Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Trims Stake in Starbucks Co. (NASDAQ:SBUX)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lowered its stake in shares of Starbucks Co. (NASDAQ:SBUXGet Rating) by 6.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,304,927 shares of the coffee company’s stock after selling 94,992 shares during the quarter. Starbucks comprises 1.2% of Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s portfolio, making the stock its 28th largest position. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Starbucks were worth $118,709,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. New World Advisors LLC purchased a new stake in Starbucks in the third quarter worth about $225,000. EagleClaw Capital Managment LLC grew its holdings in Starbucks by 2.6% in the third quarter. EagleClaw Capital Managment LLC now owns 34,967 shares of the coffee company’s stock worth $3,853,000 after purchasing an additional 902 shares during the period. Legacy Wealth Planning LLC grew its holdings in Starbucks by 32.1% in the third quarter. Legacy Wealth Planning LLC now owns 2,911 shares of the coffee company’s stock worth $321,000 after purchasing an additional 707 shares during the period. Tudor Investment Corp Et Al grew its holdings in Starbucks by 146.4% in the third quarter. Tudor Investment Corp Et Al now owns 76,940 shares of the coffee company’s stock worth $8,487,000 after purchasing an additional 45,720 shares during the period. Finally, MFA Wealth Advisors LLC purchased a new stake in Starbucks in the third quarter worth about $49,000. Institutional investors own 69.21% of the company’s stock.

A number of equities research analysts have weighed in on the stock. Morgan Stanley cut their price objective on shares of Starbucks from $94.00 to $87.00 in a report on Wednesday, May 4th. UBS Group cut their price target on shares of Starbucks from $105.00 to $86.00 and set a “neutral” rating on the stock in a report on Monday, April 25th. Robert W. Baird cut their price target on shares of Starbucks from $95.00 to $85.00 in a report on Monday, April 25th. StockNews.com cut shares of Starbucks from a “buy” rating to a “hold” rating in a report on Thursday, May 12th. Finally, TheStreet cut shares of Starbucks from a “b-” rating to a “c+” rating in a report on Friday, April 22nd. Fourteen analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Starbucks has a consensus rating of “Hold” and a consensus target price of $102.72.

In other news, CEO Howard D. Schultz acquired 72,500 shares of the firm’s stock in a transaction dated Thursday, May 12th. The shares were purchased at an average cost of $68.85 per share, for a total transaction of $4,991,625.00. Following the transaction, the chief executive officer now directly owns 19,606,960 shares of the company’s stock, valued at $1,349,939,196. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Howard D. Schultz acquired 137,500 shares of the firm’s stock in a transaction dated Tuesday, May 10th. The shares were purchased at an average price of $72.67 per share, for a total transaction of $9,992,125.00. Following the completion of the transaction, the chief executive officer now directly owns 19,534,460 shares in the company, valued at $1,419,569,208.20. The disclosure for this purchase can be found here. 0.27% of the stock is owned by company insiders.

SBUX traded up $0.48 during trading on Thursday, hitting $73.78. The company’s stock had a trading volume of 45,774 shares, compared to its average volume of 8,485,222. Starbucks Co. has a one year low of $68.39 and a one year high of $126.32. The firm has a market cap of $84.62 billion, a PE ratio of 19.65, a P/E/G ratio of 2.15 and a beta of 0.97. The business’s 50 day simple moving average is $75.53 and its 200-day simple moving average is $89.88.

Starbucks (NASDAQ:SBUXGet Rating) last released its quarterly earnings results on Tuesday, May 3rd. The coffee company reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.01). Starbucks had a negative return on equity of 53.43% and a net margin of 14.07%. The business had revenue of $7.64 billion during the quarter, compared to the consensus estimate of $7.60 billion. During the same quarter in the previous year, the business posted $0.62 earnings per share. The firm’s revenue was up 14.5% on a year-over-year basis. Analysts expect that Starbucks Co. will post 2.89 earnings per share for the current fiscal year.

Starbucks Profile (Get Rating)

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty 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.

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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