First Fiduciary Investment Counsel Inc. Sells 90,246 Shares of Starbucks Corporation (NASDAQ:SBUX)

First Fiduciary Investment Counsel Inc. decreased its holdings in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 97.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,083 shares of the coffee company's stock after selling 90,246 shares during the period. First Fiduciary Investment Counsel Inc.'s holdings in Starbucks were worth $204,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in SBUX. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Starbucks during the fourth quarter valued at about $25,000. Graney & King LLC purchased a new position in shares of Starbucks in the 4th quarter worth $26,000. Runnymede Capital Advisors Inc. bought a new stake in shares of Starbucks in the 4th quarter worth about $27,000. Noble Wealth Management PBC purchased a new stake in shares of Starbucks during the 4th quarter valued at about $30,000. Finally, Kapitalo Investimentos Ltda bought a new position in shares of Starbucks in the 4th quarter valued at about $32,000. Hedge funds and other institutional investors own 72.29% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on SBUX. BMO Capital Markets decreased their price objective on Starbucks from $115.00 to $100.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. Wall Street Zen downgraded Starbucks from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Jefferies Financial Group raised shares of Starbucks from an "underperform" rating to a "hold" rating and set a $76.00 target price on the stock in a research note on Wednesday, April 9th. Royal Bank Of Canada upped their price target on shares of Starbucks from $95.00 to $100.00 and gave the company an "outperform" rating in a report on Wednesday, June 11th. Finally, Wells Fargo & Company reduced their price objective on shares of Starbucks from $125.00 to $100.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and fourteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Starbucks presently has a consensus rating of "Hold" and an average target price of $98.76.

Starbucks Stock Performance

Shares of Starbucks stock opened at $92.11 on Monday. The company has a market capitalization of $104.67 billion, a PE ratio of 33.37, a P/E/G ratio of 4.73 and a beta of 1.00. The company has a 50-day simple moving average of $86.80 and a two-hundred day simple moving average of $94.29. Starbucks Corporation has a one year low of $71.55 and a one year 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 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 business had revenue of $8.76 billion during the quarter, compared to analysts' expectations of $8.90 billion. During the same quarter last year, the business posted $0.68 earnings per share. The company's quarterly revenue was up 2.3% compared to the same quarter last year. On average, equities analysts predict that Starbucks Corporation 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.

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