Starbucks Corporation (NASDAQ:SBUX) Position Lessened by Boomfish Wealth Group LLC

Boomfish Wealth Group LLC trimmed its position in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 73.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,036 shares of the coffee company's stock after selling 11,299 shares during the quarter. Boomfish Wealth Group LLC's holdings in Starbucks were worth $396,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Starbucks in the fourth quarter valued at about $1,244,812,000. Capital World Investors grew its stake in shares of Starbucks by 20.1% in the fourth quarter. Capital World Investors now owns 54,924,230 shares of the coffee company's stock valued at $5,011,796,000 after buying an additional 9,174,682 shares in the last quarter. FMR LLC grew its stake in shares of Starbucks by 27.0% in the fourth quarter. FMR LLC now owns 25,128,649 shares of the coffee company's stock valued at $2,292,989,000 after buying an additional 5,348,790 shares in the last quarter. Capital Research Global Investors grew its stake in shares of Starbucks by 167.6% in the fourth quarter. Capital Research Global Investors now owns 5,690,198 shares of the coffee company's stock valued at $519,230,000 after buying an additional 3,563,942 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Starbucks in the fourth quarter valued at about $284,283,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. TD Securities reiterated a "hold" rating and issued a $90.00 target price on shares of Starbucks in a research note on Wednesday, June 11th. The Goldman Sachs Group reiterated a "neutral" rating and issued a $95.00 target price (up previously from $85.00) on shares of Starbucks in a research note on Thursday, June 12th. Wells Fargo & Company lowered their target price on Starbucks from $125.00 to $100.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Jefferies Financial Group upgraded Starbucks from an "underperform" rating to a "hold" rating and set a $76.00 price objective for the company in a research note on Wednesday, April 9th. Finally, Cowen lowered Starbucks from a "buy" rating to a "hold" rating in a research note on Thursday, May 29th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, Starbucks presently has a consensus rating of "Hold" and an average price target of $98.96.

Starbucks Stock Up 0.7%

Shares of SBUX traded up $0.67 during mid-day trading on Wednesday, hitting $92.26. The stock had a trading volume of 1,519,960 shares, compared to its average volume of 10,978,354. The company has a market cap of $104.84 billion, a PE ratio of 33.41, a PEG ratio of 4.69 and a beta of 1.00. The company's fifty day simple moving average is $85.50 and its two-hundred day simple moving average is $94.75. Starbucks Corporation has a fifty-two week low of $71.55 and a fifty-two week high of $117.46.

Starbucks (NASDAQ:SBUX - Get Free Report) last issued its 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 firm had revenue of $8.76 billion during the quarter, compared to analyst estimates of $8.90 billion. Starbucks had a negative return on equity of 42.14% and a net margin of 8.61%. Starbucks's revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.68 EPS. Equities analysts expect that Starbucks Corporation will post 2.99 earnings per share 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.