Sabal Trust CO Sells 9,965 Shares of Starbucks Corporation (NASDAQ:SBUX)

Sabal Trust CO reduced its stake in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 80.1% during the first quarter, according to its most recent filing with the SEC. The fund owned 2,475 shares of the coffee company's stock after selling 9,965 shares during the quarter. Sabal Trust CO's holdings in Starbucks were worth $243,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in Starbucks by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 111,106,209 shares of the coffee company's stock valued at $10,138,442,000 after buying 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 during the last quarter. FMR LLC lifted its holdings in Starbucks by 27.0% during the fourth 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 last quarter. Geode Capital Management LLC lifted its holdings in Starbucks by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 24,826,001 shares of the coffee company's stock valued at $2,259,516,000 after purchasing an additional 548,245 shares during the last quarter. Finally, Wellington Management Group LLP lifted its holdings in Starbucks by 4.7% during the fourth quarter. Wellington Management Group LLP now owns 15,868,817 shares of the coffee company's stock valued at $1,448,030,000 after purchasing an additional 718,880 shares during the last quarter. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Stock Performance

SBUX stock opened at $91.84 on Friday. The company has a market capitalization of $104.37 billion, a PE ratio of 33.28, a price-to-earnings-growth ratio of 4.65 and a beta of 1.00. Starbucks Corporation has a one year low of $71.55 and a one year high of $117.46. The company's 50 day moving average price is $86.59 and its two-hundred day moving average price is $94.39.

Starbucks (NASDAQ:SBUX - Get Free Report) last posted 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). The business had revenue of $8.76 billion for the quarter, compared to analysts' expectations of $8.90 billion. Starbucks had a negative return on equity of 42.14% and a net margin of 8.61%. The company's revenue was up 2.3% compared to the same quarter last year. During the same period last year, the business posted $0.68 earnings per share. On average, research analysts predict that Starbucks Corporation will post 2.99 EPS for the current year.

Analyst Ratings Changes

Several research firms have commented on SBUX. BMO Capital Markets dropped their price objective on shares of Starbucks from $115.00 to $100.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. Royal Bank Of Canada upped their price objective on shares of Starbucks from $95.00 to $100.00 and gave the company an "outperform" rating in a report on Wednesday, June 11th. Argus upgraded shares of Starbucks from a "hold" rating to a "buy" rating and set a $115.00 price objective for the company in a research report on Tuesday, March 18th. The Goldman Sachs Group restated a "neutral" rating and issued a $95.00 price objective (up from $85.00) on shares of Starbucks in a research report on Thursday, June 12th. Finally, Robert W. Baird restated a "neutral" rating and issued a $85.00 price objective (down from $114.00) on shares of Starbucks in a research report on Monday, April 7th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and fourteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $98.76.

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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