New England Research & Management Inc. Sells 5,407 Shares of Starbucks Co. (NASDAQ:SBUX)

New England Research & Management Inc. reduced its holdings in Starbucks Co. (NASDAQ:SBUX) by 50.1% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,387 shares of the coffee company’s stock after selling 5,407 shares during the quarter. New England Research & Management Inc.’s holdings in Starbucks were worth $528,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Starbucks by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 111,106,209 shares of the coffee company’s stock worth $10,138,442,000 after acquiring an additional 784,432 shares during the last quarter. Capital World Investors increased its position in shares of Starbucks by 20.1% during the 4th quarter. Capital World Investors now owns 54,924,230 shares of the coffee company’s stock valued at $5,011,796,000 after purchasing an additional 9,174,682 shares during the last quarter. FMR LLC increased its position in shares of Starbucks by 27.0% during the 4th quarter. FMR LLC now owns 25,128,649 shares of the coffee company’s stock valued at $2,292,989,000 after purchasing an additional 5,348,790 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Starbucks by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 24,826,001 shares of the coffee company’s stock valued at $2,259,516,000 after purchasing an additional 548,245 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in shares of Starbucks by 4.7% during the 4th quarter. Wellington Management Group LLP now owns 15,868,817 shares of the coffee company’s stock valued at $1,448,030,000 after purchasing an additional 718,880 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on SBUX shares. Robert W. Baird reiterated a “neutral” rating and set a $85.00 price objective (down from $114.00) on shares of Starbucks in a research report on Monday, April 7th. UBS Group reduced their price objective on Starbucks from $105.00 to $90.00 and set a “neutral” rating on the stock in a research report on Monday, April 28th. JPMorgan Chase & Co. reduced their price objective on Starbucks from $105.00 to $100.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 30th. TD Cowen reiterated a “hold” rating and set a $90.00 price objective on shares of Starbucks in a research report on Thursday, May 29th. Finally, Guggenheim reduced their price objective on Starbucks from $95.00 to $83.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 29th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $98.96.

Starbucks Stock Performance

NASDAQ SBUX opened at $93.26 on Friday. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $117.46. The stock has a 50 day simple moving average of $85.17 and a two-hundred day simple moving average of $94.93. The stock has a market cap of $105.98 billion, a P/E ratio of 30.08, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Tuesday, April 29th. The coffee company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.10). The business 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 44.97% and a net margin of 9.73%. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.68 EPS. Sell-side analysts predict that Starbucks Co. will post 2.99 earnings per share for the current 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.