moving average price of $88.92. Starbucks Corporation has a 1-year low of $75.50 and a 1-year high of $117.46. The company has a market cap of $94.79 billion, a P/E ratio of 35.94, a PEG ratio of 5.01 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Tuesday, July 29th. The coffee company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.14). Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The business had revenue of $9.46 billion for the quarter, compared to the consensus estimate of $9.29 billion. During the same quarter in the previous year, the company earned $0.93 EPS. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. Equities research analysts forecast that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have commented on SBUX. Robert W. Baird upgraded Starbucks from a “neutral” rating to an “outperform” rating and increased their target price for the company from $100.00 to $115.00 in a research report on Tuesday, August 12th. CICC Research started coverage on shares of Starbucks in a research report on Monday, June 30th. They set an “outperform” rating and a $100.00 target price on the stock. TD Cowen reissued a “hold” rating and set a $95.00 target price on shares of Starbucks in a report on Thursday. Barclays lifted their price target on shares of Starbucks from $106.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, July 30th. Finally, Royal Bank Of Canada increased their price objective on Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Starbucks currently has a consensus rating of “Moderate Buy” and an average target price of $104.00.

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.