Whittier Trust Co. of Nevada Inc. Sells 2,927 Shares of Starbucks Corporation (NASDAQ:SBUX)

Whittier Trust Co. of Nevada Inc. lowered its stake in Starbucks Corporation (NASDAQ:SBUX) by 5.9% in the 1st quarter, HoldingsChannel.com reports. The fund owned 46,288 shares of the coffee company’s stock after selling 2,927 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in Starbucks were worth $4,540,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. First Command Advisory Services Inc. increased its stake in shares of Starbucks by 4.1% in the 1st quarter. First Command Advisory Services Inc. now owns 5,098 shares of the coffee company’s stock valued at $500,000 after acquiring an additional 201 shares in the last quarter. Graybill Wealth Management LTD. acquired a new stake in Starbucks in the 1st quarter valued at $4,314,000. Massachusetts Financial Services Co. MA grew its position in Starbucks by 218.7% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 4,552,921 shares of the coffee company’s stock valued at $446,596,000 after purchasing an additional 3,124,533 shares during the period. Hohimer Wealth Management LLC grew its position in Starbucks by 2.4% in the 1st quarter. Hohimer Wealth Management LLC now owns 6,293 shares of the coffee company’s stock valued at $617,000 after purchasing an additional 150 shares during the period. Finally, Catalyst Financial Partners LLC grew its position in Starbucks by 7.7% in the 1st quarter. Catalyst Financial Partners LLC now owns 5,698 shares of the coffee company’s stock valued at $559,000 after purchasing an additional 406 shares during the period. Institutional investors own 72.29% of the company’s stock.

Starbucks Stock Performance

Shares of NASDAQ:SBUX opened at $92.48 on Wednesday. The company’s 50-day moving average is $89.53 and its 200 day moving average is $94.53. The company has a market capitalization of $105.09 billion, a P/E ratio of 33.51, a price-to-earnings-growth ratio of 4.78 and a beta of 1.02. Starbucks Corporation has a fifty-two week low of $71.55 and a fifty-two week high of $117.46.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, April 29th. The coffee company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.10). The company had revenue of $8.76 billion during the quarter, compared to analysts’ expectations of $8.90 billion. Starbucks had a negative return on equity of 42.14% and a net margin of 8.61%. Starbucks’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period last year, the firm posted $0.68 earnings per share. As a group, research analysts predict that Starbucks Corporation will post 2.99 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on SBUX shares. Cowen reissued a “hold” rating on shares of Starbucks in a research report on Tuesday, June 24th. Stifel Nicolaus lifted their price target on shares of Starbucks from $92.00 to $105.00 and gave the company a “buy” rating in a research report on Friday, July 11th. JPMorgan Chase & Co. reduced their price target on shares of Starbucks from $105.00 to $100.00 and set an “overweight” rating for the company in a research report on Wednesday, April 30th. Royal Bank Of Canada lifted their price target on shares of Starbucks from $95.00 to $100.00 and gave the company an “outperform” rating in a research report on Wednesday, June 11th. Finally, TD Cowen reissued a “hold” rating and issued a $90.00 price target on shares of Starbucks in a research report on Thursday, May 29th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $98.92.

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.