Farmers National Bank Has $4.76 Million Holdings in Starbucks Co. (NASDAQ:SBUX)

Farmers National Bank raised its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 4.7% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 61,181 shares of the coffee company’s stock after purchasing an additional 2,737 shares during the period. Starbucks makes up approximately 1.4% of Farmers National Bank’s portfolio, making the stock its 20th biggest holding. Farmers National Bank’s holdings in Starbucks were worth $4,763,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SBUX. Ontario Teachers Pension Plan Board purchased a new stake in shares of Starbucks in the first quarter valued at about $415,167,000. Marshall Wace LLP lifted its position in shares of Starbucks by 1,466.3% during the 2nd quarter. Marshall Wace LLP now owns 3,350,932 shares of the coffee company’s stock worth $260,870,000 after buying an additional 3,136,992 shares in the last quarter. Diamond Hill Capital Management Inc. purchased a new position in shares of Starbucks in the 2nd quarter worth approximately $243,910,000. Flossbach Von Storch AG grew its holdings in shares of Starbucks by 106.7% in the first quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company’s stock valued at $512,943,000 after acquiring an additional 2,897,282 shares in the last quarter. Finally, Capital World Investors purchased a new stake in shares of Starbucks during the first quarter valued at approximately $257,721,000. 72.29% of the stock is owned by institutional investors.

Starbucks Trading Down 0.1 %

Shares of Starbucks stock opened at $97.43 on Wednesday. The company’s 50-day moving average price is $89.58 and its 200-day moving average price is $84.24. The company has a market cap of $110.41 billion, a price-to-earnings ratio of 26.84, a PEG ratio of 2.33 and a beta of 0.96. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $107.66.

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

Insider Transactions at Starbucks

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the completion of the sale, the chief executive officer now owns 75,054 shares of the company’s stock, valued at $7,057,327.62. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Rachel Ruggeri sold 3,290 shares of the stock in a transaction dated 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 sale, the chief executive officer now directly owns 62,502 shares in the company, valued at approximately $5,697,682.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $94.03, for a total value of $305,597.50. Following the completion of the transaction, the chief executive officer now directly owns 75,054 shares in the company, valued at $7,057,327.62. The disclosure for this sale can be found here. 1.98% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Jefferies Financial Group cut Starbucks from a “hold” rating to an “underperform” rating and cut their price objective for the stock from $80.00 to $76.00 in a research report on Tuesday, September 24th. Bank of America boosted their price target on shares of Starbucks from $112.00 to $118.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Sanford C. Bernstein upgraded shares of Starbucks from a “market perform” rating to an “outperform” rating and increased their price target for the company from $92.00 to $115.00 in a research report on Thursday, September 26th. Piper Sandler raised shares of Starbucks from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $85.00 to $103.00 in a research report on Tuesday, August 13th. Finally, Evercore ISI raised shares of Starbucks from an “in-line” rating to an “outperform” rating and increased their target price for the company from $80.00 to $120.00 in a research report on Wednesday, August 14th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $101.12.

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.