MainStreet Investment Advisors LLC Sells 5,977 Shares of Starbucks Corporation (NASDAQ:SBUX)

MainStreet Investment Advisors LLC lessened its holdings in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 31.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,150 shares of the coffee company's stock after selling 5,977 shares during the period. MainStreet Investment Advisors LLC's holdings in Starbucks were worth $1,290,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Vanguard Group Inc. lifted its stake in Starbucks by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 111,106,209 shares of the coffee company's stock valued at $10,138,442,000 after acquiring an additional 784,432 shares in the last quarter. Capital World Investors lifted its stake in Starbucks by 20.1% in the 4th quarter. Capital World Investors now owns 54,924,230 shares of the coffee company's stock valued at $5,011,796,000 after acquiring an additional 9,174,682 shares in the last quarter. FMR LLC lifted its stake in Starbucks by 27.0% in the 4th quarter. FMR LLC now owns 25,128,649 shares of the coffee company's stock valued at $2,292,989,000 after acquiring an additional 5,348,790 shares in the last quarter. Geode Capital Management LLC lifted its stake in Starbucks by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 24,826,001 shares of the coffee company's stock valued at $2,259,516,000 after acquiring an additional 548,245 shares in the last quarter. Finally, Wellington Management Group LLP lifted its stake in Starbucks by 4.7% in the 4th quarter. Wellington Management Group LLP now owns 15,868,817 shares of the coffee company's stock valued at $1,448,030,000 after acquiring an additional 718,880 shares in the last quarter. Institutional investors own 72.29% of the company's stock.

Starbucks Stock Down 0.2%

Shares of SBUX traded down $0.21 during trading hours on Friday, hitting $94.94. 6,339,055 shares of the company were exchanged, compared to its average volume of 10,850,827. The company has a market cap of $107.89 billion, a price-to-earnings ratio of 34.40, a P/E/G ratio of 4.87 and a beta of 1.02. Starbucks Corporation has a fifty-two week low of $71.55 and a fifty-two week high of $117.46. The firm's fifty day moving average is $89.10 and its 200 day moving average is $94.49.

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 the consensus estimate of $0.51 by ($0.10). The company had revenue of $8.76 billion for the quarter, compared to analyst estimates of $8.90 billion. Starbucks had a negative return on equity of 42.14% and a net margin of 8.61%. The business's revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period last year, the company posted $0.68 earnings per share. Analysts anticipate that Starbucks Corporation will post 2.99 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have commented on SBUX. Wall Street Zen cut Starbucks from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. The Goldman Sachs Group restated 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. Jefferies Financial Group raised Starbucks from an "underperform" rating to a "hold" rating and set a $76.00 price target on the stock in a research report on Wednesday, April 9th. TD Cowen reaffirmed a "hold" rating and set a $90.00 price target on shares of Starbucks in a research report on Thursday, May 29th. Finally, JPMorgan Chase & Co. lowered their price target on Starbucks from $105.00 to $100.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 30th. 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's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $98.73.

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.