New England Research & Management Inc. lessened its stake in Starbucks Co. (NASDAQ:SBUX - Free Report) by 50.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,387 shares of the coffee company's stock after selling 5,407 shares during the quarter. New England Research & Management Inc.'s holdings in Starbucks were worth $528,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Starbucks in the fourth quarter worth approximately $25,000. Graney & King LLC purchased a new position in Starbucks in the fourth quarter valued at approximately $26,000. Runnymede Capital Advisors Inc. bought a new stake in shares of Starbucks in the fourth quarter worth $27,000. Marshall Investment Management LLC bought a new stake in shares of Starbucks in the fourth quarter worth $30,000. Finally, Noble Wealth Management PBC bought a new stake in shares of Starbucks in the fourth quarter worth $30,000. 72.29% of the stock is owned by institutional investors and hedge funds.
Starbucks Stock Down 1.1%
SBUX stock traded down $1.06 during midday trading on Friday, hitting $93.26. 7,115,975 shares of the company traded hands, compared to its average volume of 11,050,895. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $117.46. The business has a 50 day simple moving average of $85.17 and a 200-day simple moving average of $94.88. The stock has a market capitalization of $105.98 billion, a price-to-earnings ratio of 30.08, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00.
Starbucks (NASDAQ:SBUX - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The coffee company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.10). The company had revenue of $8.76 billion during the quarter, compared to analyst estimates of $8.90 billion. Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. The company's revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.68 EPS. Equities research analysts forecast that Starbucks Co. will post 2.99 EPS for the current year.
Analyst Upgrades and Downgrades
A number of analysts recently issued reports on SBUX shares. UBS Group dropped their price target 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. Argus upgraded shares of Starbucks from a "hold" rating to a "buy" rating and set a $115.00 price target for the company in a research note on Tuesday, March 18th. Guggenheim lowered their target price on shares of Starbucks from $95.00 to $83.00 and set a "neutral" rating for the company in a research note on Tuesday, April 29th. The Goldman Sachs Group boosted their target price on shares of Starbucks from $85.00 to $95.00 and gave the company a "neutral" rating in a research note on Thursday. Finally, Wells Fargo & Company lowered their target price on shares of Starbucks from $125.00 to $100.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $98.96.
Check Out Our Latest Research Report on Starbucks
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.
See Also
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
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
