Starbucks Co. (NASDAQ:SBUX) Shares Sold by Palouse Capital Management Inc.

Palouse Capital Management Inc. cut its position in shares of Starbucks Co. (NASDAQ:SBUX) by 50.9% in the 1st quarter, HoldingsChannel.com reports. The fund owned 23,229 shares of the coffee company’s stock after selling 24,048 shares during the period. Starbucks comprises about 1.6% of Palouse Capital Management Inc.’s holdings, making the stock its 29th largest position. Palouse Capital Management Inc.’s holdings in Starbucks were worth $2,279,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Starbucks in the fourth quarter valued at about $25,000. Graney & King LLC acquired a new stake in shares of Starbucks in the fourth quarter valued at about $26,000. Runnymede Capital Advisors Inc. acquired a new stake in shares of Starbucks in the fourth quarter valued at about $27,000. Marshall Investment Management LLC acquired a new stake in shares of Starbucks in the fourth quarter valued at about $30,000. Finally, Noble Wealth Management PBC acquired a new stake in shares of Starbucks in the fourth quarter valued at about $30,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Wells Fargo & Company lowered their target price on Starbucks from $125.00 to $100.00 and set an “overweight” rating for the company in a research note on Tuesday, April 22nd. Wall Street Zen lowered Starbucks from a “hold” rating to a “sell” rating in a research note on Thursday, May 22nd. Jefferies Financial Group upgraded Starbucks from an “underperform” rating to a “hold” rating and set a $76.00 target price for the company in a research note on Wednesday, April 9th. Stifel Nicolaus lowered their target price 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, The Goldman Sachs Group increased their target price on Starbucks from $85.00 to $95.00 and gave the company a “neutral” rating in a research note on Thursday. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $98.96.

Starbucks Trading Down 1.1%

Shares of SBUX opened at $93.26 on Friday. The firm has a market cap of $105.98 billion, a price-to-earnings ratio of 30.08, 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. The stock has a 50 day moving average of $85.17 and a 200-day moving average of $94.93.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Tuesday, April 29th. The coffee company reported $0.41 earnings per share (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 company had revenue of $8.76 billion for the quarter, compared to analyst estimates of $8.90 billion. During the same quarter in the prior year, the firm earned $0.68 EPS. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. On average, sell-side analysts predict that Starbucks Co. will post 2.99 earnings per share for the current fiscal year.

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.