Starbucks Corporation (NASDAQ:SBUX) Shares Sold by Washington Trust Advisors Inc.

Washington Trust Advisors Inc. cut its stake in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 2.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 188,618 shares of the coffee company's stock after selling 3,841 shares during the period. Starbucks accounts for 1.6% of Washington Trust Advisors Inc.'s portfolio, making the stock its 21st largest position. Washington Trust Advisors Inc.'s holdings in Starbucks were worth $18,502,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Starbucks in the 4th quarter valued at approximately $25,000. Graney & King LLC bought a new stake in Starbucks during the fourth quarter valued at $26,000. Runnymede Capital Advisors Inc. acquired a new stake in shares of Starbucks during the fourth quarter worth $27,000. Noble Wealth Management PBC bought a new position in shares of Starbucks in the 4th quarter worth about $30,000. Finally, Kapitalo Investimentos Ltda acquired a new position in shares of Starbucks in the 4th quarter valued at about $32,000. 72.29% of the stock is currently owned by institutional investors.

Starbucks Stock Performance

Shares of SBUX stock opened at $92.11 on Monday. Starbucks Corporation has a 1 year low of $71.55 and a 1 year high of $117.46. The business's fifty day moving average is $86.80 and its 200-day moving average is $94.29. The stock has a market cap of $104.67 billion, a PE ratio of 33.37, a price-to-earnings-growth ratio of 4.73 and a beta of 1.00.

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

Wall Street Analysts Forecast Growth

SBUX has been the topic of several research reports. Evercore ISI reiterated an "outperform" rating and set a $105.00 price objective (up previously from $95.00) on shares of Starbucks in a research note on Tuesday, June 24th. Jefferies Financial Group upgraded Starbucks from an "underperform" rating to a "hold" rating and set a $76.00 price target on the stock in a research report on Wednesday, April 9th. Robert W. Baird reissued a "neutral" rating and issued a $85.00 price target (down previously from $114.00) on shares of Starbucks in a report on Monday, April 7th. Stifel Nicolaus lowered their price objective on Starbucks from $103.00 to $92.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. Finally, Argus upgraded Starbucks from a "hold" rating to a "buy" rating and set a $115.00 target price on the stock in a research note on Tuesday, March 18th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $98.76.

About Starbucks

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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