Starbucks Co. (NASDAQ:SBUX) Shares Sold by Rockland Trust Co.

Rockland Trust Co. trimmed its position in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 18.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 234,111 shares of the coffee company's stock after selling 51,663 shares during the period. Rockland Trust Co.'s holdings in Starbucks were worth $22,964,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in SBUX. University of Texas Texas AM Investment Management Co. purchased a new stake in Starbucks during the fourth quarter worth approximately $25,000. Graney & King LLC purchased a new position in Starbucks in the fourth quarter valued at approximately $26,000. Runnymede Capital Advisors Inc. acquired a new stake in Starbucks during the fourth quarter worth approximately $27,000. Marshall Investment Management LLC purchased a new stake in shares of Starbucks during the 4th quarter worth approximately $30,000. Finally, Noble Wealth Management PBC acquired a new position in shares of Starbucks in the 4th quarter valued at $30,000. Institutional investors and hedge funds own 72.29% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on SBUX. UBS Group cut their price target on shares of Starbucks from $105.00 to $90.00 and set a "neutral" rating on the stock in a research note on Monday, April 28th. TD Securities reaffirmed a "hold" rating and set a $90.00 price objective on shares of Starbucks in a report on Wednesday. TD Cowen reissued a "hold" rating and issued a $90.00 target price on shares of Starbucks in a report on Thursday, May 29th. BMO Capital Markets decreased their target price 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, Guggenheim cut their price target on Starbucks from $95.00 to $83.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 29th. 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 MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $98.96.

Starbucks Trading Down 1.1%

Shares of NASDAQ:SBUX traded down $1.06 during trading on Friday, hitting $93.26. 7,115,975 shares of the stock were exchanged, compared to its average volume of 11,035,453. The company has a market cap of $105.98 billion, a PE ratio of 30.08, a P/E/G ratio of 3.59 and a beta of 1.00. The company has a fifty day moving average price of $84.89 and a two-hundred day moving average price of $94.98. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $117.46.

Starbucks (NASDAQ:SBUX - Get Free Report) last posted its earnings results on Tuesday, April 29th. The coffee company reported $0.41 EPS for the quarter, missing analysts' consensus estimates of $0.51 by ($0.10). Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. The firm had revenue of $8.76 billion for the quarter, compared to analysts' expectations of $8.90 billion. During the same quarter in the previous year, the firm posted $0.68 earnings per share. The firm's revenue for the quarter was up 2.3% compared to the same quarter last year. Equities research analysts anticipate that Starbucks Co. 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.