Zions Bancorporation NA owns $305,000 in Starbucks Co. shares. (NASDAQ:SBUX)

Zions Bancorporation NA reduced its position in shares of Starbucks Co. (NASDAQ:SBUX – Free Report) by 67.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,912 shares of the coffee company’s stock after selling 8,032 shares during the period. Zions Bancorporation NA’s holdings in Starbucks were worth $305,000 at the end of the most recent quarter.

Several other large investors have recently added to or reduced their stakes in SBUX. Scarborough Advisors LLC acquired a new stake in shares of Starbucks in the 4th quarter valued at approximately $26,000. Vima LLC acquired a new stake in Starbucks during the fourth quarter valued at approximately $26,000. DSM Capital Partners LLC purchased a new stake in Starbucks during the fourth quarter valued at about $27,000. Fairman Group LLC bought a new stake in shares of Starbucks in the 4th quarter valued at about $30,000. Finally, Raleigh Capital Management Inc. raised its holdings in shares of Starbucks by 150.0% in the fourth quarter. Raleigh Capital Management Inc. now owns 330 shares of the coffee company’s stock worth $32,000 after buying an additional 198 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company’s shares.

Starbucks trading down 0.7%

Shares of Starbucks stock opened at $98.57 on Friday. The firm has a market cap of $111.65 billion, a P/E ratio of 27.15, a PEG ratio of 2.35 and a beta of 0.96. The company has a 50-day moving average of $84.39 and a 200-day moving average of $83.92. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $107.66.

Starbucks (NASDAQ:SBUX – Get Your Free Report ) last posted its 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 company’s quarterly revenue was down 0.6% year over year. During the same quarter in the previous year, the firm earned $1.00 per share. Research analysts anticipate that Starbucks Co. will post 3.56 EPS for the current fiscal year.

The Wall Street analyst weighs in

A number of brokerages weighed in on SBUX. DZ Bank cut Starbucks from a “hold” rating to a “sell” rating and set a $85.00 target price on the stock. in a research report on Wednesday, August 21st. Evercore ISI raised shares of Starbucks from an “in-line” rating to an “outperform” rating and upped their target price for the stock from $80.00 to $120.00 in a report on Wednesday, August 14th . Wedbush restated a “neutral” rating and issued a $80.00 target price on shares of Starbucks in a research report on Tuesday, August 13th. Piper Sandler raised shares of Starbucks from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $85.00 to $103.00 in a research note on Tuesday, 13 August. Finally, Bank of America raised their target price on shares of Starbucks from $108.00 to $112.00 and gave the company a “buy” rating in a research note on Monday, June 10th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Moderate Buy” and a consensus price target of $99.83, according to MarketBeat.com.

Check out the latest stock report on SBUX

Insider buying and selling at Starbucks

In other news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $94.03, for a total transaction of $305,597.50. Following the sale, the chief executive officer now owns 75,054 shares of the company’s stock, valued at $7,057,327.62. The transaction was disclosed in a legal filing with the SEC, which is available on the SEC’s website. In other news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction dated Thursday, August 15th. The shares were 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 legal filing with the Securities & Exchange Commission, which can be accessed via this hyperlink. Also, CEO Rachel Ruggeri sold 3,290 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were 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 $5,697,682.32. The disclosure for this sale can be found here. Insiders own 1.98% of the company’s shares.

Starbucks profile

(Free Report)

Starbucks Corporation, together with its subsidiaries, operates as a roaster, distributor and distributor of coffee worldwide. The company operates through three segments: North America, International and Channel Development. Its stores offer coffee and tea beverages, whole roasted beans and ground coffee, unique products and ready-to-drink beverages; and various food products such as pastries, breakfast sandwiches and lunch items.

See Also

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