Starbucks Co. (NASDAQ:SBUX) Stock Position Decreased by Wendell David Associates Inc.

Wendell David Associates Inc. trimmed its position in shares of Starbucks Co. (NASDAQ:SBUX) by 2.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,577 shares of the coffee company’s stock after selling 400 shares during the quarter. Wendell David Associates Inc.’s holdings in Starbucks were worth $1,332,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in the company. Norges Bank acquired a new stake in shares of Starbucks in the 4th quarter valued at $1,244,812,000. Capital World Investors raised its holdings in Starbucks by 20.1% during the fourth quarter. Capital World Investors now owns 54,924,230 shares of the coffee company’s stock valued at $5,011,796,000 after buying an additional 9,174,682 shares in the last quarter. FMR LLC lifted its position in shares of Starbucks by 27.0% in the fourth quarter. FMR LLC now owns 25,128,649 shares of the coffee company’s stock worth $2,292,989,000 after buying an additional 5,348,790 shares during the last quarter. Capital Research Global Investors boosted its stake in shares of Starbucks by 167.6% during the 4th quarter. Capital Research Global Investors now owns 5,690,198 shares of the coffee company’s stock worth $519,230,000 after acquiring an additional 3,563,942 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Starbucks during the 4th quarter valued at about $284,283,000. Institutional investors own 72.29% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on SBUX shares. TD Securities reiterated a “hold” rating and set a $90.00 price target on shares of Starbucks in a report on Wednesday, June 11th. Guggenheim cut their target price on shares of Starbucks from $95.00 to $83.00 and set a “neutral” rating for the company in a research report on Tuesday, April 29th. Argus upgraded shares of Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price target for the company in a report on Tuesday, March 18th. Citigroup boosted their price objective on Starbucks from $84.00 to $95.00 and gave the stock a “neutral” rating in a research report on Thursday, June 12th. Finally, Jefferies Financial Group raised Starbucks from an “underperform” rating to a “hold” rating and set a $76.00 target price on the stock in a report on Wednesday, April 9th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $98.96.

Starbucks Price Performance

Starbucks stock opened at $93.48 on Tuesday. The firm has a market capitalization of $106.23 billion, a P/E ratio of 30.15, a P/E/G ratio of 3.59 and a beta of 1.00. The stock has a fifty day moving average price of $85.44 and a two-hundred day moving average price of $94.77. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $117.46.

Starbucks (NASDAQ:SBUX) last announced its earnings results 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 negative return on equity of 44.97% and a net margin of 9.73%. The firm had revenue of $8.76 billion for the quarter, compared to analyst estimates of $8.90 billion. During the same quarter last year, the business earned $0.68 EPS. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. On average, equities research analysts predict 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.