Starbucks Corporation (NASDAQ:SBUX) Shares Sold by Conning Inc.

Conning Inc. reduced its position in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 15.0% in the first quarter, according to its most recent filing with the SEC. The fund owned 315,638 shares of the coffee company's stock after selling 55,800 shares during the quarter. Conning Inc.'s holdings in Starbucks were worth $30,961,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SBUX. Vanguard Group Inc. lifted its position in Starbucks by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 111,106,209 shares of the coffee company's stock worth $10,138,442,000 after buying an additional 784,432 shares during the last quarter. Capital World Investors lifted its position in Starbucks by 20.1% in the fourth quarter. Capital World Investors now owns 54,924,230 shares of the coffee company's stock worth $5,011,796,000 after buying an additional 9,174,682 shares during the last quarter. FMR LLC lifted its position in Starbucks by 27.0% in the fourth 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 last quarter. Geode Capital Management LLC increased its stake in Starbucks by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 24,826,001 shares of the coffee company's stock worth $2,259,516,000 after purchasing an additional 548,245 shares during the period. Finally, Wellington Management Group LLP increased its stake in Starbucks by 4.7% in the fourth quarter. Wellington Management Group LLP now owns 15,868,817 shares of the coffee company's stock worth $1,448,030,000 after purchasing an additional 718,880 shares during the period. 72.29% of the stock is currently owned by institutional investors.

Starbucks Stock Up 0.3%

Shares of Starbucks stock traded up $0.26 on Friday, reaching $94.44. 3,557,273 shares of the stock were exchanged, compared to its average volume of 10,930,626. Starbucks Corporation has a twelve month low of $71.55 and a twelve month high of $117.46. The firm has a market capitalization of $107.32 billion, a price-to-earnings ratio of 34.22, a PEG ratio of 4.84 and a beta of 1.02. The business has a 50 day moving average price of $87.93 and a two-hundred day moving average price of $94.28.

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 8.61% and a negative return on equity of 42.14%. The company had revenue of $8.76 billion during the quarter, compared to analyst estimates of $8.90 billion. During the same period in the previous year, the firm posted $0.68 earnings per share. The company's revenue was up 2.3% compared to the same quarter last year. Research analysts forecast that Starbucks Corporation will post 2.99 EPS for the current year.

Wall Street Analysts Forecast Growth

SBUX has been the topic of a number of recent analyst reports. TD Securities reiterated a "hold" rating and issued a $90.00 target price on shares of Starbucks in a research note on Monday, June 23rd. 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. Cowen reiterated a "hold" rating on shares of Starbucks in a research note on Tuesday, June 24th. BMO Capital Markets reduced their target price on Starbucks from $115.00 to $100.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. Finally, Wall Street Zen lowered Starbucks from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and fifteen have given a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus 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.