Impax Asset Management Group plc Has $25.77 Million Stock Holdings in Starbucks Corporation (NASDAQ:SBUX)

Impax Asset Management Group plc trimmed its position in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 16.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 262,760 shares of the coffee company's stock after selling 49,893 shares during the period. Impax Asset Management Group plc's holdings in Starbucks were worth $25,774,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. University of Texas Texas AM Investment Management Co. acquired a new stake in Starbucks in the fourth quarter worth approximately $25,000. Graney & King LLC acquired a new stake in shares of Starbucks during the 4th quarter valued at $26,000. Runnymede Capital Advisors Inc. acquired a new stake in shares of Starbucks during the 4th quarter valued at $27,000. Kapitalo Investimentos Ltda acquired a new stake in shares of Starbucks during the 4th quarter valued at $32,000. Finally, Ball & Co Wealth Management Inc. acquired a new stake in shares of Starbucks during the 4th quarter valued at $41,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Stock Up 1.4%

SBUX stock traded up $1.30 during mid-day trading on Tuesday, reaching $94.94. 6,982,904 shares of the stock traded hands, compared to its average volume of 10,905,676. Starbucks Corporation has a 52 week low of $71.55 and a 52 week high of $117.46. The business has a 50-day moving average of $88.33 and a two-hundred day moving average of $94.40. The firm has a market capitalization of $107.89 billion, a PE ratio of 34.40, a P/E/G ratio of 4.80 and a beta of 1.02.

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 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 firm had revenue of $8.76 billion for the quarter, compared to the consensus estimate of $8.90 billion. During the same quarter last year, the company earned $0.68 earnings per share. The firm's revenue was up 2.3% on a year-over-year basis. On average, equities research analysts anticipate that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. JPMorgan Chase & Co. cut their price objective on Starbucks from $105.00 to $100.00 and set an "overweight" rating for the company in a research report on Wednesday, April 30th. CICC Research assumed coverage on Starbucks in a research report on Monday, June 30th. They set an "outperform" rating and a $100.00 price objective for the company. UBS Group cut their price objective on Starbucks from $105.00 to $90.00 and set a "neutral" rating for the company in a research report on Monday, April 28th. Baird R W downgraded shares of Starbucks from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 7th. Finally, Wall Street Zen downgraded shares of Starbucks from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, Starbucks has an average 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.