Loring Wolcott & Coolidge Fiduciary Advisors LLP MA cut its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 3.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,551,733 shares of the coffee company’s stock after selling 54,464 shares during the period. Starbucks accounts for approximately 1.8% of Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s investment portfolio, making the stock its 19th biggest holding. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA owned about 0.12% of Starbucks worth $115,356,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Lake Point Wealth Management purchased a new stake in shares of Starbucks during the fourth quarter valued at $25,000. Veritas Investment Management LLP purchased a new stake in shares of Starbucks during the fourth quarter valued at $28,000. Highwater Wealth Management LLC purchased a new stake in shares of Starbucks during the fourth quarter valued at $28,000. Mark Sheptoff Financial Planning LLC purchased a new stake in shares of Starbucks during the fourth quarter valued at $32,000. Finally, Clean Yield Group purchased a new stake in shares of Starbucks during the fourth quarter valued at $33,000. 73.34% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ:SBUX opened at $76.06 on Friday. Starbucks Co. has a one year low of $47.37 and a one year high of $76.95. The company has a debt-to-equity ratio of 7.73, a quick ratio of 1.16 and a current ratio of 1.41. The firm has a market capitalization of $94.59 billion, a price-to-earnings ratio of 31.43, a price-to-earnings-growth ratio of 2.18 and a beta of 0.51.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Thursday, January 24th. The coffee company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.65 by $0.10. Starbucks had a net margin of 11.98% and a return on equity of 193.00%. The company had revenue of $6.63 billion for the quarter, compared to analyst estimates of $6.49 billion. During the same period in the prior year, the company earned $0.65 earnings per share. The firm’s revenue was up 9.2% on a year-over-year basis. Sell-side analysts anticipate that Starbucks Co. will post 2.72 earnings per share for the current year.

In other Starbucks news, EVP Vivek C. Varma sold 73,242 shares of the company’s stock in a transaction on Friday, February 1st. The shares were sold at an average price of $68.36, for a total value of $5,006,823.12. Following the sale, the executive vice president now directly owns 140,882 shares of the company’s stock, valued at $9,630,693.52. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Clifford Burrows sold 152,634 shares of the company’s stock in a transaction on Tuesday, January 29th. The shares were sold at an average price of $67.22, for a total transaction of $10,260,057.48. Following the completion of the sale, the insider now directly owns 311,083 shares in the company, valued at $20,910,999.26. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 565,806 shares of company stock worth $38,789,988. 3.98% of the stock is owned by corporate insiders.

SBUX has been the topic of a number of research analyst reports. UBS Group lowered shares of Starbucks from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $72.00 to $78.00 in a report on Monday, April 8th. Jefferies Financial Group boosted their price objective on shares of Starbucks from $76.00 to $89.00 and gave the company a “buy” rating in a report on Thursday. Piper Jaffray Companies boosted their price objective on shares of Starbucks from $60.00 to $70.00 and gave the company a “neutral” rating in a report on Wednesday, April 10th. BidaskClub raised shares of Starbucks from a “buy” rating to a “strong-buy” rating in a report on Friday, February 15th. Finally, BMO Capital Markets dropped their price objective on shares of Starbucks to $60.00 and set a “market perform” rating on the stock in a report on Friday, January 11th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and fifteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $69.08.

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Starbucks Profile

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in four segments: Americas; China/Asia Pacific; Europe, Middle East, and Africa; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, iced tea, and food and snacks; 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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