Madison Park Capital Advisors LLC Sells 5,373 Shares of Starbucks Corporation (NASDAQ:SBUX)

Madison Park Capital Advisors LLC cut its holdings in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 59.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,617 shares of the coffee company's stock after selling 5,373 shares during the period. Madison Park Capital Advisors LLC's holdings in Starbucks were worth $355,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SBUX. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Starbucks during the fourth quarter valued at approximately $25,000. Graney & King LLC purchased a new position in Starbucks during the fourth quarter valued at $26,000. Runnymede Capital Advisors Inc. bought a new stake in shares of Starbucks during the 4th quarter valued at $27,000. Noble Wealth Management PBC purchased a new stake in shares of Starbucks in the 4th quarter worth about $30,000. Finally, Kapitalo Investimentos Ltda bought a new position in shares of Starbucks in the 4th quarter worth about $32,000. Institutional investors own 72.29% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on SBUX shares. JPMorgan Chase & Co. lowered their target price on shares of Starbucks from $105.00 to $100.00 and set an "overweight" rating for the company in a report on Wednesday, April 30th. Barclays restated an "overweight" rating and set a $108.00 price target (up from $98.00) on shares of Starbucks in a report on Thursday. 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. TD Cowen reaffirmed a "hold" rating and issued a $90.00 target price on shares of Starbucks in a report on Thursday, May 29th. Finally, Jefferies Financial Group upgraded Starbucks from an "underperform" rating to a "hold" rating and set a $76.00 price target for the company in a research note on Wednesday, April 9th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, Starbucks currently has an average rating of "Hold" and a consensus target price of $98.76.

Starbucks Stock Up 0.8%

NASDAQ SBUX opened at $91.84 on Friday. The stock's 50-day moving average price is $86.59 and its 200-day moving average price is $94.39. The company has a market capitalization of $104.37 billion, a P/E ratio of 33.28, a price-to-earnings-growth ratio of 4.65 and a beta of 1.00. Starbucks Corporation has a 52 week low of $71.55 and a 52 week high of $117.46.

Starbucks (NASDAQ:SBUX - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The coffee company reported $0.41 earnings per share for the quarter, missing analysts' consensus estimates of $0.51 by ($0.10). The firm had revenue of $8.76 billion during the quarter, compared to the consensus estimate of $8.90 billion. Starbucks had a negative return on equity of 42.14% and a net margin of 8.61%. The business's revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.68 earnings per share. Research analysts anticipate that Starbucks Corporation will post 2.99 EPS for the current year.

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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