Starbucks Corporation (NASDAQ:SBUX) Shares Sold by KBC Group NV

KBC Group NV lowered its holdings in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 1.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 314,300 shares of the coffee company's stock after selling 5,213 shares during the period. KBC Group NV's holdings in Starbucks were worth $30,830,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Arizona State Retirement System lifted its holdings in shares of Starbucks by 0.8% during the 4th quarter. Arizona State Retirement System now owns 327,459 shares of the coffee company's stock worth $29,881,000 after acquiring an additional 2,722 shares during the period. West Michigan Advisors LLC acquired a new position in Starbucks during the fourth quarter worth approximately $265,000. Wernau Asset Management Inc. purchased a new position in Starbucks during the fourth quarter worth approximately $258,000. Vanguard Capital Wealth Advisors purchased a new stake in shares of Starbucks during the 4th quarter valued at $285,000. Finally, OFI Invest Asset Management acquired a new stake in shares of Starbucks during the 4th quarter worth $9,497,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Price Performance

Shares of SBUX stock opened at $92.11 on Monday. The firm has a fifty day moving average of $86.80 and a two-hundred day moving average of $94.29. The firm has a market cap of $104.67 billion, a P/E ratio of 33.37, a P/E/G ratio of 4.73 and a beta of 1.00. 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 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 42.14% and a net margin of 8.61%. The firm had revenue of $8.76 billion during the quarter, compared to analyst estimates of $8.90 billion. During the same quarter last year, the business posted $0.68 earnings per share. The firm's revenue for the quarter was up 2.3% on a year-over-year basis. On average, sell-side analysts expect that Starbucks Corporation will post 2.99 EPS for the current year.

Analysts Set New Price Targets

SBUX has been the subject of a number of research reports. Baird R W downgraded Starbucks from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 7th. Argus raised Starbucks from a "hold" rating to a "buy" rating and set a $115.00 price objective on the stock in a research note on Tuesday, March 18th. The Goldman Sachs Group reissued a "neutral" rating and set a $95.00 target price (up previously from $85.00) on shares of Starbucks in a research report on Thursday, June 12th. BMO Capital Markets cut their price target 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. Finally, TD Securities reiterated a "hold" rating and set a $90.00 price objective on shares of Starbucks in a research note on Monday, June 23rd. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, Starbucks currently has an average rating of "Hold" and an average 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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