Money Concepts Capital Corp Sells 23,084 Shares of Starbucks Corporation (NASDAQ:SBUX)

Money Concepts Capital Corp cut its holdings in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 47.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 25,829 shares of the coffee company's stock after selling 23,084 shares during the period. Money Concepts Capital Corp's holdings in Starbucks were worth $2,534,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in SBUX. Brighton Jones LLC grew its holdings in Starbucks by 86.5% during the fourth quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company's stock worth $16,126,000 after purchasing an additional 81,952 shares during the period. Y Intercept Hong Kong Ltd bought a new position in shares of Starbucks during the 4th quarter worth approximately $389,000. Advisor OS LLC increased its holdings in shares of Starbucks by 3.2% during the 4th quarter. Advisor OS LLC now owns 4,548 shares of the coffee company's stock worth $415,000 after acquiring an additional 139 shares during the last quarter. Checchi Capital Advisers LLC raised its stake in Starbucks by 1.7% in the 4th quarter. Checchi Capital Advisers LLC now owns 11,789 shares of the coffee company's stock valued at $1,076,000 after acquiring an additional 195 shares during the period. Finally, Cable Hill Partners LLC boosted its position in Starbucks by 8.0% during the fourth quarter. Cable Hill Partners LLC now owns 12,027 shares of the coffee company's stock worth $1,097,000 after purchasing an additional 889 shares during the period. Institutional investors own 72.29% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Royal Bank Of Canada lifted their target price on Starbucks from $95.00 to $100.00 and gave the stock an "outperform" rating in a report on Wednesday, June 11th. Jefferies Financial Group raised Starbucks from an "underperform" rating to a "hold" rating and set a $76.00 price objective for the company in a research note on Wednesday, April 9th. Barclays restated an "overweight" rating and issued a $108.00 price objective (up from $98.00) on shares of Starbucks in a report on Thursday. The Goldman Sachs Group reiterated a "neutral" rating and issued a $95.00 price target (up previously from $85.00) on shares of Starbucks in a research report on Thursday, June 12th. Finally, Argus upgraded Starbucks from a "hold" rating to a "buy" rating and set a $115.00 price objective for the company in a research report on Tuesday, March 18th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $98.76.

Starbucks Stock Performance

Starbucks stock opened at $91.84 on Friday. The stock has a market cap of $104.37 billion, a P/E ratio of 33.28, a PEG ratio of 4.65 and a beta of 1.00. Starbucks Corporation has a fifty-two week low of $71.55 and a fifty-two week high of $117.46. The firm's fifty day moving average price is $86.59 and its 200-day moving average price is $94.39.

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 (EPS) for the quarter, missing analysts' consensus estimates of $0.51 by ($0.10). The company had revenue of $8.76 billion for 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 was up 2.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.68 earnings per share. Sell-side analysts predict that Starbucks Corporation will post 2.99 earnings per share 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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