New Article: Tompkins Financial Corp Reduces Stake in Starbucks

Tompkins Financial Corp, an institutional investor, has sold 1.5% of its holdings in Starbucks Co. during the second quarter. The company now owns 32,425 shares of Starbucks stock, valued at $3,212,000. This reduction in stake is part of a larger trend, as other hedge funds and institutional investors have also made modifications to their holdings in Starbucks.

In other news, CFO Rachel Ruggeri recently sold 679 shares of Starbucks stock. This transaction was disclosed in a filing with the Securities and Exchange Commission. Additionally, 1.98% of the stock is owned by corporate insiders.

Wall Street analysts have weighed in on Starbucks, with various ratings and price targets. initiated coverage on the company, issuing a “buy” rating. Wells Fargo, Citigroup, and Bank of America have also provided ratings and target prices for Starbucks. Overall, the stock has an average rating of “Moderate Buy” and an average price target of $114.76 according to

Despite these developments, Starbucks stock has experienced a decline. It traded down $2.33 on Tuesday, reaching $94.43. The stock has a market cap of $108.16 billion and a P/E ratio of 29.50. Starbucks recently reported earnings per share of $1.00 for the quarter, beating analysts’ consensus estimates.

Starbucks Corporation is a global roaster, marketer, and retailer of specialty coffee. The company operates through various segments, offering a range of coffee and tea beverages, food products, and other related items.

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