Starbucks Corporation (NASDAQ:SBUX) Shares Sold by Pinnacle Bancorp Inc.

Pinnacle Bancorp Inc. lowered its stake in shares of Starbucks Corporation (NASDAQ:SBUX) by 24.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,386 shares of the coffee company’s stock after selling 1,417 shares during the period. Pinnacle Bancorp Inc.’s holdings in Starbucks were worth $430,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of SBUX. Vanguard Group Inc. raised its stake in Starbucks by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 111,106,209 shares of the coffee company’s stock valued at $10,138,442,000 after buying an additional 784,432 shares in the last quarter. Capital World Investors grew its holdings in Starbucks by 20.1% in the fourth 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 period. FMR LLC grew its holdings 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 worth $2,292,989,000 after purchasing an additional 5,348,790 shares during the period. Geode Capital Management LLC grew its position in Starbucks by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 24,826,001 shares of the coffee company’s stock valued at $2,259,516,000 after acquiring an additional 548,245 shares in the last quarter. Finally, Wellington Management Group LLP lifted its stake in shares of Starbucks by 4.7% in the fourth quarter. Wellington Management Group LLP now owns 15,868,817 shares of the coffee company’s stock worth $1,448,030,000 after acquiring an additional 718,880 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Stock Performance

SBUX stock opened at $91.50 on Wednesday. The company has a market capitalization of $103.98 billion, a price-to-earnings ratio of 33.15, a price-to-earnings-growth ratio of 4.70 and a beta of 1.00. The business’s 50 day moving average price is $86.17 and its two-hundred day moving average price is $94.46. Starbucks Corporation has a fifty-two week low of $71.55 and a fifty-two week 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 for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.10). Starbucks had a negative return on equity of 42.14% and a net margin of 8.61%. The firm had revenue of $8.76 billion during the quarter, compared to analysts’ expectations of $8.90 billion. During the same quarter in the previous year, the firm earned $0.68 earnings per share. Starbucks’s revenue was up 2.3% on a year-over-year basis. Sell-side analysts forecast that Starbucks Corporation will post 2.99 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SBUX. Baird R W downgraded Starbucks from a “strong-buy” rating to a “hold” rating in a report on Monday, April 7th. 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. Robert W. Baird reiterated a “neutral” rating and set a $85.00 price target (down previously from $114.00) on shares of Starbucks in a research note on Monday, April 7th. Wall Street Zen lowered shares of Starbucks from a “hold” rating to a “sell” rating in a research report on Thursday, May 22nd. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $95.00 target price (up previously from $85.00) on shares of Starbucks in a research note on Thursday, June 12th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Starbucks has an average rating of “Hold” and an average target price of $98.36.

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.