Palouse Capital Management Inc. Trims Stake in Starbucks Co. (NASDAQ:SBUX)

Palouse Capital Management Inc. cut its holdings in Starbucks Co. (NASDAQ:SBUX - Free Report) by 50.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,229 shares of the coffee company's stock after selling 24,048 shares during the quarter. Starbucks accounts for approximately 1.6% of Palouse Capital Management Inc.'s holdings, making the stock its 29th largest position. Palouse Capital Management Inc.'s holdings in Starbucks were worth $2,279,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of SBUX. Vanguard Group Inc. grew its position in shares of Starbucks by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 111,106,209 shares of the coffee company's stock valued at $10,138,442,000 after acquiring an additional 784,432 shares during the period. Capital World Investors lifted its holdings in Starbucks by 20.1% during the fourth quarter. Capital World Investors now owns 54,924,230 shares of the coffee company's stock valued at $5,011,796,000 after purchasing an additional 9,174,682 shares in the last quarter. FMR LLC raised its position in shares of Starbucks by 27.0% during the 4th quarter. FMR LLC now owns 25,128,649 shares of the coffee company's stock valued at $2,292,989,000 after purchasing an additional 5,348,790 shares during the period. Geode Capital Management LLC boosted its holdings in Starbucks by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 24,826,001 shares of the coffee company's stock worth $2,259,516,000 after buying an additional 548,245 shares during the period. Finally, Wellington Management Group LLP increased its stake in Starbucks by 4.7% in the 4th quarter. Wellington Management Group LLP now owns 15,868,817 shares of the coffee company's stock worth $1,448,030,000 after buying an additional 718,880 shares in the last quarter. Institutional investors own 72.29% of the company's stock.

Starbucks Trading Down 2.0%

Shares of SBUX stock traded down $1.89 during trading hours on Tuesday, reaching $91.59. 5,864,708 shares of the company's stock were exchanged, compared to its average volume of 11,009,669. The company has a market cap of $104.08 billion, a price-to-earnings ratio of 29.55, a P/E/G ratio of 3.59 and a beta of 1.00. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $117.46. The stock's 50 day moving average is $85.44 and its 200-day moving average is $94.77.

Starbucks (NASDAQ:SBUX - Get Free Report) last posted its quarterly earnings data 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 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 firm posted $0.68 earnings per share. The company's quarterly revenue was up 2.3% on a year-over-year basis. Equities analysts anticipate that Starbucks Co. will post 2.99 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on SBUX shares. Cowen lowered shares of Starbucks from a "buy" rating to a "hold" rating in a report on Thursday, May 29th. Royal Bank of Canada raised their target price on shares of Starbucks from $95.00 to $100.00 and gave the company an "outperform" rating in a research note on Wednesday, June 11th. Stifel Nicolaus decreased their price target on shares of Starbucks from $103.00 to $92.00 and set a "buy" rating on the stock in a research note on Wednesday, April 30th. BMO Capital Markets cut their price objective on Starbucks from $115.00 to $100.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. Finally, Citigroup lifted their price objective on shares of Starbucks from $84.00 to $95.00 and gave the stock a "neutral" rating in a research note on Thursday, June 12th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, Starbucks has an average rating of "Hold" and a consensus target price of $98.96.

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.