West Paces Advisors Inc. Cuts Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

West Paces Advisors Inc. cut its stake in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 40.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,783 shares of the coffee company's stock after selling 3,880 shares during the quarter. West Paces Advisors Inc.'s holdings in Starbucks were worth $567,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. TrinityPoint Wealth LLC boosted its holdings in Starbucks by 2.7% in the fourth quarter. TrinityPoint Wealth LLC now owns 3,421 shares of the coffee company's stock worth $312,000 after purchasing an additional 89 shares during the last quarter. Pioneer Trust Bank N A OR boosted its position in Starbucks by 0.8% in the fourth quarter. Pioneer Trust Bank N A OR now owns 11,312 shares of the coffee company's stock worth $1,032,000 after purchasing an additional 92 shares during the last quarter. Wintrust Investments LLC increased its holdings in Starbucks by 7.1% during the fourth quarter. Wintrust Investments LLC now owns 1,411 shares of the coffee company's stock valued at $128,000 after buying an additional 94 shares during the last quarter. Kuhn & Co Investment Counsel grew its holdings in Starbucks by 2.3% during the fourth quarter. Kuhn & Co Investment Counsel now owns 4,240 shares of the coffee company's stock valued at $387,000 after purchasing an additional 96 shares during the period. Finally, Gamco Investors INC. ET AL increased its stake in shares of Starbucks by 3.5% in the fourth quarter. Gamco Investors INC. ET AL now owns 2,860 shares of the coffee company's stock worth $261,000 after purchasing an additional 97 shares in the last quarter. Institutional investors own 72.29% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on SBUX. TD Cowen reiterated a "hold" rating and issued a $90.00 price target on shares of Starbucks in a research note on Thursday, May 29th. Wells Fargo & Company cut their target price on Starbucks from $125.00 to $100.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Jefferies Financial Group raised Starbucks from an "underperform" rating to a "hold" rating and set a $76.00 price target on the stock in a report on Wednesday, April 9th. JPMorgan Chase & Co. cut their price objective on shares of Starbucks from $105.00 to $100.00 and set an "overweight" rating for the company in a report on Wednesday, April 30th. Finally, UBS Group lowered their target price on shares of Starbucks from $105.00 to $90.00 and set a "neutral" rating on the stock in a report on Monday, April 28th. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Starbucks currently has a consensus rating of "Hold" and an average target price of $97.92.

Starbucks Stock Up 0.8%

Starbucks stock traded up $0.76 during midday trading on Tuesday, reaching $91.43. The stock had a trading volume of 6,907,436 shares, compared to its average volume of 11,036,925. The firm has a market cap of $103.90 billion, a price-to-earnings ratio of 29.49, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $117.46. The company has a fifty day moving average of $84.28 and a 200 day moving average of $95.06.

Starbucks (NASDAQ:SBUX - Get Free Report) last released its 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 net margin of 9.73% and a negative return on equity of 44.97%. The business 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 company posted $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 Co. will post 2.99 EPS for the current year.

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.