Starbucks Co. (NASDAQ:SBUX) Stock Position Decreased by Fifth Third Bancorp

Fifth Third Bancorp trimmed its position in Starbucks Co. (NASDAQ:SBUX - Free Report) by 4.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 263,641 shares of the coffee company's stock after selling 13,229 shares during the quarter. Fifth Third Bancorp's holdings in Starbucks were worth $25,861,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of SBUX. University of Texas Texas AM Investment Management Co. acquired a new stake in Starbucks during the 4th quarter valued at $25,000. Graney & King LLC bought a new position in Starbucks during the 4th quarter valued at $26,000. Runnymede Capital Advisors Inc. bought a new position in Starbucks during the 4th quarter valued at $27,000. Marshall Investment Management LLC bought a new stake in Starbucks in the fourth quarter valued at about $30,000. Finally, Noble Wealth Management PBC acquired a new stake in Starbucks during the fourth quarter valued at approximately $30,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on SBUX. Robert W. Baird reissued a "neutral" rating and set a $85.00 price target (down from $114.00) on shares of Starbucks in a research report on Monday, April 7th. Citigroup boosted their target price on shares of Starbucks from $84.00 to $95.00 and gave the company a "neutral" rating in a research note on Thursday. Stifel Nicolaus reduced their price target on shares of Starbucks from $103.00 to $92.00 and set a "buy" rating on the stock in a research report on Wednesday, April 30th. Cowen lowered Starbucks from a "buy" rating to a "hold" rating in a research report on Thursday, May 29th. Finally, BMO Capital Markets decreased their target price on shares of Starbucks from $115.00 to $100.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. Three 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. Based on data from MarketBeat.com, Starbucks currently has a consensus rating of "Hold" and a consensus target price of $98.96.

Starbucks Trading Down 1.1%

Shares of Starbucks stock traded down $1.06 on Friday, reaching $93.26. 7,115,975 shares of the company were exchanged, compared to its average volume of 11,035,453. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $117.46. The firm has a market capitalization of $105.98 billion, a price-to-earnings ratio of 30.08, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00. The stock has a fifty day moving average price of $84.89 and a 200-day moving average price of $94.98.

Starbucks (NASDAQ:SBUX - Get Free Report) last released its 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 9.73% and a negative return on equity of 44.97%. The business had revenue of $8.76 billion during the quarter, compared to analysts' expectations of $8.90 billion. During the same quarter in the previous year, the company earned $0.68 EPS. Starbucks's revenue for the quarter was up 2.3% on a year-over-year basis. On average, equities analysts anticipate that Starbucks Co. will post 2.99 earnings per share for the current fiscal year.

Starbucks 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.