Starbucks Corporation (NASDAQ:SBUX) Shares Sold by AMI Asset Management Corp

AMI Asset Management Corp lowered its position in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 5.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 324,156 shares of the coffee company's stock after selling 19,054 shares during the quarter. Starbucks comprises about 1.9% of AMI Asset Management Corp's portfolio, making the stock its 26th largest position. AMI Asset Management Corp's holdings in Starbucks were worth $31,796,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. TrinityPoint Wealth LLC raised its stake in shares of 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 increased its stake in shares of Starbucks by 0.8% during the fourth quarter. Pioneer Trust Bank N A OR now owns 11,312 shares of the coffee company's stock worth $1,032,000 after buying an additional 92 shares during the period. Wintrust Investments LLC raised its holdings in Starbucks by 7.1% in the fourth quarter. Wintrust Investments LLC now owns 1,411 shares of the coffee company's stock valued at $128,000 after acquiring an additional 94 shares in the last quarter. Gamco Investors INC. ET AL grew its holdings in Starbucks by 3.5% during the 4th quarter. Gamco Investors INC. ET AL now owns 2,860 shares of the coffee company's stock worth $261,000 after acquiring an additional 97 shares in the last quarter. Finally, Foster Dykema Cabot & Partners LLC increased its position in shares of Starbucks by 10.6% in the 4th quarter. Foster Dykema Cabot & Partners LLC now owns 1,014 shares of the coffee company's stock valued at $93,000 after purchasing an additional 97 shares during the last quarter. Institutional investors own 72.29% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Argus raised shares of Starbucks from a "hold" rating to a "buy" rating and set a $115.00 price objective for the company in a research report on Tuesday, March 18th. Jefferies Financial Group raised Starbucks from an "underperform" rating to a "hold" rating and set a $76.00 price objective for the company in a research report on Wednesday, April 9th. TD Securities reissued a "hold" rating and set a $90.00 target price on shares of Starbucks in a research report on Monday. Royal Bank Of Canada boosted their target price on Starbucks from $95.00 to $100.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 11th. Finally, TD Cowen reissued a "hold" rating and set a $90.00 price objective on shares of Starbucks in a report on Thursday, May 29th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $98.76.

Starbucks Price Performance

Shares of SBUX stock traded up $0.74 during midday trading on Thursday, reaching $91.84. 6,569,856 shares of the company traded hands, compared to its average volume of 10,894,302. The firm has a market cap of $104.37 billion, a PE ratio of 33.28, a price-to-earnings-growth ratio of 4.66 and a beta of 1.00. The firm's 50 day simple moving average is $86.38 and its two-hundred day simple moving average is $94.44. Starbucks Corporation has a 1-year low of $71.55 and a 1-year high of $117.46.

Starbucks (NASDAQ:SBUX - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The coffee company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.10). The firm had revenue of $8.76 billion for the quarter, compared to analyst estimates of $8.90 billion. Starbucks had a negative return on equity of 42.14% and a net margin of 8.61%. The business's revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.68 earnings per share. As a group, research analysts anticipate that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Profile

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.