Boston Trust Walden Corp reduced its stake in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 21.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 242,931 shares of the coffee company's stock after selling 67,132 shares during the quarter. Boston Trust Walden Corp's holdings in Starbucks were worth $23,829,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Arizona State Retirement System lifted its position in Starbucks by 0.8% in the 4th quarter. Arizona State Retirement System now owns 327,459 shares of the coffee company's stock valued at $29,881,000 after acquiring an additional 2,722 shares in the last quarter. West Michigan Advisors LLC bought a new stake in Starbucks during the 4th quarter worth about $265,000. Wernau Asset Management Inc. bought a new stake in Starbucks during the 4th quarter worth about $258,000. Vanguard Capital Wealth Advisors bought a new stake in Starbucks during the 4th quarter worth about $285,000. Finally, OFI Invest Asset Management bought a new stake in Starbucks during the 4th quarter worth about $9,497,000. 72.29% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
Several equities research analysts have commented on the stock. BMO Capital Markets cut their price target on shares of Starbucks from $115.00 to $100.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. JPMorgan Chase & Co. cut their price target on shares of Starbucks from $105.00 to $100.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 30th. Argus raised shares of Starbucks from a "hold" rating to a "buy" rating and set a $115.00 price target on the stock in a research report on Tuesday, March 18th. Stifel Nicolaus cut their price target on shares of Starbucks from $103.00 to $92.00 and set a "buy" rating on the stock in a research report on Wednesday, April 30th. Finally, TD Securities reissued a "hold" rating and set a $90.00 price target on shares of Starbucks in a research report on Wednesday, June 11th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $98.96.
Get Our Latest Report on Starbucks
Starbucks Stock Performance
Shares of SBUX opened at $92.28 on Friday. Starbucks Corporation has a 52 week low of $71.55 and a 52 week high of $117.46. The firm has a market cap of $104.87 billion, a P/E ratio of 33.43, a price-to-earnings-growth ratio of 4.70 and a beta of 1.00. The firm's 50-day simple moving average is $85.73 and its 200 day simple moving average is $94.67.
Starbucks (NASDAQ:SBUX - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The coffee company reported $0.41 EPS 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 analyst estimates of $8.90 billion. During the same quarter last year, the company posted $0.68 EPS. The firm's quarterly revenue was up 2.3% on a year-over-year basis. As a group, equities analysts forecast that Starbucks Corporation will post 2.99 earnings per share for the current year.
Starbucks Profile
(
Free Report)
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.
See Also
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