Starbucks Corporation (NASDAQ:SBUX) Shares Sold by Grimes & Company Inc.

Grimes & Company Inc. reduced its holdings in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 43.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,912 shares of the coffee company's stock after selling 13,800 shares during the quarter. Grimes & Company Inc.'s holdings in Starbucks were worth $1,757,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of SBUX. TrinityPoint Wealth LLC raised its holdings in Starbucks by 2.7% in the 4th quarter. TrinityPoint Wealth LLC now owns 3,421 shares of the coffee company's stock valued at $312,000 after acquiring an additional 89 shares in the last quarter. Pioneer Trust Bank N A OR raised its holdings in Starbucks by 0.8% in the 4th quarter. Pioneer Trust Bank N A OR now owns 11,312 shares of the coffee company's stock valued at $1,032,000 after acquiring an additional 92 shares in the last quarter. Wintrust Investments LLC raised its holdings in Starbucks by 7.1% in the 4th quarter. Wintrust Investments LLC now owns 1,411 shares of the coffee company's stock valued at $128,000 after acquiring an additional 94 shares in the last quarter. Gamco Investors INC. ET AL raised its holdings in Starbucks by 3.5% in the 4th quarter. Gamco Investors INC. ET AL now owns 2,860 shares of the coffee company's stock valued at $261,000 after acquiring an additional 97 shares in the last quarter. Finally, Foster Dykema Cabot & Partners LLC raised its holdings in shares of Starbucks by 10.6% in the 4th quarter. Foster Dykema Cabot & Partners LLC now owns 1,014 shares of the coffee company's stock worth $93,000 after buying an additional 97 shares in the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Stock Performance

Shares of SBUX opened at $91.59 on Wednesday. The firm has a market capitalization of $104.08 billion, a price-to-earnings ratio of 33.18, a PEG ratio of 4.69 and a beta of 1.00. The business's fifty day moving average price is $85.50 and its two-hundred day moving average price is $94.75. Starbucks Corporation has a 52 week low of $71.55 and a 52 week high of $117.46.

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

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Barclays dropped their target price on Starbucks from $106.00 to $98.00 and set an "overweight" rating for the company in a report on Wednesday, April 30th. UBS Group dropped their target price on Starbucks from $105.00 to $90.00 and set a "neutral" rating for the company in a report on Monday, April 28th. Guggenheim dropped their target price on Starbucks from $95.00 to $83.00 and set a "neutral" rating for the company in a report on Tuesday, April 29th. TD Securities reissued a "hold" rating and issued a $90.00 target price on shares of Starbucks in a report on Wednesday, June 11th. Finally, Royal Bank Of Canada increased their target price on Starbucks from $95.00 to $100.00 and gave the stock an "outperform" rating in a report on Wednesday, June 11th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target 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.

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