Moloney Securities Asset Management LLC Sells 32,547 Shares of Starbucks Corporation (NASDAQ:SBUX)

Moloney Securities Asset Management LLC reduced its holdings in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 84.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,054 shares of the coffee company's stock after selling 32,547 shares during the period. Moloney Securities Asset Management LLC's holdings in Starbucks were worth $594,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. University of Texas Texas AM Investment Management Co. bought a new position in shares of Starbucks in the fourth quarter worth approximately $25,000. Graney & King LLC bought a new position in shares of Starbucks in the fourth quarter worth approximately $26,000. Runnymede Capital Advisors Inc. bought a new position in shares of Starbucks in the fourth quarter worth approximately $27,000. Kapitalo Investimentos Ltda bought a new position in shares of Starbucks in the fourth quarter worth approximately $32,000. Finally, Ball & Co Wealth Management Inc. purchased a new position in Starbucks during the fourth quarter valued at $41,000. 72.29% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. TD Cowen reissued a "hold" rating and set a $90.00 price objective on shares of Starbucks in a research report on Thursday, May 29th. The Goldman Sachs Group reissued a "neutral" rating and set a $95.00 price objective (up previously from $85.00) on shares of Starbucks in a research report on Thursday, June 12th. Robert W. Baird reissued a "neutral" rating and set a $85.00 price objective (down previously from $114.00) on shares of Starbucks in a research report on Monday, April 7th. Cowen reissued a "hold" rating on shares of Starbucks in a research report on Tuesday, June 24th. Finally, Wells Fargo & Company lowered their price objective on Starbucks from $125.00 to $100.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Three research 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.com, the stock currently has an average rating of "Hold" and a consensus target price of $98.73.

Starbucks Price Performance

NASDAQ SBUX traded down $0.21 during trading hours on Friday, hitting $94.94. The company's stock had a trading volume of 6,339,055 shares, compared to its average volume of 10,851,998. The company's 50 day simple moving average is $89.10 and its two-hundred day simple moving average is $94.52. The company has a market cap of $107.89 billion, a P/E ratio of 34.40, a price-to-earnings-growth ratio of 4.86 and a beta of 1.02. Starbucks Corporation has a 12 month low of $71.55 and a 12 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 analysts' consensus estimates of $0.51 by ($0.10). The firm had revenue of $8.76 billion for the quarter, compared to the consensus estimate of $8.90 billion. Starbucks had a net margin of 8.61% and a negative return on equity of 42.14%. The company's revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.68 earnings per share. As a group, research analysts predict that Starbucks Corporation will post 2.99 earnings per share for the current fiscal 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.