Wealthcare Advisory Partners LLC trimmed its stake in Starbucks Co. (NASDAQ:SBUX – Free Report) by 5.8% during the first quarter, Holdings Channel reports. The fund owned 10,961 shares of the coffee company’s stock after selling 676 shares during the quarter. Wealthcare Advisory Partners LLC’s holdings in Starbucks were worth $1,075,000 as of its most recent filing with the SEC.
A number of other institutional investors have also made changes to their positions in SBUX. University of Texas Texas AM Investment Management Co. bought a new position in shares of Starbucks in the 4th quarter valued at approximately $25,000. Graney & King LLC bought a new position in Starbucks in the 4th quarter worth approximately $26,000. Runnymede Capital Advisors Inc. bought a new position in Starbucks in the 4th quarter worth approximately $27,000. Marshall Investment Management LLC bought a new position in Starbucks in the 4th quarter worth approximately $30,000. Finally, Noble Wealth Management PBC bought a new position in Starbucks in the 4th quarter worth approximately $30,000. 72.29% of the stock is owned by institutional investors.
Starbucks Price Performance
Shares of SBUX stock opened at $94.32 on Friday. The stock’s fifty day simple moving average is $84.89 and its 200 day simple moving average is $94.98. The firm has a market cap of $107.19 billion, a price-to-earnings ratio of 30.43, a P/E/G ratio of 3.59 and a beta of 1.00. Starbucks Co. has a one year low of $71.55 and a one year high of $117.46.
Starbucks (NASDAQ:SBUX – Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The coffee company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.10). The company had revenue of $8.76 billion during the quarter, compared to analyst estimates of $8.90 billion. Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. Starbucks’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.68 EPS. On average, research analysts anticipate that Starbucks Co. will post 2.99 earnings per share for the current year.
Analysts Set New Price Targets
Several brokerages have commented on SBUX. Argus raised Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price target on the stock in a research report on Tuesday, March 18th. Cowen downgraded Starbucks from a “buy” rating to a “hold” rating in a research report on Thursday, May 29th. Jefferies Financial Group raised Starbucks from an “underperform” rating to a “hold” rating and set a $76.00 price target on the stock in a research report on Wednesday, April 9th. Wells Fargo & Company dropped their price target on Starbucks from $125.00 to $100.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 22nd. Finally, BMO Capital Markets dropped their price target on Starbucks from $115.00 to $100.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 30th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, Starbucks has a consensus rating of “Hold” and a consensus price target of $98.96.
Read Our Latest Stock Report on Starbucks
About Starbucks
(Free Report)
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.
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