Farmers & Merchants Trust Co of Chambersburg PA Sells 350 Shares of Starbucks Corporation (NASDAQ:SBUX)

Farmers & Merchants Trust Co of Chambersburg PA reduced its stake in Starbucks Corporation (NASDAQ:SBUX) by 46.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 400 shares of the coffee company’s stock after selling 350 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA’s holdings in Starbucks were worth $39,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SBUX. TrinityPoint Wealth LLC boosted its stake in Starbucks by 2.7% in the fourth quarter. TrinityPoint Wealth LLC now owns 3,421 shares of the coffee company’s stock valued at $312,000 after acquiring an additional 89 shares in the last quarter. Pioneer Trust Bank N A OR lifted its holdings in shares of Starbucks by 0.8% during the 4th quarter. Pioneer Trust Bank N A OR now owns 11,312 shares of the coffee company’s stock valued at $1,032,000 after purchasing an additional 92 shares during the last quarter. Wintrust Investments LLC boosted its position in shares of Starbucks by 7.1% in the 4th quarter. Wintrust Investments LLC now owns 1,411 shares of the coffee company’s stock worth $128,000 after purchasing an additional 94 shares in the last quarter. Gamco Investors INC. ET AL boosted its position in shares of Starbucks by 3.5% in the 4th quarter. Gamco Investors INC. ET AL now owns 2,860 shares of the coffee company’s stock worth $261,000 after purchasing an additional 97 shares in the last quarter. Finally, Foster Dykema Cabot & Partners LLC grew its stake in Starbucks by 10.6% during the 4th quarter. Foster Dykema Cabot & Partners LLC now owns 1,014 shares of the coffee company’s stock worth $93,000 after buying an additional 97 shares during the last quarter. Institutional investors own 72.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on SBUX. Baird R W cut Starbucks from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 7th. Wall Street Zen downgraded shares of Starbucks from a “hold” rating to a “sell” rating in a report on Thursday, May 22nd. JPMorgan Chase & Co. lowered their target price on shares of Starbucks from $105.00 to $100.00 and set an “overweight” rating for the company in a research note on Wednesday, April 30th. Robert W. Baird reissued a “neutral” rating and set a $85.00 target price (down previously from $114.00) on shares of Starbucks in a research report on Monday, April 7th. Finally, Royal Bank Of Canada upped their price target on shares of Starbucks from $95.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, June 11th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $98.81.

Starbucks Trading Up 0.3%

Shares of SBUX stock opened at $92.11 on Monday. Starbucks Corporation has a 12-month low of $71.55 and a 12-month high of $117.46. The business’s 50 day moving average is $86.80 and its two-hundred day moving average is $94.29. The company has a market capitalization of $104.67 billion, a P/E ratio of 33.37, a P/E/G ratio of 4.73 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Tuesday, April 29th. The coffee company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.10). The business had revenue of $8.76 billion for the quarter, compared to analysts’ expectations of $8.90 billion. Starbucks had a net margin of 8.61% and a negative return on equity of 42.14%. The company’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the business earned $0.68 EPS. On average, research analysts predict that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

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.