Loring Wolcott & Coolidge Fiduciary Advisors LLP MA trimmed its position in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 3.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 859,597 shares of the coffee company's stock after selling 32,899 shares during the quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA owned 0.08% of Starbucks worth $84,318,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank acquired a new stake in Starbucks in the 4th quarter valued at $1,244,812,000. Capital World Investors grew its stake in shares of Starbucks by 20.1% in the fourth quarter. Capital World Investors now owns 54,924,230 shares of the coffee company's stock valued at $5,011,796,000 after buying an additional 9,174,682 shares in the last quarter. FMR LLC raised its holdings in shares of Starbucks by 27.0% during the 4th quarter. FMR LLC now owns 25,128,649 shares of the coffee company's stock valued at $2,292,989,000 after buying an additional 5,348,790 shares during the period. Capital Research Global Investors lifted its position in Starbucks by 167.6% during the 4th quarter. Capital Research Global Investors now owns 5,690,198 shares of the coffee company's stock worth $519,230,000 after acquiring an additional 3,563,942 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Starbucks in the 4th quarter worth approximately $284,283,000. 72.29% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several research analysts have recently weighed in on SBUX shares. Jefferies Financial Group upgraded shares of Starbucks from an "underperform" rating to a "hold" rating and set a $76.00 target price for the company in a research note on Wednesday, April 9th. Wells Fargo & Company decreased their price target on shares of Starbucks from $125.00 to $100.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. 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 reissued a "hold" rating and set a $90.00 price objective on shares of Starbucks in a report on Thursday, May 29th. Finally, Stifel Nicolaus cut their target price on shares of Starbucks from $103.00 to $92.00 and set a "buy" rating on the stock in a research note on Wednesday, April 30th. Three equities research 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. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $98.76.
Get Our Latest Report on SBUX
Starbucks Stock Performance
NASDAQ:SBUX opened at $91.84 on Friday. The stock has a market cap of $104.37 billion, a price-to-earnings ratio of 33.28, a PEG ratio of 4.65 and a beta of 1.00. Starbucks Corporation has a 1 year low of $71.55 and a 1 year high of $117.46. The business has a fifty day moving average of $86.59 and a 200-day moving average of $94.39.
Starbucks (NASDAQ:SBUX - Get Free Report) last announced 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 8.61% and a negative return on equity of 42.14%. The company had revenue of $8.76 billion during the quarter, compared to the consensus estimate of $8.90 billion. During the same quarter in the prior year, the company earned $0.68 EPS. The business's quarterly revenue was up 2.3% on a year-over-year basis. On average, equities research analysts predict that Starbucks Corporation will post 2.99 EPS for the current year.
About Starbucks
(
Free Report)
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.
Further Reading
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