Avantax Planning Partners Inc. decreased its position in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 63.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,707 shares of the coffee company's stock after selling 8,231 shares during the period. Avantax Planning Partners Inc.'s holdings in Starbucks were worth $462,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in the company. Vanguard Capital Wealth Advisors purchased a new stake in shares of Starbucks during the 4th quarter worth approximately $285,000. OFI Invest Asset Management bought a new stake in Starbucks in the fourth quarter worth $9,497,000. Czech National Bank raised its stake in Starbucks by 6.2% during the first quarter. Czech National Bank now owns 260,898 shares of the coffee company's stock valued at $25,591,000 after purchasing an additional 15,132 shares in the last quarter. Treasurer of the State of North Carolina lifted its position in Starbucks by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 498,511 shares of the coffee company's stock valued at $45,489,000 after purchasing an additional 3,130 shares during the last quarter. Finally, Markel Group Inc. lifted its position in Starbucks by 2.8% during the fourth quarter. Markel Group Inc. now owns 617,318 shares of the coffee company's stock valued at $56,330,000 after purchasing an additional 17,000 shares during the last quarter. 72.29% of the stock is owned by institutional investors.
Starbucks Price Performance
Shares of NASDAQ SBUX opened at $94.44 on Friday. Starbucks Corporation has a 1-year low of $71.55 and a 1-year high of $117.46. The business has a fifty day moving average price of $87.93 and a 200 day moving average price of $94.28. The stock has a market capitalization of $107.32 billion, a P/E ratio of 34.22, a price-to-earnings-growth ratio of 4.84 and a beta of 1.02.
Starbucks (NASDAQ:SBUX - Get Free Report) last released 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). Starbucks had a net margin of 8.61% and a negative return on equity of 42.14%. The firm had revenue of $8.76 billion for the quarter, compared to analysts' expectations of $8.90 billion. During the same period in the previous year, the company posted $0.68 earnings per share. The business's quarterly revenue was up 2.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
Several analysts have recently issued reports on SBUX shares. Stifel Nicolaus decreased their target price on shares of Starbucks from $103.00 to $92.00 and set a "buy" rating on the stock in a research report on Wednesday, April 30th. Citigroup upped their price objective on Starbucks from $84.00 to $95.00 and gave the company a "neutral" rating in a research report on Thursday, June 12th. Cowen restated a "hold" rating on shares of Starbucks in a research report on Tuesday, June 24th. Guggenheim cut their price objective on shares of Starbucks from $95.00 to $83.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 29th. Finally, The Goldman Sachs Group reissued a "neutral" rating and issued a $95.00 price objective (up from $85.00) on shares of Starbucks in a research report on Thursday, June 12th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $98.23.
View Our Latest Stock Analysis on SBUX
Starbucks Profile
(
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.
Further Reading
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