Bessemer Group Inc. Sells 24,678 Shares of Starbucks Corporation (NASDAQ:SBUX)

Bessemer Group Inc. trimmed its holdings in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 30.1% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 57,243 shares of the coffee company's stock after selling 24,678 shares during the period. Bessemer Group Inc.'s holdings in Starbucks were worth $5,616,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in SBUX. Vanguard Group Inc. lifted its stake in shares of Starbucks by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 111,106,209 shares of the coffee company's stock worth $10,138,442,000 after buying an additional 784,432 shares during the last quarter. Capital World Investors boosted its holdings in Starbucks by 20.1% in the 4th quarter. Capital World Investors now owns 54,924,230 shares of the coffee company's stock valued at $5,011,796,000 after purchasing an additional 9,174,682 shares during the period. FMR LLC boosted its holdings in Starbucks by 27.0% in the 4th quarter. FMR LLC now owns 25,128,649 shares of the coffee company's stock valued at $2,292,989,000 after purchasing an additional 5,348,790 shares during the period. Geode Capital Management LLC boosted its holdings in Starbucks by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 24,826,001 shares of the coffee company's stock valued at $2,259,516,000 after purchasing an additional 548,245 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in Starbucks by 4.7% in the 4th quarter. Wellington Management Group LLP now owns 15,868,817 shares of the coffee company's stock valued at $1,448,030,000 after purchasing an additional 718,880 shares during the period. 72.29% of the stock is owned by institutional investors.

Starbucks Stock Performance

Shares of SBUX opened at $92.11 on Friday. Starbucks Corporation has a twelve month low of $71.55 and a twelve month high of $117.46. The firm's 50 day moving average price is $86.80 and its two-hundred day moving average price is $94.35. The firm has a market cap of $104.67 billion, a P/E ratio of 33.37, a PEG ratio of 4.70 and a beta of 1.00.

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

Wall Street Analyst Weigh In

SBUX has been the subject of a number of recent research reports. Cowen restated a "hold" rating on shares of Starbucks in a research note on Tuesday. Argus upgraded shares of Starbucks from a "hold" rating to a "buy" rating and set a $115.00 price objective for the company in a research note on Tuesday, March 18th. UBS Group dropped their target price on shares of Starbucks from $105.00 to $90.00 and set a "neutral" rating for the company in a research report on Monday, April 28th. Stifel Nicolaus dropped their target price on shares of Starbucks from $103.00 to $92.00 and set a "buy" rating for the company in a research report on Wednesday, April 30th. Finally, The Goldman Sachs Group reissued a "neutral" rating and set a $95.00 price objective (up previously from $85.00) on shares of Starbucks in a report on Thursday, June 12th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, Starbucks has an average rating of "Hold" and a consensus target price of $98.76.

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.

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