Mmbg Investment Advisors CO. Sells 6,946 Shares of Starbucks Corporation (NASDAQ:SBUX)

Mmbg Investment Advisors CO. cut its holdings in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 11.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 54,017 shares of the coffee company's stock after selling 6,946 shares during the period. Mmbg Investment Advisors CO.'s holdings in Starbucks were worth $5,299,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of SBUX. University of Texas Texas AM Investment Management Co. acquired a new position in Starbucks during the 4th quarter worth $25,000. Graney & King LLC acquired a new position in Starbucks during the 4th quarter worth $26,000. Runnymede Capital Advisors Inc. acquired a new position in Starbucks during the 4th quarter worth $27,000. Noble Wealth Management PBC acquired a new position in Starbucks during the 4th quarter worth $30,000. Finally, Kapitalo Investimentos Ltda acquired a new position in Starbucks during the 4th quarter worth $32,000. 72.29% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SBUX. Barclays reissued an "overweight" rating and set a $108.00 target price (up previously from $98.00) on shares of Starbucks in a research report on Thursday. Baird R W lowered shares of Starbucks from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 7th. TD Cowen reissued a "hold" rating and set a $90.00 target price on shares of Starbucks in a research report on Thursday, May 29th. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $95.00 price objective (up previously from $85.00) on shares of Starbucks in a research report on Thursday, June 12th. Finally, Evercore ISI reaffirmed an "outperform" rating and set a $105.00 price objective (up previously from $95.00) on shares of Starbucks in a research report on Tuesday, June 24th. Three equities research 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. According to data from MarketBeat, Starbucks presently has an average rating of "Hold" and a consensus target price of $98.76.

Starbucks Trading Up 0.3%

NASDAQ SBUX opened at $92.11 on Friday. The firm has a market cap of $104.67 billion, a price-to-earnings ratio of 33.37, a PEG ratio of 4.72 and a beta of 1.00. The company has a 50 day moving average of $86.80 and a 200-day moving average of $94.32. Starbucks Corporation has a 1-year low of $71.55 and a 1-year high of $117.46.

Starbucks (NASDAQ:SBUX - Get Free Report) last posted 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 for 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%. The business's quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.68 EPS. On average, analysts forecast that Starbucks Corporation will post 2.99 earnings per share for the current year.

About Starbucks

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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