Callahan Advisors LLC Sells 5,149 Shares of Starbucks Corporation (NASDAQ:SBUX)

Callahan Advisors LLC lowered its holdings in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 14.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,628 shares of the coffee company's stock after selling 5,149 shares during the period. Callahan Advisors LLC's holdings in Starbucks were worth $3,102,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Vanguard Capital Wealth Advisors bought a new stake in Starbucks during the fourth quarter worth about $285,000. Czech National Bank boosted its stake in Starbucks by 6.2% during the first quarter. Czech National Bank now owns 260,898 shares of the coffee company's stock worth $25,591,000 after acquiring an additional 15,132 shares in the last quarter. Treasurer of the State of North Carolina boosted its stake in Starbucks by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 498,511 shares of the coffee company's stock worth $45,489,000 after acquiring an additional 3,130 shares in the last quarter. Vanguard Group Inc. boosted its stake in Starbucks by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 111,106,209 shares of the coffee company's stock worth $10,138,442,000 after acquiring an additional 784,432 shares in the last quarter. Finally, Korea Investment CORP boosted its stake in Starbucks by 12.3% during the fourth quarter. Korea Investment CORP now owns 566,965 shares of the coffee company's stock worth $51,736,000 after acquiring an additional 61,900 shares in the last quarter. Institutional investors own 72.29% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on SBUX shares. Cowen reissued a "hold" rating on shares of Starbucks in a research note on Tuesday, June 24th. Robert W. Baird reiterated a "neutral" rating and issued a $85.00 target price (down previously from $114.00) on shares of Starbucks in a research note on Monday, April 7th. CICC Research began coverage on shares of Starbucks in a research note on Monday, June 30th. They issued an "outperform" rating and a $100.00 target price on the stock. The Goldman Sachs Group reiterated a "neutral" rating and issued a $95.00 target price (up previously from $85.00) on shares of Starbucks in a research note on Thursday, June 12th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Starbucks from $105.00 to $100.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 30th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $98.23.

Starbucks Trading Down 0.1%

Shares of SBUX stock opened at $95.15 on Friday. Starbucks Corporation has a 12 month low of $71.55 and a 12 month high of $117.46. The stock has a market cap of $108.13 billion, a P/E ratio of 34.47, a P/E/G ratio of 4.88 and a beta of 1.02. The company has a 50 day simple moving average of $88.90 and a two-hundred day simple moving average of $94.46.

Starbucks (NASDAQ:SBUX - Get Free Report) last announced its 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 business had revenue of $8.76 billion for the quarter, compared to analysts' expectations of $8.90 billion. During the same period in the prior year, the company posted $0.68 earnings per share. 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.

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.

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