Means Investment CO. Inc. reduced its stake in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 16.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 19,817 shares of the coffee company's stock after selling 4,019 shares during the period. Means Investment CO. Inc.'s holdings in Starbucks were worth $1,944,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of the stock. Walter & Keenan Wealth Management LLC IN ADV raised its position in Starbucks by 4.0% during the first quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 5,978 shares of the coffee company's stock valued at $586,000 after purchasing an additional 231 shares during the period. Trifecta Capital Advisors LLC boosted its holdings in shares of Starbucks by 0.5% in the 1st quarter. Trifecta Capital Advisors LLC now owns 29,585 shares of the coffee company's stock worth $2,902,000 after purchasing an additional 156 shares during the period. Blue Trust Inc. increased its position in shares of Starbucks by 6.3% during the 1st quarter. Blue Trust Inc. now owns 13,256 shares of the coffee company's stock valued at $1,300,000 after purchasing an additional 781 shares during the last quarter. Autumn Glory Partners LLC raised its holdings in Starbucks by 2.8% during the 1st quarter. Autumn Glory Partners LLC now owns 11,582 shares of the coffee company's stock valued at $1,136,000 after buying an additional 314 shares during the period. Finally, Silver Oak Securities Incorporated lifted its position in Starbucks by 16.3% in the first quarter. Silver Oak Securities Incorporated now owns 5,245 shares of the coffee company's stock worth $513,000 after buying an additional 736 shares during the last quarter. Hedge funds and other institutional investors own 72.29% of the company's stock.
Analyst Ratings Changes
Several brokerages have recently weighed in on SBUX. Guggenheim reduced their target price on shares of Starbucks from $95.00 to $83.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 29th. Royal Bank Of Canada increased their price objective on shares of Starbucks from $95.00 to $100.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 11th. UBS Group decreased their price objective on shares of Starbucks from $105.00 to $90.00 and set a "neutral" rating for the company in a research note on Monday, April 28th. Cowen lowered Starbucks from a "buy" rating to a "hold" rating in a research report on Thursday, May 29th. Finally, BMO Capital Markets cut their target price on Starbucks from $115.00 to $100.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and fourteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $98.96.
View Our Latest Research Report on Starbucks
Starbucks Stock Performance
Starbucks stock opened at $92.28 on Friday. The company has a market cap of $104.87 billion, a P/E ratio of 33.43, a price-to-earnings-growth ratio of 4.70 and a beta of 1.00. Starbucks Corporation has a one year low of $71.55 and a one year high of $117.46. The business has a fifty day moving average of $85.73 and a two-hundred day moving average of $94.67.
Starbucks (NASDAQ:SBUX - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The coffee company reported $0.41 earnings per share 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 analysts' expectations of $8.90 billion. Starbucks had a net margin of 8.61% and a negative return on equity of 42.14%. The business's revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.68 earnings per share. Sell-side analysts predict that Starbucks Corporation will post 2.99 EPS for the current year.
Starbucks Company Profile
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding SBUX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Starbucks Corporation (NASDAQ:SBUX - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Starbucks, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Starbucks wasn't on the list.
While Starbucks currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
