Northeast Investment Management Has $639,000 Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Northeast Investment Management decreased its stake in Starbucks Co. (NASDAQ:SBUX) by 2.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,514 shares of the coffee company’s stock after selling 136 shares during the period. Northeast Investment Management’s holdings in Starbucks were worth $639,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Norges Bank acquired a new stake in Starbucks during the fourth quarter worth approximately $1,244,812,000. Capital World Investors grew its stake in Starbucks by 20.1% during the fourth quarter. Capital World Investors now owns 54,924,230 shares of the coffee company’s stock worth $5,011,796,000 after purchasing an additional 9,174,682 shares during the period. FMR LLC grew its stake in Starbucks by 27.0% during the fourth quarter. FMR LLC now owns 25,128,649 shares of the coffee company’s stock worth $2,292,989,000 after purchasing an additional 5,348,790 shares during the period. Capital Research Global Investors grew its stake in Starbucks by 167.6% during the fourth quarter. Capital Research Global Investors now owns 5,690,198 shares of the coffee company’s stock worth $519,230,000 after purchasing an additional 3,563,942 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in Starbucks during the fourth quarter worth approximately $284,283,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Trading Up 0.8%

Shares of SBUX opened at $91.43 on Wednesday. The company has a market capitalization of $103.90 billion, a price-to-earnings ratio of 29.49, a PEG ratio of 3.59 and a beta of 1.00. The stock has a 50 day moving average of $84.34 and a 200 day moving average of $95.03. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $117.46.

Starbucks (NASDAQ:SBUX) last issued 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). The business had revenue of $8.76 billion for the quarter, compared to analysts’ expectations of $8.90 billion. Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. The business’s revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.68 earnings per share. As a group, equities research analysts predict that Starbucks Co. will post 2.99 earnings per share for the current year.

Analyst Ratings Changes

Several research firms recently commented on SBUX. Royal Bank of Canada cut Starbucks from an “outperform” rating to a “sector perform” rating in a research note on Thursday, May 29th. JPMorgan Chase & Co. decreased their target price on Starbucks from $105.00 to $100.00 and set an “overweight” rating for the company in a research note on Wednesday, April 30th. Guggenheim cut their price target on Starbucks from $95.00 to $83.00 and set a “neutral” rating on the stock in a report on Tuesday, April 29th. TD Cowen reiterated a “hold” rating and issued a $90.00 price target on shares of Starbucks in a report on Thursday, May 29th. Finally, 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 report on Wednesday, April 9th. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $97.92.

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.