Starbucks Corporation (NASDAQ:SBUX) Shares Sold by Bell Bank

Bell Bank cut its holdings in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 54.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 4,044 shares of the coffee company's stock after selling 4,926 shares during the period. Bell Bank's holdings in Starbucks were worth $397,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of SBUX. Insigneo Advisory Services LLC increased its holdings in shares of Starbucks by 47.2% during the 1st quarter. Insigneo Advisory Services LLC now owns 12,210 shares of the coffee company's stock worth $1,198,000 after buying an additional 3,917 shares during the last quarter. Cardinal Capital Management increased its holdings in shares of Starbucks by 1.4% during the 1st quarter. Cardinal Capital Management now owns 84,785 shares of the coffee company's stock worth $8,317,000 after buying an additional 1,154 shares during the last quarter. Chicago Capital LLC increased its holdings in shares of Starbucks by 43.2% during the 1st quarter. Chicago Capital LLC now owns 39,049 shares of the coffee company's stock worth $3,830,000 after buying an additional 11,771 shares during the last quarter. AA Financial Advisors LLC purchased a new stake in Starbucks during the 1st quarter worth $289,000. Finally, Inscription Capital LLC purchased a new stake in Starbucks during the 1st quarter worth $1,554,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently weighed in on SBUX shares. Baird R W cut shares of Starbucks from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 7th. BMO Capital Markets decreased their price target on shares of Starbucks from $115.00 to $100.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. Robert W. Baird reissued a "neutral" rating and issued a $85.00 price objective (down from $114.00) on shares of Starbucks in a research report on Monday, April 7th. Cowen cut shares of Starbucks from a "buy" rating to a "hold" rating in a research report on Thursday, May 29th. Finally, 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. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $98.96.

Starbucks Trading Up 0.7%

SBUX traded up $0.67 on Wednesday, hitting $92.26. 1,519,960 shares of the company's stock were exchanged, compared to its average volume of 10,978,354. The firm has a market cap of $104.84 billion, a PE ratio of 33.41, a P/E/G ratio of 4.69 and a beta of 1.00. Starbucks Corporation has a twelve month low of $71.55 and a twelve month high of $117.46. The stock has a fifty day moving average of $85.50 and a two-hundred day moving average of $94.75.

Starbucks (NASDAQ:SBUX - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The coffee company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.10). The business 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%. Starbucks's revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.68 EPS. On average, analysts predict that Starbucks Corporation will post 2.99 EPS for the current 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.