Nisa Investment Advisors LLC Sells 15,403 Shares of Starbucks Corporation (NASDAQ:SBUX)

Nisa Investment Advisors LLC cut its position in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 3.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 386,070 shares of the coffee company's stock after selling 15,403 shares during the period. Nisa Investment Advisors LLC's holdings in Starbucks were worth $37,870,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Capital Wealth Advisors purchased a new stake in Starbucks in the 4th quarter valued at about $285,000. Czech National Bank boosted its position in Starbucks by 6.2% in the 1st quarter. Czech National Bank now owns 260,898 shares of the coffee company's stock valued at $25,591,000 after buying an additional 15,132 shares during the period. Treasurer of the State of North Carolina raised its holdings in shares of Starbucks by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 498,511 shares of the coffee company's stock valued at $45,489,000 after purchasing an additional 3,130 shares in the last quarter. Markel Group Inc. raised its stake in shares of Starbucks by 2.8% during the 4th quarter. Markel Group Inc. now owns 617,318 shares of the coffee company's stock worth $56,330,000 after acquiring an additional 17,000 shares in the last quarter. Finally, Natural Investments LLC bought a new position in shares of Starbucks during the 4th quarter worth approximately $1,295,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on SBUX. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $95.00 price objective (up from $85.00) on shares of Starbucks in a report on Thursday, June 12th. Citigroup upped 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, June 12th. Robert W. Baird reaffirmed 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. TD Cowen reissued a "hold" rating and issued a $90.00 price target on shares of Starbucks in a research report on Thursday, May 29th. Finally, 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 research report on Wednesday, April 30th. Three 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 data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $98.23.

Starbucks Stock Up 1.7%

Shares of Starbucks stock traded up $1.59 during trading hours on Wednesday, hitting $96.53. 973,267 shares of the company's stock traded hands, compared to its average volume of 10,868,138. The stock has a 50 day simple moving average of $88.33 and a 200-day simple moving average of $94.40. The company has a market cap of $109.69 billion, a PE ratio of 34.91, a PEG ratio of 4.80 and a beta of 1.02. 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 issued its quarterly earnings results on Tuesday, April 29th. The coffee company reported $0.41 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 company had revenue of $8.76 billion for the quarter, compared to the consensus estimate of $8.90 billion. During the same period in the previous year, the business posted $0.68 EPS. The business's revenue for the quarter was up 2.3% on a year-over-year basis. As a group, equities research analysts predict that Starbucks Corporation will post 2.99 EPS for the current 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.

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