Resonant Capital Advisors LLC Has $419,000 Stock Position in Starbucks Corporation (NASDAQ:SBUX)

Resonant Capital Advisors LLC trimmed its holdings in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 77.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Teacher Retirement System of Texas grew its stake 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 buying an additional 151,524 shares in the last quarter. Revisor Wealth Management LLC purchased a new position in shares of Starbucks during the 1st quarter valued at $226,000. Arlington Trust Co LLC grew its position in shares of Starbucks by 104.6% during the 1st quarter. Arlington Trust Co LLC now owns 978 shares of the coffee company's stock valued at $96,000 after purchasing an additional 500 shares in the last quarter. Alley Investment Management Company LLC grew its position in shares of Starbucks by 2.1% during 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 purchasing an additional 3,149 shares in the last quarter. Finally, Pinnacle Financial Partners Inc grew its position in shares of Starbucks by 1.8% during the 1st quarter. Pinnacle Financial Partners Inc now owns 10,826 shares of the coffee company's stock valued at $1,054,000 after purchasing an additional 191 shares in the last quarter. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Starbucks Stock Down 0.8%

Shares of SBUX traded down $0.80 on Monday, hitting $93.64. The company's stock had a trading volume of 5,310,198 shares, compared to its average volume of 10,913,219. The firm's fifty day moving average price is $88.13 and its 200-day moving average price is $94.39. Starbucks Corporation has a fifty-two week low of $71.55 and a fifty-two week high of $117.46. The firm has a market capitalization of $106.41 billion, a price-to-earnings ratio of 33.93, a P/E/G ratio of 4.84 and a beta of 1.02.

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 analysts' consensus estimates of $0.51 by ($0.10). Starbucks had a negative return on equity of 42.14% and a net margin of 8.61%. 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 company earned $0.68 EPS. The company's revenue was up 2.3% compared to the same quarter last year. As a group, equities analysts predict that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SBUX has been the subject of a number of research analyst reports. Evercore ISI reaffirmed an "outperform" rating and set a $105.00 price objective (up from $95.00) on shares of Starbucks in a report on Tuesday, June 24th. Sanford C. Bernstein boosted their price target on shares of Starbucks from $90.00 to $100.00 and gave the company an "outperform" rating in a research report on Wednesday, July 2nd. Jefferies Financial Group upgraded shares of Starbucks from an "underperform" rating to a "hold" rating and set a $76.00 price objective on the stock in a report on Wednesday, April 9th. Argus upgraded shares of Starbucks from a "hold" rating to a "buy" rating and set a $115.00 target price on the stock in a research note on Tuesday, March 18th. Finally, Guggenheim dropped their target price on shares of Starbucks from $95.00 to $83.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 29th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and fifteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $98.23.

Starbucks 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.