White Pine Investment CO Sells 3,278 Shares of Starbucks Corporation (NASDAQ:SBUX)

White Pine Investment CO trimmed its holdings in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 25.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,627 shares of the coffee company's stock after selling 3,278 shares during the period. White Pine Investment CO's holdings in Starbucks were worth $944,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. University of Texas Texas AM Investment Management Co. bought a new stake in Starbucks during the fourth quarter worth about $25,000. Graney & King LLC bought a new position in Starbucks in the 4th quarter valued at about $26,000. Runnymede Capital Advisors Inc. acquired a new position in shares of Starbucks in the 4th quarter valued at approximately $27,000. Noble Wealth Management PBC bought a new stake in shares of Starbucks during the 4th quarter worth approximately $30,000. Finally, Kapitalo Investimentos Ltda acquired a new stake in shares of Starbucks during the 4th quarter worth approximately $32,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Stock Up 0.8%

Shares of NASDAQ SBUX traded up $0.74 during trading on Thursday, reaching $91.84. The company had a trading volume of 6,569,856 shares, compared to its average volume of 10,894,300. The stock has a market cap of $104.37 billion, a P/E ratio of 33.28, a PEG ratio of 4.66 and a beta of 1.00. The company's fifty day moving average price is $86.38 and its 200-day moving average price is $94.44. Starbucks Corporation has a 12 month low of $71.55 and a 12 month high of $117.46.

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

Analyst Ratings Changes

Several brokerages have commented on SBUX. Guggenheim lowered their price objective on shares of Starbucks from $95.00 to $83.00 and set a "neutral" rating for the company in a research report on Tuesday, April 29th. Stifel Nicolaus decreased their price target on Starbucks from $103.00 to $92.00 and set a "buy" rating on the stock in a research note on Wednesday, April 30th. Argus upgraded Starbucks from a "hold" rating to a "buy" rating and set a $115.00 price objective for the company in a research report on Tuesday, March 18th. Cowen reaffirmed a "hold" rating on shares of Starbucks in a research note on Tuesday. Finally, BMO Capital Markets lowered their target price on Starbucks from $115.00 to $100.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $98.76.

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.