RNC Capital Management LLC Trims Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

RNC Capital Management LLC lowered its position in shares of Starbucks Co. (NASDAQ:SBUX – Get Rating) by 2.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,820 shares of the coffee company’s stock after selling 276 shares during the quarter. RNC Capital Management LLC’s holdings in Starbucks were worth $1,272,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of SBUX. New Millennium Group LLC purchased a new stake in Starbucks in the second quarter worth about $25,000. Hillsdale Investment Management Inc. bought a new position in Starbucks during the 3rd quarter valued at approximately $27,000. Bell Investment Advisors Inc raised its stake in Starbucks by 44.4% during the third quarter. Bell Investment Advisors Inc now owns 478 shares of the coffee company’s stock valued at $40,000 after buying an additional 147 shares during the last quarter. MinichMacGregor Wealth Management LLC bought a new stake in Starbucks in the fourth quarter worth $40,000. Finally, Spartan Planning & Wealth Management purchased a new stake in shares of Starbucks in the third quarter worth $42,000. Institutional investors own 69.16% of the company’s stock.

Starbucks Trading Down 1.7 %

NASDAQ:SBUX opened at $98.70 on Friday. The stock has a 50-day moving average price of $105.02 and a 200 day moving average price of $97.32. The stock has a market capitalization of $113.44 billion, a P/E ratio of 34.39, a P/E/G ratio of 1.71 and a beta of 0.94. Starbucks Co. has a 12-month low of $68.39 and a 12-month high of $110.83.

Starbucks (NASDAQ:SBUX – Get Rating) last announced its quarterly earnings data on Thursday, February 2nd. The coffee company reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.02). Starbucks had a net margin of 10.09% and a negative return on equity of 39.78%. The company had revenue of $8.71 billion for the quarter, compared to analysts’ expectations of $8.78 billion. During the same period last year, the business earned $0.72 earnings per share. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. On average, research analysts predict that Starbucks Co. will post 3.41 earnings per share for the current fiscal year.

Insider Buying and Selling at Starbucks

In other news, CFO Rachel Ruggeri sold 3,960 shares of the firm’s stock in a transaction dated Monday, January 9th. The stock was sold at an average price of $106.50, for a total transaction of $421,740.00. Following the completion of the transaction, the chief financial officer now owns 57,962 shares in the company, valued at $6,172,953. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CFO Rachel Ruggeri sold 3,960 shares of the company’s stock in a transaction that occurred on Monday, January 9th. The stock was sold at an average price of $106.50, for a total transaction of $421,740.00. Following the sale, the chief financial officer now directly owns 57,962 shares of the company’s stock, valued at approximately $6,172,953. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Zabrina Jenkins sold 2,962 shares of the firm’s stock in a transaction on Monday, February 13th. The shares were sold at an average price of $108.48, for a total transaction of $321,317.76. Following the completion of the transaction, the executive vice president now directly owns 38,258 shares of the company’s stock, valued at $4,150,227.84. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,658 shares of company stock worth $820,706. Insiders own 1.98% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on SBUX shares. Robert W. Baird increased their price objective on shares of Starbucks from $94.00 to $110.00 and gave the company a “neutral” rating in a research report on Monday, January 30th. StockNews.com began coverage on shares of Starbucks in a research report on Thursday. They set a “hold” rating for the company. Morgan Stanley increased their target price on Starbucks from $96.00 to $100.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 18th. Citigroup increased their price objective on Starbucks from $111.00 to $112.00 and gave the company a “neutral” rating in a research report on Monday, February 6th. Finally, BMO Capital Markets boosted their target price on Starbucks from $120.00 to $125.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 15th. Thirteen equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $108.74.

Starbucks Profile

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Starbucks Corp. engages in the production, marketing, and retailing of specialty coffee. It operates through the following segments: North America, International, Channel Development, and Corporate and Other. The North America segment focuses on the United States and Canada. The International segment is involved in China, Japan, Asia Pacific, Europe, Middle East, Africa, Latin America, and Caribbean.