Starbucks Co. (NASDAQ:SBUX) Shares Sold by Sanibel Captiva Trust Company Inc.

Sanibel Captiva Trust Company Inc. lowered its position in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 4.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 263,808 shares of the coffee company's stock after selling 11,518 shares during the period. Sanibel Captiva Trust Company Inc.'s holdings in Starbucks were worth $25,877,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in SBUX. Capital & Planning LLC boosted its holdings in Starbucks by 40.7% in the 4th quarter. Capital & Planning LLC now owns 12,039 shares of the coffee company's stock valued at $1,099,000 after purchasing an additional 3,483 shares in the last quarter. Brighton Jones LLC raised its position in shares of Starbucks by 86.5% during the 4th quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company's stock worth $16,126,000 after purchasing an additional 81,952 shares during the last quarter. Strategic Financial Concepts LLC acquired a new position in shares of Starbucks during the 4th quarter worth approximately $62,000. Vest Financial LLC raised its position in shares of Starbucks by 23.2% during the 4th quarter. Vest Financial LLC now owns 9,100 shares of the coffee company's stock worth $830,000 after purchasing an additional 1,716 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB raised its holdings in Starbucks by 1.7% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 24,310 shares of the coffee company's stock valued at $2,218,000 after acquiring an additional 411 shares during the last quarter. Institutional investors and hedge funds own 72.29% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on SBUX. Stifel Nicolaus lowered their price objective on shares of Starbucks from $103.00 to $92.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. BMO Capital Markets lowered their price objective on shares of Starbucks from $115.00 to $100.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. Citigroup lowered their price objective on shares of Starbucks from $88.00 to $84.00 and set a "neutral" rating for the company in a research note on Wednesday, April 30th. Robert W. Baird reissued a "neutral" rating and set a $85.00 price objective (down from $114.00) on shares of Starbucks in a research note on Monday, April 7th. Finally, Guggenheim lowered their price objective on shares of Starbucks from $95.00 to $83.00 and set a "neutral" rating for the company in a research note on Tuesday, April 29th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Starbucks presently has an average rating of "Hold" and a consensus target price of $98.12.

Starbucks Stock Performance

Shares of SBUX stock traded up $3.96 during trading hours on Wednesday, hitting $95.39. 14,818,533 shares of the company were exchanged, compared to its average volume of 11,069,528. Starbucks Co. has a one year low of $71.55 and a one year high of $117.46. The business's 50-day simple moving average is $84.34 and its two-hundred day simple moving average is $95.03. The stock has a market capitalization of $108.40 billion, a price-to-earnings ratio of 30.77, a P/E/G ratio of 3.59 and a beta of 1.00.

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 44.97% and a net margin of 9.73%. 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, analysts anticipate that Starbucks Co. will post 2.99 EPS for the current fiscal 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.