Starbucks Co. (NASDAQ:SBUX) Stock Position Lowered by Ferguson Wellman Capital Management Inc.

Ferguson Wellman Capital Management Inc. lowered its position in shares of Starbucks Co. (NASDAQ:SBUX) by 0.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 34,373 shares of the coffee company’s stock after selling 325 shares during the quarter. Ferguson Wellman Capital Management Inc.’s holdings in Starbucks were worth $3,372,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Starbucks in the 4th quarter worth approximately $25,000. Graney & King LLC acquired a new stake in shares of Starbucks during the 4th quarter valued at $26,000. Runnymede Capital Advisors Inc. bought a new stake in shares of Starbucks during the 4th quarter worth $27,000. Marshall Investment Management LLC acquired a new position in shares of Starbucks in the 4th quarter worth $30,000. Finally, Noble Wealth Management PBC acquired a new stake in shares of Starbucks during the fourth quarter worth $30,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently weighed in on SBUX shares. UBS Group dropped their price target on Starbucks from $105.00 to $90.00 and set a “neutral” rating on the stock in a research note on Monday, April 28th. Wall Street Zen downgraded shares of Starbucks from a “hold” rating to a “sell” rating in a research report on Thursday, May 22nd. Citigroup reduced their price target on shares of Starbucks from $88.00 to $84.00 and set a “neutral” rating for the company in a research report on Wednesday, April 30th. The Goldman Sachs Group downgraded Starbucks from a “buy” rating to a “neutral” rating and dropped their target price for the company from $103.00 to $85.00 in a report on Wednesday, April 30th. Finally, Royal Bank of Canada raised their price target on shares of Starbucks from $95.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $98.12.

Starbucks Stock Up 4.3%

SBUX opened at $95.39 on Thursday. The stock’s 50 day moving average price is $84.61 and its two-hundred day moving average price is $95.03. The firm has a market capitalization of $108.40 billion, a P/E ratio of 30.77, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $117.46.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Tuesday, April 29th. The coffee company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.10). The company had revenue of $8.76 billion during the quarter, compared to analyst estimates of $8.90 billion. Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. The company’s revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.68 EPS. As a group, analysts anticipate that Starbucks Co. will post 2.99 earnings per share for the current 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.