Capital Investment Services of America Inc. Cuts Stock Position in Starbucks Co. (NASDAQ:SBUX)

Capital Investment Services of America Inc. decreased its position in Starbucks Co. (NASDAQ:SBUX) by 1.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 181,886 shares of the coffee company’s stock after selling 3,556 shares during the quarter. Starbucks accounts for about 1.8% of Capital Investment Services of America Inc.’s holdings, making the stock its 25th biggest holding. Capital Investment Services of America Inc.’s holdings in Starbucks were worth $17,841,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Hennessy Advisors Inc. increased its stake in Starbucks by 8.3% in the first quarter. Hennessy Advisors Inc. now owns 57,500 shares of the coffee company’s stock valued at $5,640,000 after purchasing an additional 4,400 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in Starbucks by 5.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 472,776 shares of the coffee company’s stock valued at $46,375,000 after purchasing an additional 25,809 shares during the last quarter. Tritonpoint Wealth LLC increased its stake in Starbucks by 1.3% in the first quarter. Tritonpoint Wealth LLC now owns 76,228 shares of the coffee company’s stock valued at $7,477,000 after purchasing an additional 962 shares during the last quarter. Azzad Asset Management Inc. ADV purchased a new position in Starbucks in the first quarter valued at approximately $3,079,000. Finally, Goldstone Financial Group LLC purchased a new position in shares of Starbucks during the first quarter worth approximately $217,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Stock Down 1.1%

NASDAQ:SBUX opened at $93.26 on Friday. The company has a market capitalization of $105.98 billion, a PE ratio of 30.08, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $117.46. The stock has a fifty day simple moving average of $85.17 and a 200-day simple moving average of $94.93.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Tuesday, April 29th. The coffee company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.10). The company had revenue of $8.76 billion for the quarter, compared to analysts’ expectations 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 for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.68 EPS. As a group, equities analysts anticipate that Starbucks Co. will post 2.99 earnings per share for the current year.

Analyst Ratings Changes

SBUX has been the topic of a number of research reports. Royal Bank of Canada raised their target price on shares of Starbucks from $95.00 to $100.00 and gave the stock an “outperform” rating in a research report on Wednesday. The Goldman Sachs Group raised their target price on shares of Starbucks from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Thursday. Guggenheim lowered their target price on shares of Starbucks from $95.00 to $83.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 29th. JPMorgan Chase & Co. lowered their target price on shares of Starbucks from $105.00 to $100.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 30th. Finally, Wells Fargo & Company lowered their target price on shares of Starbucks from $125.00 to $100.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 22nd. 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. Based on data from MarketBeat.com, Starbucks has an average rating of “Hold” and an average target price of $98.96.

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.