Resonant Capital Advisors LLC Sells 14,847 Shares of Starbucks Corporation (NASDAQ:SBUX)

Resonant Capital Advisors LLC reduced its position in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 77.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,269 shares of the coffee company's stock after selling 14,847 shares during the period. Resonant Capital Advisors LLC's holdings in Starbucks were worth $419,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Teacher Retirement System of Texas increased its position in Starbucks by 226.7% in the 1st quarter. Teacher Retirement System of Texas now owns 218,367 shares of the coffee company's stock valued at $21,420,000 after acquiring an additional 151,524 shares in the last quarter. Revisor Wealth Management LLC acquired a new stake in Starbucks in the 1st quarter valued at about $226,000. Arlington Trust Co LLC increased its position in Starbucks by 104.6% in the 1st quarter. Arlington Trust Co LLC now owns 978 shares of the coffee company's stock valued at $96,000 after acquiring an additional 500 shares in the last quarter. Alley Investment Management Company LLC increased its position in Starbucks by 2.1% in the 1st quarter. Alley Investment Management Company LLC now owns 150,210 shares of the coffee company's stock valued at $14,734,000 after acquiring an additional 3,149 shares in the last quarter. Finally, Pinnacle Financial Partners Inc increased its position in Starbucks by 1.8% in the 1st quarter. Pinnacle Financial Partners Inc now owns 10,826 shares of the coffee company's stock valued at $1,054,000 after acquiring an additional 191 shares in the last quarter. 72.29% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on SBUX shares. Evercore ISI restated an "outperform" rating and issued a $105.00 price objective (up previously from $95.00) on shares of Starbucks in a research report on Tuesday, June 24th. CICC Research assumed coverage on shares of Starbucks in a research report on Monday, June 30th. They set an "outperform" rating and a $100.00 price target for the company. Citigroup lifted their price target on shares of Starbucks from $84.00 to $95.00 and gave the stock a "neutral" rating in a research report on Thursday, June 12th. Baird R W cut shares of Starbucks from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 7th. Finally, The Goldman Sachs Group reiterated a "neutral" rating and set a $95.00 price target (up previously from $85.00) on shares of Starbucks in a research report on Thursday, June 12th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, Starbucks has a consensus rating of "Hold" and an average price target of $98.23.

Starbucks Price Performance

Shares of Starbucks stock traded up $0.26 on Friday, hitting $94.44. The company had a trading volume of 3,557,273 shares, compared to its average volume of 10,935,717. The firm has a market capitalization of $107.32 billion, a P/E ratio of 34.22, a P/E/G ratio of 4.84 and a beta of 1.02. Starbucks Corporation has a twelve month low of $71.55 and a twelve month high of $117.46. The stock has a 50-day moving average of $87.93 and a 200-day moving average of $94.35.

Starbucks (NASDAQ:SBUX - Get Free Report) last released its quarterly earnings results 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 company had revenue of $8.76 billion during the quarter, compared to analyst estimates of $8.90 billion. Starbucks had a net margin of 8.61% and a negative return on equity of 42.14%. The firm's quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.68 EPS. Equities analysts predict that Starbucks Corporation will post 2.99 EPS 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.