Canandaigua National Bank & Trust Co. Buys 4,429 Shares of Starbucks Corporation (NASDAQ:SBUX)

Canandaigua National Bank & Trust Co. grew its position in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 144.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,504 shares of the coffee company's stock after buying an additional 4,429 shares during the period. Canandaigua National Bank & Trust Co.'s holdings in Starbucks were worth $736,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Starbucks by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 111,106,209 shares of the coffee company's stock valued at $10,138,442,000 after purchasing an additional 784,432 shares during the last quarter. Capital World Investors lifted its stake in shares of Starbucks by 20.1% during 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 buying an additional 9,174,682 shares in the last quarter. 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 worth $2,292,989,000 after buying an additional 5,348,790 shares during the period. Geode Capital Management LLC grew its stake 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 buying an additional 548,245 shares in the last quarter. Finally, Wellington Management Group LLP raised its holdings in Starbucks by 4.7% during 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 acquiring an additional 718,880 shares during the period. Institutional investors own 72.29% of the company's stock.

Starbucks Stock Down 0.8%

Shares of SBUX traded down $0.73 during trading hours on Wednesday, hitting $94.19. The company had a trading volume of 2,503,689 shares, compared to its average volume of 10,906,595. Starbucks Corporation has a 52-week low of $71.55 and a 52-week high of $117.46. The stock's 50 day moving average price is $87.28 and its 200 day moving average price is $94.26. The firm has a market cap of $107.04 billion, a P/E ratio of 34.20, a P/E/G ratio of 4.69 and a beta of 1.02.

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 negative return on equity of 42.14% and a net margin of 8.61%. The company had revenue of $8.76 billion during the quarter, compared to analysts' expectations of $8.90 billion. During the same period last year, the firm earned $0.68 earnings per share. Starbucks's revenue for the quarter was up 2.3% on a year-over-year basis. On average, research analysts expect that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on SBUX. Jefferies Financial Group raised Starbucks from an "underperform" rating to a "hold" rating and set a $76.00 price target for the company in a report on Wednesday, April 9th. 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. Wall Street Zen lowered Starbucks from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Citigroup upped their price target on Starbucks from $84.00 to $95.00 and gave the company a "neutral" rating in a research report on Thursday, June 12th. Finally, UBS Group cut their price objective 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. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and fifteen have given a buy rating to the company's stock. Based on data from MarketBeat, Starbucks has a consensus rating of "Hold" and an average price target of $98.23.

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.