HS Management Partners LLC Sells 14,610 Shares of Starbucks Corporation $SBUX

Key Points

• HS Management Partners LLC reduced its stake in Starbucks Corporation by 3.8%, selling 14,610 shares, and now holds 367,319 shares valued at approximately $33.7 million.
• Recent analyst ratings show a consensus of "Moderate Buy" for Starbucks, with a target price averaging around $104.40.
• Starbucks reported earnings of $0.50 per share, missing estimates, while revenue rose 3.8% year-over-year, totaling $9.46 billion.

HS Management Partners LLC lessened its stake in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 3.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 367,319 shares of the coffee company's stock after selling 14,610 shares during the quarter. Starbucks makes up about 2.7% of HS Management Partners LLC's portfolio, making the stock its 20th biggest position. HS Management Partners LLC's holdings in Starbucks were worth $33,657,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. State of Alaska Department of Revenue boosted its position in Starbucks by 11.3% during the 2nd quarter. State of Alaska Department of Revenue now owns 148,129 shares of the coffee company's stock valued at $13,572,000 after acquiring an additional 15,090 shares in the last quarter. Cove Private Wealth LLC boosted its position in Starbucks by 22.7% during the 2nd quarter. Cove Private Wealth LLC now owns 4,236 shares of the coffee company's stock valued at $388,000 after acquiring an additional 784 shares in the last quarter. Patton Fund Management Inc. bought a new stake in Starbucks during the 2nd quarter valued at $241,000. Kathmere Capital Management LLC boosted its position in Starbucks by 12.7% during the 2nd quarter. Kathmere Capital Management LLC now owns 2,884 shares of the coffee company's stock valued at $264,000 after acquiring an additional 325 shares in the last quarter. Finally, True North Advisors LLC boosted its position in Starbucks by 34.1% during the 2nd quarter. True North Advisors LLC now owns 6,899 shares of the coffee company's stock valued at $632,000 after acquiring an additional 1,754 shares in the last quarter. Institutional investors own 72.29% of the company's stock.

Analyst Upgrades and Downgrades

SBUX has been the topic of several recent research reports. TD Cowen reaffirmed a "hold" rating and set a $95.00 target price on shares of Starbucks in a research report on Thursday. Loop Capital set a $165.00 price objective on Starbucks in a report on Tuesday, August 12th. Sanford C. Bernstein increased their price objective on Starbucks from $90.00 to $100.00 and gave the company an "outperform" rating in a report on Wednesday, July 2nd. Evercore ISI reiterated an "outperform" rating and set a $105.00 price objective (up previously from $95.00) on shares of Starbucks in a report on Tuesday, June 24th. Finally, Jefferies Financial Group lowered Starbucks from a "hold" rating to an "underperform" rating and set a $76.00 price objective for the company. in a report on Thursday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Starbucks currently has a consensus rating of "Moderate Buy" and a consensus target price of $104.40.

Starbucks Price Performance

Shares of SBUX stock opened at $83.39 on Friday. The firm has a market capitalization of $94.79 billion, a price-to-earnings ratio of 35.94, a price-to-earnings-growth ratio of 5.01 and a beta of 1.00. The business has a fifty day moving average of $88.48 and a 200 day moving average of $89.04. 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 (EPS) for the quarter, missing analysts' consensus estimates of $0.64 by ($0.14). The firm had revenue of $9.46 billion during the quarter, compared to analysts' expectations of $9.29 billion. Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%.The business's revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the business earned $0.93 EPS. As a group, equities research 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.

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