Starbucks Corporation (NASDAQ:SBUX) Shares Sold by Cambridge Investment Research Advisors Inc.

Cambridge Investment Research Advisors Inc. decreased its holdings in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 17.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 252,154 shares of the coffee company's stock after selling 52,530 shares during the quarter. Cambridge Investment Research Advisors Inc.'s holdings in Starbucks were worth $24,734,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Aspire Capital Advisors LLC lifted its position in Starbucks by 3.5% during the first quarter. Aspire Capital Advisors LLC now owns 24,013 shares of the coffee company's stock valued at $2,355,000 after buying an additional 803 shares during the period. Ellis Investment Partners LLC bought a new position in Starbucks in the 1st quarter valued at approximately $202,000. Kentucky Retirement Systems Insurance Trust Fund boosted its holdings in shares of Starbucks by 23.5% during the 1st quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 32,961 shares of the coffee company's stock valued at $3,233,000 after acquiring an additional 6,274 shares during the last quarter. Childress Capital Advisors LLC grew its position in Starbucks by 10.1% in the 1st quarter. Childress Capital Advisors LLC now owns 2,705 shares of the coffee company's stock worth $265,000 after purchasing an additional 249 shares during the period. Finally, Heartland Bank & Trust Co increased its position in Starbucks by 18.2% during the first quarter. Heartland Bank & Trust Co now owns 8,726 shares of the coffee company's stock valued at $856,000 after acquiring an additional 1,343 shares during the last quarter. 72.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. TD Securities reissued a "hold" rating and issued a $90.00 price objective on shares of Starbucks in a report on Monday. JPMorgan Chase & Co. cut their price target on Starbucks from $105.00 to $100.00 and set an "overweight" rating for the company in a report on Wednesday, April 30th. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $95.00 price objective (up from $85.00) on shares of Starbucks in a research report on Thursday, June 12th. Jefferies Financial Group raised shares of Starbucks from an "underperform" rating to a "hold" rating and set a $76.00 price target on the stock in a report on Wednesday, April 9th. Finally, Barclays decreased their price objective on shares of Starbucks from $106.00 to $98.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 30th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $98.36.

Starbucks Stock Down 0.9%

Shares of NASDAQ SBUX traded down $0.84 during mid-day trading on Tuesday, reaching $91.50. 9,495,047 shares of the company were exchanged, compared to its average volume of 10,926,820. Starbucks Corporation has a 1 year low of $71.55 and a 1 year high of $117.46. The firm has a 50-day moving average of $86.02 and a 200 day moving average of $94.48. The stock has a market cap of $103.98 billion, a price-to-earnings ratio of 33.15, a P/E/G ratio of 4.74 and a beta of 1.00.

Starbucks (NASDAQ:SBUX - Get Free Report) last posted 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 firm 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 company earned $0.68 EPS. The company's revenue was up 2.3% on a year-over-year basis. On average, equities analysts forecast that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Company 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.