Trust Co. of Toledo NA OH Lowers Stake in Starbucks Co. (NASDAQ:SBUX)

Trust Co. of Toledo NA OH lowered its position in shares of Starbucks Co. (NASDAQ:SBUX) by 7.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,837 shares of the coffee company’s stock after selling 1,599 shares during the quarter. Trust Co. of Toledo NA OH’s holdings in Starbucks were worth $1,946,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Starbucks by 0.7% during 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 purchasing an additional 784,432 shares in the last quarter. Capital World Investors raised its position in shares of Starbucks by 20.1% during 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 buying an additional 9,174,682 shares during the last quarter. FMR LLC raised its position in shares of Starbucks by 27.0% during the fourth quarter. FMR LLC now owns 25,128,649 shares of the coffee company’s stock valued at $2,292,989,000 after buying an additional 5,348,790 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Starbucks by 2.3% during 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 buying an additional 548,245 shares during the last quarter. Finally, Wellington Management Group LLP raised its position in shares of Starbucks by 4.7% during the fourth quarter. Wellington Management Group LLP now owns 15,868,817 shares of the coffee company’s stock valued at $1,448,030,000 after buying an additional 718,880 shares during the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on SBUX shares. Wells Fargo & Company reduced their price objective 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. 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. Cowen cut shares of Starbucks from a “buy” rating to a “hold” rating in a research report on Thursday, May 29th. UBS Group reduced their price objective on shares of Starbucks from $105.00 to $90.00 and set a “neutral” rating on the stock in a research report on Monday, April 28th. Finally, Argus upgraded shares of Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price objective on the stock in a research report on Tuesday, March 18th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $98.96.

Starbucks Price Performance

NASDAQ:SBUX opened at $93.26 on Friday. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $117.46. The company has a 50-day moving average of $85.17 and a 200 day moving average of $94.88. The firm has a market cap 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 (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 analysts’ consensus estimates of $0.51 by ($0.10). Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. The business had revenue of $8.76 billion during the quarter, compared to analysts’ expectations of $8.90 billion. During the same period last year, the company earned $0.68 earnings per share. The firm’s revenue was up 2.3% compared to the same quarter last year. Sell-side analysts anticipate that Starbucks Co. will post 2.99 EPS for the current fiscal 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.