Starbucks Corporation (NASDAQ:SBUX) Shares Sold by Mattern Capital Management LLC

Mattern Capital Management LLC lowered its stake in shares of Starbucks Corporation (NASDAQ:SBUX) by 4.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 101,570 shares of the coffee company’s stock after selling 4,254 shares during the period. Starbucks accounts for 1.3% of Mattern Capital Management LLC’s investment portfolio, making the stock its 20th largest position. Mattern Capital Management LLC’s holdings in Starbucks were worth $9,963,000 as of its most recent filing with the SEC.

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 position in Starbucks during the fourth quarter worth $25,000. Graney & King LLC acquired a new position in shares of Starbucks in the 4th quarter valued at $26,000. Runnymede Capital Advisors Inc. acquired a new position in shares of Starbucks in the 4th quarter valued at $27,000. Noble Wealth Management PBC acquired a new position in shares of Starbucks in the 4th quarter valued at $30,000. Finally, Kapitalo Investimentos Ltda acquired a new position in shares of Starbucks in the 4th quarter valued at $32,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on SBUX shares. Barclays decreased their price target on Starbucks from $106.00 to $98.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 30th. TD Cowen reaffirmed a “hold” rating and issued a $90.00 price target on shares of Starbucks in a research note on Thursday, May 29th. TD Securities reaffirmed a “hold” rating and issued a $90.00 price target on shares of Starbucks in a research note on Monday. Stifel Nicolaus decreased their target price on Starbucks from $103.00 to $92.00 and set a “buy” rating on the stock in a research note on Wednesday, April 30th. Finally, Evercore ISI raised their target price on Starbucks from $95.00 to $105.00 and gave the company an “outperform” rating in a report on Tuesday. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $98.36.

Starbucks Stock Down 0.9%

Shares of Starbucks stock opened at $91.50 on Wednesday. Starbucks Corporation has a 52-week low of $71.55 and a 52-week high of $117.46. The company has a 50 day moving average of $86.17 and a 200 day moving average of $94.46. The company has a market capitalization of $103.98 billion, a P/E ratio of 33.15, a P/E/G ratio of 4.70 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last issued its quarterly 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 42.14% and a net margin of 8.61%. The firm had revenue of $8.76 billion during the quarter, compared to analysts’ expectations of $8.90 billion. During the same quarter in the prior year, the firm earned $0.68 EPS. The firm’s revenue was up 2.3% compared to the same quarter last year. As a group, research analysts anticipate that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

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.