Starbucks Co. (NASDAQ:SBUX) Shares Sold by McKinley Carter Wealth Services Inc.

McKinley Carter Wealth Services Inc. reduced its stake in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 12.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,055 shares of the coffee company's stock after selling 3,327 shares during the period. McKinley Carter Wealth Services Inc.'s holdings in Starbucks were worth $2,360,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. TrinityPoint Wealth LLC boosted its stake in Starbucks by 2.7% in the fourth quarter. TrinityPoint Wealth LLC now owns 3,421 shares of the coffee company's stock valued at $312,000 after acquiring an additional 89 shares in the last quarter. Pioneer Trust Bank N A OR lifted its holdings in shares of Starbucks by 0.8% in 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 boosted its position in shares of Starbucks by 7.1% in 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 during the period. Kuhn & Co Investment Counsel boosted its position in shares of Starbucks by 2.3% in the 4th quarter. Kuhn & Co Investment Counsel now owns 4,240 shares of the coffee company's stock valued at $387,000 after purchasing an additional 96 shares during the period. Finally, Gamco Investors INC. ET AL grew its stake in Starbucks by 3.5% during the 4th 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. 72.29% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SBUX. Argus raised Starbucks from a "hold" rating to a "buy" rating and set a $115.00 price objective for the company in a report on Tuesday, March 18th. Wall Street Zen downgraded shares of Starbucks from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Citigroup raised their price objective on shares of Starbucks from $84.00 to $95.00 and gave the stock a "neutral" rating in a research report on Thursday. Barclays reduced their target price on shares of Starbucks from $106.00 to $98.00 and set an "overweight" rating for the company in a report on Wednesday, April 30th. Finally, 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 report on Wednesday, April 9th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, Starbucks has a consensus rating of "Hold" and a consensus price target of $98.96.

Starbucks Trading Down 1.1%

Shares of NASDAQ:SBUX traded down $1.06 on Friday, reaching $93.26. 7,115,975 shares of the company were exchanged, compared to its average volume of 11,047,045. The company has a 50-day moving average of $84.89 and a 200-day moving average of $94.98. The firm has a market cap of $105.98 billion, a price-to-earnings ratio of 30.08, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $117.46.

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 the consensus estimate of $0.51 by ($0.10). Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. The company had revenue of $8.76 billion for the quarter, compared to analyst estimates of $8.90 billion. During the same quarter in the previous year, the company posted $0.68 earnings per share. The company's quarterly revenue was up 2.3% compared to the same quarter last year. As a group, analysts forecast that Starbucks Co. will post 2.99 earnings per share for the current year.

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.