Matrix Asset Advisors Inc. NY Reduces Holdings in Starbucks Corporation (NASDAQ:SBUX)

Matrix Asset Advisors Inc. NY cut its holdings in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 21.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 162,861 shares of the coffee company's stock after selling 43,608 shares during the quarter. Starbucks makes up approximately 1.8% of Matrix Asset Advisors Inc. NY's portfolio, making the stock its 24th largest holding. Matrix Asset Advisors Inc. NY's holdings in Starbucks were worth $15,975,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Starbucks in the fourth quarter valued at approximately $25,000. Graney & King LLC acquired a new stake in shares of Starbucks in the fourth quarter valued at approximately $26,000. Runnymede Capital Advisors Inc. acquired a new stake in shares of Starbucks in the fourth quarter valued at approximately $27,000. Marshall Investment Management LLC acquired a new stake in shares of Starbucks in the fourth quarter valued at approximately $30,000. Finally, Noble Wealth Management PBC acquired a new stake in shares of Starbucks in the fourth quarter valued at approximately $30,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on SBUX shares. Wells Fargo & Company lowered their price target 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. Argus upgraded shares of Starbucks from a "hold" rating to a "buy" rating and set a $115.00 target price on the stock in a research report on Tuesday, March 18th. TD Cowen restated a "hold" rating and set a $90.00 target price on shares of Starbucks in a research report on Thursday, May 29th. BMO Capital Markets decreased their target price on shares of Starbucks from $115.00 to $100.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Starbucks from $105.00 to $100.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 30th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $98.96.

Starbucks Stock Performance

Shares of NASDAQ:SBUX traded up $0.84 during midday trading on Friday, hitting $93.12. 9,196,362 shares of the company's stock traded hands, compared to its average volume of 10,946,177. The company has a market cap of $105.82 billion, a PE ratio of 33.74, a P/E/G ratio of 4.74 and a beta of 1.00. The firm's fifty day moving average price is $85.88 and its two-hundred day moving average price is $94.54. Starbucks Corporation has a twelve month low of $71.55 and a twelve month 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 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.10). Starbucks had a negative return on equity of 42.14% and a net margin of 8.61%. The firm had revenue of $8.76 billion for the quarter, compared to analysts' expectations of $8.90 billion. During the same period last year, the firm earned $0.68 EPS. The business's quarterly revenue was up 2.3% on a year-over-year basis. As a group, equities research analysts anticipate that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

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.