Arlington Partners LLC Cuts Stock Holdings in Starbucks Corporation (NASDAQ:SBUX)

Arlington Partners LLC decreased its holdings in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 9.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,371 shares of the coffee company's stock after selling 4,116 shares during the quarter. Arlington Partners LLC's holdings in Starbucks were worth $3,960,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Arizona State Retirement System lifted its position in Starbucks by 0.8% in the fourth quarter. Arizona State Retirement System now owns 327,459 shares of the coffee company's stock valued at $29,881,000 after purchasing an additional 2,722 shares during the last quarter. West Michigan Advisors LLC bought a new stake in Starbucks in the fourth quarter valued at approximately $265,000. Wernau Asset Management Inc. bought a new stake in Starbucks in the fourth quarter valued at approximately $258,000. Vanguard Capital Wealth Advisors bought a new stake in Starbucks in the fourth quarter valued at approximately $285,000. Finally, OFI Invest Asset Management bought a new stake in Starbucks in the fourth quarter valued at approximately $9,497,000. Institutional investors own 72.29% of the company's stock.

Starbucks Stock Performance

Shares of Starbucks stock opened at $91.50 on Wednesday. The stock has a market cap 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 stock has a 50 day moving average price of $86.17 and a 200-day moving average price of $94.46. Starbucks Corporation 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 earnings results 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 42.14% and a net margin of 8.61%. The company had revenue of $8.76 billion during the quarter, compared to analysts' expectations of $8.90 billion. During the same quarter last year, the firm posted $0.68 EPS. Starbucks's revenue for the quarter was up 2.3% compared to the same quarter last year. Sell-side analysts predict that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have weighed in on SBUX shares. UBS Group lowered their price objective on Starbucks from $105.00 to $90.00 and set a "neutral" rating for the company in a research report on Monday, April 28th. The Goldman Sachs Group reissued a "neutral" rating and set a $95.00 target price (up from $85.00) on shares of Starbucks in a research note on Thursday, June 12th. Baird R W cut Starbucks from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 7th. Royal Bank Of Canada upped their price target on Starbucks from $95.00 to $100.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 11th. Finally, Evercore ISI upped their price target on Starbucks from $95.00 to $105.00 and gave the stock an "outperform" rating in a research note on Tuesday. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $98.36.

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.

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