MainStreet Investment Advisors LLC Reduces Stake in Starbucks Corporation (NASDAQ:SBUX)

MainStreet Investment Advisors LLC lowered its position in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 31.2% during the first quarter, according to its most recent Form 13F 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 quarter. MainStreet Investment Advisors LLC's holdings in Starbucks were worth $1,290,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. TrinityPoint Wealth LLC raised its stake in Starbucks by 2.7% during the fourth quarter. TrinityPoint Wealth LLC now owns 3,421 shares of the coffee company's stock valued at $312,000 after buying an additional 89 shares during the last quarter. Pioneer Trust Bank N A OR grew its position in Starbucks by 0.8% during the 4th quarter. Pioneer Trust Bank N A OR now owns 11,312 shares of the coffee company's stock valued at $1,032,000 after purchasing an additional 92 shares during the last quarter. Wintrust Investments LLC increased its stake in Starbucks by 7.1% during the 4th quarter. Wintrust Investments LLC now owns 1,411 shares of the coffee company's stock valued at $128,000 after purchasing an additional 94 shares in the last quarter. Gamco Investors INC. ET AL raised its holdings in Starbucks by 3.5% in the fourth quarter. Gamco Investors INC. ET AL now owns 2,860 shares of the coffee company's stock worth $261,000 after buying an additional 97 shares during the last quarter. Finally, Foster Dykema Cabot & Partners LLC lifted its stake in shares of Starbucks by 10.6% in the fourth quarter. Foster Dykema Cabot & Partners LLC now owns 1,014 shares of the coffee company's stock worth $93,000 after buying an additional 97 shares in the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Stock Down 0.1%

SBUX stock traded down $0.10 during midday trading on Thursday, hitting $95.15. The company's stock had a trading volume of 6,909,299 shares, compared to its average volume of 10,874,732. Starbucks Corporation has a 12 month low of $71.55 and a 12 month high of $117.46. The company has a 50 day moving average of $88.63 and a two-hundred day moving average of $94.40. The firm has a market capitalization of $108.13 billion, a price-to-earnings ratio of 34.47, a price-to-earnings-growth ratio of 4.88 and a beta of 1.02.

Starbucks (NASDAQ:SBUX - Get Free Report) last issued its earnings results on Tuesday, April 29th. The coffee company reported $0.41 earnings per share for the quarter, missing analysts' consensus estimates of $0.51 by ($0.10). The company had revenue of $8.76 billion for the quarter, compared to the consensus estimate of $8.90 billion. Starbucks had a negative return on equity of 42.14% and a net margin of 8.61%. Starbucks's revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.68 EPS. On average, analysts anticipate that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently weighed in on SBUX. JPMorgan Chase & Co. decreased their price objective on shares of Starbucks from $105.00 to $100.00 and set an "overweight" rating for the company in a report on Wednesday, April 30th. Jefferies Financial Group upgraded Starbucks from an "underperform" rating to a "hold" rating and set a $76.00 price objective for the company in a report on Wednesday, April 9th. TD Securities reissued a "hold" rating and issued a $90.00 target price on shares of Starbucks in a research report on Monday, June 23rd. Royal Bank Of Canada raised 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, Evercore ISI reiterated an "outperform" rating and issued a $105.00 price target (up from $95.00) on shares of Starbucks in a research note on Tuesday, June 24th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $98.23.

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.