InTrack Investment Management Inc Decreases Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

InTrack Investment Management Inc reduced its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 44.5% during the 1st quarter, HoldingsChannel reports. The firm owned 2,760 shares of the coffee company’s stock after selling 2,215 shares during the quarter. InTrack Investment Management Inc’s holdings in Starbucks were worth $271,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Starbucks during the 4th quarter worth $25,000. Graney & King LLC purchased a new position in shares of Starbucks during the 4th quarter worth $26,000. Collier Financial acquired a new stake in shares of Starbucks during the fourth quarter valued at about $27,000. Runnymede Capital Advisors Inc. purchased a new stake in Starbucks in the fourth quarter valued at approximately $27,000. Finally, Marshall Investment Management LLC acquired a new position in Starbucks during the fourth quarter worth $30,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. TD Cowen reiterated a “hold” rating and issued a $90.00 price objective on shares of Starbucks in a report on Thursday, May 29th. The Goldman Sachs Group lowered Starbucks from a “buy” rating to a “neutral” rating and decreased their target price for the company from $103.00 to $85.00 in a report on Wednesday, April 30th. Robert W. Baird reissued a “neutral” rating and issued a $85.00 price objective (down from $114.00) on shares of Starbucks in a research report on Monday, April 7th. Wall Street Zen downgraded Starbucks from a “hold” rating to a “sell” rating in a report on Thursday, May 22nd. Finally, Guggenheim cut their price target on shares of Starbucks from $95.00 to $83.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 29th. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and thirteen 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 $97.92.

Starbucks Stock Up 0.8%

NASDAQ:SBUX opened at $91.43 on Wednesday. The firm’s fifty day simple moving average is $84.34 and its 200-day simple moving average is $95.03. The stock has a market cap of $103.90 billion, a PE ratio of 29.49, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $117.46.

Starbucks (NASDAQ:SBUX) last released 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). Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. The company had revenue of $8.76 billion for the quarter, compared to analysts’ expectations of $8.90 billion. During the same period in the prior year, the firm posted $0.68 EPS. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. Equities analysts anticipate that Starbucks Co. will post 2.99 earnings per share for the current 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.