Marietta Wealth Management LLC Sells 16,371 Shares of Starbucks Corporation (NASDAQ:SBUX)

Marietta Wealth Management LLC decreased its position in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 20.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 64,706 shares of the coffee company's stock after selling 16,371 shares during the period. Marietta Wealth Management LLC's holdings in Starbucks were worth $6,347,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Starbucks by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 111,106,209 shares of the coffee company's stock valued at $10,138,442,000 after acquiring an additional 784,432 shares during the last quarter. Capital World Investors boosted its holdings in 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 acquiring an additional 9,174,682 shares during the last quarter. FMR LLC boosted its holdings in 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 acquiring an additional 5,348,790 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Starbucks by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 24,826,001 shares of the coffee company's stock valued at $2,259,516,000 after acquiring an additional 548,245 shares during the last quarter. Finally, Wellington Management Group LLP boosted its holdings in Starbucks by 4.7% during the fourth quarter. Wellington Management Group LLP now owns 15,868,817 shares of the coffee company's stock worth $1,448,030,000 after buying an additional 718,880 shares during the last quarter. Institutional investors own 72.29% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SBUX. Citigroup raised their target price on Starbucks from $84.00 to $95.00 and gave the stock a "neutral" rating in a report on Thursday, June 12th. Argus upgraded Starbucks from a "hold" rating to a "buy" rating and set a $115.00 target price on the stock in a report on Tuesday, March 18th. Guggenheim reduced their target price on Starbucks from $95.00 to $83.00 and set a "neutral" rating on the stock in a report on Tuesday, April 29th. Cowen cut Starbucks from a "buy" rating to a "hold" rating in a report on Thursday, May 29th. Finally, The Goldman Sachs Group restated a "neutral" rating and set a $95.00 target price (up previously from $85.00) on shares of Starbucks in a report on Thursday, June 12th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and fourteen have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $98.96.

Starbucks Stock Performance

Shares of Starbucks stock opened at $93.12 on Friday. The business's 50 day simple moving average is $85.88 and its 200 day simple moving average is $94.61. Starbucks Corporation has a 52-week low of $71.55 and a 52-week high of $117.46. The firm has a market cap of $105.82 billion, a PE ratio of 33.74, a P/E/G ratio of 4.70 and a beta of 1.00.

Starbucks (NASDAQ:SBUX - Get Free Report) last announced its earnings results on Tuesday, April 29th. The coffee company reported $0.41 earnings per share (EPS) 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 analyst estimates of $8.90 billion. Starbucks had a net margin of 8.61% and a negative return on equity of 42.14%. The firm's quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.68 EPS. As a group, equities research analysts predict 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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