Starbucks Co. (NASDAQ:SBUX) Stock Holdings Decreased by Rockland Trust Co.

Rockland Trust Co. reduced its position in Starbucks Co. (NASDAQ:SBUX) by 18.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 234,111 shares of the coffee company’s stock after selling 51,663 shares during the period. Rockland Trust Co.’s holdings in Starbucks were worth $22,964,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in SBUX. University of Texas Texas AM Investment Management Co. purchased a new position in Starbucks during the 4th quarter valued at about $25,000. Graney & King LLC purchased a new position in Starbucks during the 4th quarter valued at about $26,000. Runnymede Capital Advisors Inc. purchased a new position in Starbucks during the 4th quarter valued at about $27,000. Marshall Investment Management LLC purchased a new position in Starbucks during the 4th quarter valued at about $30,000. Finally, Noble Wealth Management PBC purchased a new stake in Starbucks in the 4th quarter worth approximately $30,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Argus upgraded shares of Starbucks from a “hold” rating to a “buy” rating and set a $115.00 target price for the company in a research report on Tuesday, March 18th. UBS Group lowered their target price on Starbucks from $105.00 to $90.00 and set a “neutral” rating on the stock in a research note on Monday, April 28th. Royal Bank of Canada boosted their target price on Starbucks from $95.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday. Cowen downgraded Starbucks from a “buy” rating to a “hold” rating in a research note on Thursday, May 29th. Finally, BMO Capital Markets lowered their target price on Starbucks from $115.00 to $100.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 30th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, Starbucks currently has an average rating of “Hold” and a consensus price target of $98.96.

Starbucks Stock Performance

Starbucks stock opened at $94.32 on Friday. The business’s 50-day simple moving average is $84.89 and its 200-day simple moving average is $94.98. The firm has a market capitalization of $107.19 billion, a PE ratio of 30.43, a PEG 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.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data 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 44.97% and a net margin of 9.73%. The business had revenue of $8.76 billion during the quarter, compared to the consensus estimate of $8.90 billion. During the same quarter in the previous year, the firm posted $0.68 earnings per share. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. Research analysts forecast that Starbucks Co. will post 2.99 earnings per share 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.