Mechanics Bank Trust Department Boosts Holdings in Starbucks Co. (NASDAQ:SBUX)

Mechanics Bank Trust Department grew its position in Starbucks Co. (NASDAQ:SBUX) by 256.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,544 shares of the coffee company’s stock after buying an additional 10,466 shares during the period. Mechanics Bank Trust Department’s holdings in Starbucks were worth $1,285,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of SBUX. Clearbridge Investments LLC lifted its holdings in Starbucks by 2.4% during the first quarter. Clearbridge Investments LLC now owns 113,900 shares of the coffee company’s stock worth $8,467,000 after acquiring an additional 2,619 shares during the period. Amundi Pioneer Asset Management Inc. lifted its holdings in Starbucks by 12.6% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 3,121,492 shares of the coffee company’s stock worth $232,052,000 after acquiring an additional 350,124 shares during the period. Neville Rodie & Shaw Inc. bought a new stake in Starbucks during the second quarter worth $218,000. Bath Savings Trust Co lifted its holdings in Starbucks by 0.6% during the second quarter. Bath Savings Trust Co now owns 138,722 shares of the coffee company’s stock worth $11,629,000 after acquiring an additional 845 shares during the period. Finally, Summit Financial Group Inc. lifted its holdings in Starbucks by 10.2% during the second quarter. Summit Financial Group Inc. now owns 4,214 shares of the coffee company’s stock worth $353,000 after acquiring an additional 389 shares during the period. 70.80% of the stock is owned by institutional investors and hedge funds.

A number of analysts recently commented on SBUX shares. BidaskClub lowered Starbucks from a “buy” rating to a “hold” rating in a report on Friday, October 4th. Cleveland Research reiterated a “hold” rating on shares of Starbucks in a report on Tuesday, September 10th. Goldman Sachs Group started coverage on Starbucks in a report on Monday, July 29th. They set a “buy” rating and a $110.00 price target on the stock. Citigroup started coverage on Starbucks in a report on Wednesday, June 26th. They set a “buy” rating and a $83.65 price target on the stock. Finally, Cowen set a $93.00 price target on Starbucks and gave the stock a “hold” rating in a report on Monday, September 23rd. One analyst has rated the stock with a sell rating, eighteen have issued a hold rating and thirteen have issued a buy rating to the stock. Starbucks has a consensus rating of “Hold” and an average price target of $90.10.

In other news, insider Kevin R. Johnson sold 23,390 shares of Starbucks stock in a transaction on Monday, July 29th. The stock was sold at an average price of $98.32, for a total value of $2,299,704.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Jill Walker sold 2,000 shares of Starbucks stock in a transaction on Monday, September 9th. The shares were sold at an average price of $95.80, for a total value of $191,600.00. Following the completion of the transaction, the chief accounting officer now owns 39,999 shares of the company’s stock, valued at $3,831,904.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 142,767 shares of company stock valued at $13,730,357. 3.98% of the stock is owned by company insiders.

Shares of SBUX opened at $86.03 on Friday. The firm has a market cap of $103.29 billion, a PE ratio of 35.55, a PEG ratio of 2.11 and a beta of 0.53. The stock’s fifty day moving average price is $90.05 and its two-hundred day moving average price is $85.71. Starbucks Co. has a 1 year low of $57.39 and a 1 year high of $99.72.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Thursday, July 25th. The coffee company reported $0.78 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.06. The firm had revenue of $6.82 billion for the quarter, compared to analyst estimates of $6.67 billion. Starbucks had a negative return on equity of 125.91% and a net margin of 13.63%. The business’s revenue was up 8.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.62 earnings per share. On average, equities analysts forecast that Starbucks Co. will post 2.83 EPS for the current year.

About Starbucks

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in four segments: Americas; China/Asia Pacific; Europe, Middle East, and Africa; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, iced tea, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.

Featured Story: What is the yield curve?

Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

Receive News & Ratings for Starbucks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Starbucks and related companies with MarketBeat.com's FREE daily email newsletter.