Massmutual Trust Co. FSB ADV Has $11.01 Million Holdings in Starbucks Co. (NASDAQ:SBUX)

Massmutual Trust Co. FSB ADV reduced its stake in Starbucks Co. (NASDAQ:SBUX) by 22.0% in the 3rd quarter, HoldingsChannel reports. The firm owned 112,964 shares of the coffee company’s stock after selling 31,862 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in Starbucks were worth $11,013,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in SBUX. Cox Capital Mgt LLC raised its position in shares of Starbucks by 41.9% during the first quarter. Cox Capital Mgt LLC now owns 45,322 shares of the coffee company’s stock worth $4,142,000 after purchasing an additional 13,372 shares during the period. Brevan Howard Capital Management LP acquired a new position in Starbucks during the 4th quarter valued at about $2,781,000. Sanibel Captiva Trust Company Inc. purchased a new stake in shares of Starbucks in the fourth quarter worth approximately $31,246,000. Fidelis Capital Partners LLC boosted its position in shares of Starbucks by 18.7% during the first quarter. Fidelis Capital Partners LLC now owns 11,116 shares of the coffee company’s stock valued at $1,016,000 after buying an additional 1,751 shares during the last quarter. Finally, TKG Advisors LLC grew its holdings in Starbucks by 4.6% during the fourth quarter. TKG Advisors LLC now owns 19,503 shares of the coffee company’s stock worth $1,873,000 after buying an additional 860 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Analyst Ratings Changes

SBUX has been the subject of a number of recent analyst reports. Morgan Stanley reaffirmed an “overweight” rating and issued a $98.00 price objective on shares of Starbucks in a research report on Wednesday, July 31st. Baird R W upgraded shares of Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 13th. Piper Sandler upgraded shares of Starbucks from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $85.00 to $103.00 in a research note on Tuesday, August 13th. JPMorgan Chase & Co. increased their price objective on Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a report on Monday. Finally, DZ Bank downgraded Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price target for the company. in a research note on Wednesday, August 21st. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $101.12.

Starbucks Price Performance

NASDAQ:SBUX opened at $96.50 on Thursday. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $107.66. The business has a 50 day moving average of $90.02 and a 200 day moving average of $84.32. The company has a market capitalization of $109.31 billion, a price-to-earnings ratio of 26.58, a PEG ratio of 2.33 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.93. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The company had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $9.25 billion. During the same quarter in the prior year, the company earned $1.00 EPS. The firm’s revenue was down .6% on a year-over-year basis. As a group, sell-side analysts anticipate that Starbucks Co. will post 3.56 EPS for the current year.

Insider Transactions at Starbucks

In related news, Director Jorgen Vig Knudstorp purchased 380 shares of Starbucks stock in a transaction that occurred on Friday, September 6th. The shares were acquired at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the transaction, the director now directly owns 36,242 shares in the company, valued at $3,316,143. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Jorgen Vig Knudstorp acquired 380 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were purchased at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the transaction, the director now owns 36,242 shares of the company’s stock, valued at $3,316,143. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Rachel Ruggeri sold 3,290 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The stock was 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 directly owns 62,502 shares in the company, valued at $5,697,682.32. The disclosure for this sale can be found here. Company insiders own 1.98% of the company’s stock.

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.