Bartlett & CO. Wealth Management LLC Sells 3,620 Shares of Starbucks Corporation $SBUX

Key Points

• Bartlett & CO. Wealth Management LLC has reduced its stake in Starbucks by 5.4%, selling 3,620 shares, and now holds 63,828 shares valued at approximately $5.85 million.
• Analysts have mixed ratings for Starbucks, with one Strong Buy, fifteen Buy, eight Hold, and two Sell ratings, and an average price target of $104.00.
• Starbucks reported earnings of $0.50 per share for the last quarter, missing estimates of $0.64, despite revenue increasing by 3.8% year-over-year to $9.46 billion.

Bartlett & CO. Wealth Management LLC lowered its stake in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 5.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,828 shares of the coffee company's stock after selling 3,620 shares during the period. Bartlett & CO. Wealth Management LLC's holdings in Starbucks were worth $5,849,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Hughes Financial Services LLC bought a new stake in shares of Starbucks during the first quarter worth about $27,000. CBIZ Investment Advisory Services LLC boosted its position in Starbucks by 125.2% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company's stock worth $28,000 after buying an additional 159 shares during the period. McClarren Financial Advisors Inc. acquired a new stake in Starbucks during the 1st quarter worth approximately $29,000. Nova Wealth Management Inc. boosted its position in Starbucks by 285.4% during the 1st quarter. Nova Wealth Management Inc. now owns 316 shares of the coffee company's stock worth $31,000 after buying an additional 234 shares during the period. Finally, Activest Wealth Management raised its stake in shares of Starbucks by 78.0% during the first quarter. Activest Wealth Management now owns 331 shares of the coffee company's stock valued at $32,000 after acquiring an additional 145 shares during the last quarter. Institutional investors and hedge funds own 72.29% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on SBUX shares. TD Cowen reaffirmed a "hold" rating and set a $95.00 price target on shares of Starbucks in a research note on Thursday, September 25th. TD Securities reiterated a "hold" rating and issued a $90.00 price target on shares of Starbucks in a research report on Monday, June 23rd. Robert W. Baird upgraded Starbucks from a "neutral" rating to an "outperform" rating and upped their price target for the company from $100.00 to $115.00 in a research report on Tuesday, August 12th. Jefferies Financial Group lowered Starbucks from a "hold" rating to an "underperform" rating and set a $76.00 price objective on the stock. in a research note on Thursday, July 17th. Finally, Wells Fargo & Company lifted their price objective on Starbucks from $100.00 to $105.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $104.00.

Starbucks Price Performance

Shares of NASDAQ:SBUX opened at $84.60 on Wednesday. The company has a market capitalization of $96.16 billion, a price-to-earnings ratio of 36.47, a P/E/G ratio of 5.15 and a beta of 1.00. The business's 50-day moving average is $88.09 and its 200-day moving average is $88.80. Starbucks Corporation has a 1 year low of $75.50 and a 1 year high of $117.46.

Starbucks (NASDAQ:SBUX - Get Free Report) last issued its earnings results on Tuesday, July 29th. The coffee company reported $0.50 earnings per share for the quarter, missing analysts' consensus estimates of $0.64 by ($0.14). The business had revenue of $9.46 billion during the quarter, compared to the consensus estimate of $9.29 billion. Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%.The company's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.93 earnings per share. Analysts anticipate that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Company 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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