Starbucks Corporation (NASDAQ:SBUX) Shares Sold by Bellevue Asset Management LLC

Bellevue Asset Management LLC cut its holdings in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 27.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 42,189 shares of the coffee company's stock after selling 15,582 shares during the period. Starbucks accounts for about 2.3% of Bellevue Asset Management LLC's holdings, making the stock its 9th biggest position. Bellevue Asset Management LLC's holdings in Starbucks were worth $4,138,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on SBUX. Sanford C. Bernstein lifted their price objective on shares of Starbucks from $90.00 to $100.00 and gave the company an "outperform" rating in a research report on Wednesday. Argus upgraded shares of Starbucks from a "hold" rating to a "buy" rating and set a $115.00 price objective on the stock in a research report on Tuesday, March 18th. Wells Fargo & Company lowered their price objective on shares of Starbucks from $125.00 to $100.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Royal Bank Of Canada lifted their price objective on shares of Starbucks from $95.00 to $100.00 and gave the company an "outperform" rating in a research report on Wednesday, June 11th. Finally, Barclays reiterated an "overweight" rating and issued a $108.00 price objective (up from $98.00) on shares of Starbucks in a research report on Thursday, June 26th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and fifteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Starbucks presently has a consensus rating of "Hold" and a consensus target price of $98.23.

Starbucks Stock Performance

SBUX stock traded up $0.26 during trading on Thursday, hitting $94.44. The stock had a trading volume of 3,557,273 shares, compared to its average volume of 10,930,626. The stock has a market cap of $107.32 billion, a price-to-earnings ratio of 34.22, a price-to-earnings-growth ratio of 4.82 and a beta of 1.02. The company's 50 day moving average price is $87.51 and its two-hundred day moving average price is $94.26. Starbucks Corporation has a 1-year low of $71.55 and a 1-year high of $117.46.

Starbucks (NASDAQ:SBUX - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The coffee company reported $0.41 earnings per share for the quarter, missing analysts' consensus estimates of $0.51 by ($0.10). The firm had revenue of $8.76 billion during the quarter, compared to analyst estimates of $8.90 billion. Starbucks had a net margin of 8.61% and a negative return on equity of 42.14%. The business's quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.68 EPS. As a group, sell-side analysts forecast that Starbucks Corporation will post 2.99 earnings per share 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.