Mogy Joel R Investment Counsel Inc. lessened its holdings in Starbucks Co. (NASDAQ:SBUX - Free Report) by 71.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 67,511 shares of the coffee company's stock after selling 171,252 shares during the period. Mogy Joel R Investment Counsel Inc.'s holdings in Starbucks were worth $6,622,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Net Worth Advisory Group purchased a new stake in shares of Starbucks during the first quarter worth $561,000. GPS Wealth Strategies Group LLC raised its holdings in shares of Starbucks by 83.2% during the first quarter. GPS Wealth Strategies Group LLC now owns 4,273 shares of the coffee company's stock worth $419,000 after acquiring an additional 1,940 shares in the last quarter. Simon Quick Advisors LLC raised its holdings in shares of Starbucks by 47.2% during the first quarter. Simon Quick Advisors LLC now owns 6,398 shares of the coffee company's stock worth $628,000 after acquiring an additional 2,051 shares in the last quarter. Rowlandmiller & PARTNERS.ADV raised its holdings in shares of Starbucks by 0.9% during the first quarter. Rowlandmiller & PARTNERS.ADV now owns 14,804 shares of the coffee company's stock worth $1,452,000 after acquiring an additional 135 shares in the last quarter. Finally, CX Institutional raised its holdings in shares of Starbucks by 1.8% during the first quarter. CX Institutional now owns 7,867 shares of the coffee company's stock worth $772,000 after acquiring an additional 138 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company's stock.
Wall Street Analyst Weigh In
Several analysts recently issued reports on the company. Baird R W lowered Starbucks from a "strong-buy" rating to a "hold" rating in a report on Monday, April 7th. Robert W. Baird restated a "neutral" rating and set a $85.00 target price (down from $114.00) on shares of Starbucks in a report on Monday, April 7th. TD Cowen restated a "hold" rating and set a $90.00 target price on shares of Starbucks in a report on Thursday, May 29th. UBS Group cut their target price on Starbucks from $105.00 to $90.00 and set a "neutral" rating on the stock in a report on Monday, April 28th. Finally, JPMorgan Chase & Co. cut their target price on Starbucks from $105.00 to $100.00 and set an "overweight" rating on the stock in a report on Wednesday, April 30th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $98.96.
View Our Latest Stock Report on Starbucks
Starbucks Trading Down 1.1%
SBUX stock traded down $1.06 during trading on Friday, reaching $93.26. 7,115,975 shares of the stock were exchanged, compared to its average volume of 11,035,461. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $117.46. The company has a market capitalization of $105.98 billion, a P/E ratio of 30.08, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00. The stock has a 50 day simple moving average of $85.17 and a 200-day simple moving average of $94.93.
Starbucks (NASDAQ:SBUX - Get Free Report) last released its 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). Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. The firm had revenue of $8.76 billion for the quarter, compared to analyst estimates of $8.90 billion. During the same period last year, the business earned $0.68 earnings per share. The firm's quarterly revenue was up 2.3% compared to the same quarter last year. Equities analysts predict that Starbucks Co. will post 2.99 EPS for the current year.
Starbucks 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.
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