Starbucks Co. (NASDAQ:SBUX) Shares Sold by Stock Yards Bank & Trust Co.

Stock Yards Bank & Trust Co. lowered its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 2.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 77,582 shares of the coffee company’s stock after selling 2,324 shares during the period. Stock Yards Bank & Trust Co.’s holdings in Starbucks were worth $7,610,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Azzad Asset Management Inc. ADV acquired a new position in Starbucks during the first quarter worth about $3,079,000. Goldstone Financial Group LLC acquired a new position in Starbucks during the first quarter worth about $217,000. Powers Advisory Group LLC raised its position in Starbucks by 8.1% during the first quarter. Powers Advisory Group LLC now owns 8,697 shares of the coffee company’s stock worth $853,000 after acquiring an additional 650 shares during the last quarter. Everhart Financial Group Inc. raised its position in shares of Starbucks by 27.3% in the first quarter. Everhart Financial Group Inc. now owns 5,628 shares of the coffee company’s stock valued at $552,000 after buying an additional 1,208 shares during the last quarter. Finally, Bar Harbor Wealth Management raised its position in shares of Starbucks by 1.0% in the first quarter. Bar Harbor Wealth Management now owns 32,204 shares of the coffee company’s stock valued at $3,159,000 after buying an additional 312 shares during the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Wall Street Analysts Forecast Growth

SBUX has been the subject of a number of recent analyst reports. Cowen downgraded shares of Starbucks from a “buy” rating to a “hold” rating in a report on Thursday, May 29th. Wall Street Zen downgraded shares of Starbucks from a “hold” rating to a “sell” rating in a report on Thursday, May 22nd. Stifel Nicolaus lowered their target price on shares of Starbucks from $103.00 to $92.00 and set a “buy” rating for the company in a report on Wednesday, April 30th. BMO Capital Markets lowered their target price on shares of Starbucks from $115.00 to $100.00 and set an “outperform” rating for the company in a report on Wednesday, April 30th. Finally, Jefferies Financial Group upgraded shares of Starbucks from an “underperform” rating to a “hold” rating and set a $76.00 target price for the company in a report on Wednesday, April 9th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $98.96.

Starbucks Stock Performance

Shares of NASDAQ:SBUX opened at $93.26 on Friday. The stock has a market capitalization of $105.98 billion, a price-to-earnings ratio of 30.08, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $117.46. The company’s fifty day moving average is $85.17 and its two-hundred day moving average is $94.93.

Starbucks (NASDAQ:SBUX) last released its quarterly 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 firm had revenue of $8.76 billion for the quarter, compared to the consensus estimate of $8.90 billion. Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. The firm’s revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.68 EPS. Sell-side analysts expect that Starbucks Co. will post 2.99 EPS for the current fiscal 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.