Capital Investment Services of America Inc. Has $17.84 Million Stake in Starbucks Co. (NASDAQ:SBUX)

Capital Investment Services of America Inc. trimmed its stake in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 1.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 181,886 shares of the coffee company's stock after selling 3,556 shares during the quarter. Starbucks comprises 1.8% of Capital Investment Services of America Inc.'s holdings, making the stock its 25th biggest position. Capital Investment Services of America Inc.'s holdings in Starbucks were worth $17,841,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SBUX. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Starbucks during the fourth quarter valued at approximately $25,000. Graney & King LLC acquired a new stake in shares of Starbucks during the fourth quarter valued at approximately $26,000. Runnymede Capital Advisors Inc. acquired a new stake in shares of Starbucks during the fourth quarter valued at approximately $27,000. Marshall Investment Management LLC acquired a new stake in shares of Starbucks during the fourth quarter valued at approximately $30,000. Finally, Noble Wealth Management PBC acquired a new stake in shares of Starbucks during the fourth quarter valued at approximately $30,000. 72.29% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on SBUX shares. 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 report on Wednesday, April 30th. Jefferies Financial Group upgraded 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. Baird R W lowered shares of Starbucks from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 7th. TD Cowen reiterated a "hold" rating and issued a $90.00 price objective on shares of Starbucks in a research note on Thursday, May 29th. Finally, Guggenheim dropped their price objective on shares of Starbucks from $95.00 to $83.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 29th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $98.96.

Starbucks Price Performance

NASDAQ SBUX traded down $1.06 during trading hours on Friday, reaching $93.26. The company's stock had a trading volume of 7,115,975 shares, compared to its average volume of 11,035,461. The firm has a fifty day simple moving average of $85.17 and a 200-day simple moving average of $94.93. The stock has a market cap of $105.98 billion, a P/E ratio of 30.08, a P/E/G ratio of 3.59 and a beta of 1.00. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $117.46.

Starbucks (NASDAQ:SBUX - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The coffee company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.10). Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. The firm had revenue of $8.76 billion for the quarter, compared to the consensus estimate of $8.90 billion. During the same quarter in the previous year, the business posted $0.68 EPS. The firm's revenue for the quarter was up 2.3% compared to the same quarter last year. On average, research analysts expect that Starbucks Co. 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.