Trust Co. of Vermont Has $9.70 Million Stock Holdings in Starbucks Corporation $SBUX

Trust Co. of Vermont lessened its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 2.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 105,830 shares of the coffee company’s stock after selling 2,446 shares during the quarter. Trust Co. of Vermont’s holdings in Starbucks were worth $9,697,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Alliance Wealth Advisors LLC increased its stake in Starbucks by 2.1% during the 2nd quarter. Alliance Wealth Advisors LLC now owns 5,170 shares of the coffee company’s stock worth $474,000 after acquiring an additional 108 shares during the period. Brown Lisle Cummings Inc. lifted its position in shares of 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 buying an additional 117 shares during the last quarter. Benin Management CORP boosted its stake in Starbucks by 0.7% in the first quarter. Benin Management CORP now owns 16,575 shares of the coffee company’s stock valued at $1,626,000 after buying an additional 120 shares in the last quarter. Ted Buchan & Co grew its position in Starbucks by 1.5% in the first 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. Finally, Alexander Labrunerie & CO. Inc. grew its position in Starbucks by 3.5% in the first 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 during the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Robert W. Baird upgraded Starbucks from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $100.00 to $115.00 in a research report on Tuesday, August 12th. Bank of America lifted their target price on Starbucks from $101.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, July 18th. Morgan Stanley reiterated an “overweight” rating and issued a $103.00 target price (up previously from $95.00) on shares of Starbucks in a research report on Wednesday, July 30th. Citigroup decreased their target price on Starbucks from $100.00 to $99.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 30th. Finally, CICC Research initiated coverage on Starbucks in a research report on Monday, June 30th. They set an “outperform” rating and a $100.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $104.00.

Starbucks Stock Down 1.2%

Shares of SBUX stock opened at $84.60 on Wednesday. The firm has a market capitalization of $96.16 billion, a P/E ratio of 36.47, a P/E/G ratio of 5.15 and a beta of 1.00. Starbucks Corporation has a twelve month low of $75.50 and a twelve month high of $117.46. The stock’s fifty day simple moving average is $88.09 and its 200 day simple moving average is $88.80.

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). The company had revenue of $9.46 billion for the quarter, compared to analyst estimates of $9.29 billion. Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%.The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.93 earnings per share. As a group, equities research analysts expect that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks 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.