Bright Rock Capital Management LLC Trims Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Bright Rock Capital Management LLC trimmed its holdings in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 20.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 80,000 shares of the coffee company's stock after selling 20,000 shares during the quarter. Starbucks comprises about 1.7% of Bright Rock Capital Management LLC's holdings, making the stock its 24th largest position. Bright Rock Capital Management LLC's holdings in Starbucks were worth $7,847,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in SBUX. University of Texas Texas AM Investment Management Co. bought a new position in Starbucks in the fourth quarter valued at $25,000. Graney & King LLC purchased a new position in shares of Starbucks in the 4th quarter worth about $26,000. Runnymede Capital Advisors Inc. bought a new position in shares of Starbucks during the 4th quarter valued at about $27,000. Marshall Investment Management LLC bought a new position in shares of Starbucks during the 4th quarter valued at about $30,000. Finally, Noble Wealth Management PBC purchased a new position in shares of Starbucks during the 4th quarter valued at about $30,000. 72.29% of the stock is currently owned by institutional investors.

Starbucks Stock Performance

Shares of SBUX traded down $1.06 on Friday, hitting $93.26. 7,115,975 shares of the stock traded hands, compared to its average volume of 11,035,453. Starbucks Co. has a one year low of $71.55 and a one year high of $117.46. The company has a market capitalization of $105.98 billion, a PE ratio of 30.08, a P/E/G ratio of 3.59 and a beta of 1.00. The business has a 50 day simple moving average of $84.89 and a 200 day simple moving average of $94.98.

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 (EPS) for the quarter, missing analysts' consensus estimates of $0.51 by ($0.10). Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. The company had revenue of $8.76 billion for the quarter, compared to analysts' expectations of $8.90 billion. During the same period in the previous year, the business earned $0.68 EPS. The business's revenue was up 2.3% compared to the same quarter last year. On average, equities analysts expect that Starbucks Co. will post 2.99 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on SBUX shares. BMO Capital Markets reduced 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. Guggenheim dropped their target price on shares of Starbucks from $95.00 to $83.00 and set a "neutral" rating for the company in a report on Tuesday, April 29th. Argus upgraded Starbucks from a "hold" rating to a "buy" rating and set a $115.00 price target on the stock in a report on Tuesday, March 18th. Wall Street Zen lowered Starbucks from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Finally, Citigroup lifted their price objective on Starbucks from $84.00 to $95.00 and gave the stock a "neutral" rating in a research report on Thursday. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $98.96.

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.