Starbucks Corporation (NASDAQ:SBUX) Stock Position Cut by Resonant Capital Advisors LLC

Resonant Capital Advisors LLC cut its stake in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 77.7% during the 1st quarter, according to its most recent filing with the SEC. 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 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of SBUX. University of Texas Texas AM Investment Management Co. purchased a new position in Starbucks in the 4th quarter valued at about $25,000. Graney & King LLC acquired a new position in shares of Starbucks in the fourth quarter worth about $26,000. Runnymede Capital Advisors Inc. purchased a new position in Starbucks in the fourth quarter valued at about $27,000. Kapitalo Investimentos Ltda purchased a new position in Starbucks in the fourth quarter valued at about $32,000. Finally, Ball & Co Wealth Management Inc. acquired a new stake in Starbucks during the 4th quarter valued at approximately $41,000. Institutional investors and hedge funds own 72.29% of the company's stock.

Starbucks Stock Performance

Shares of Starbucks stock traded up $0.26 during trading on Friday, hitting $94.44. 3,557,273 shares of the stock were exchanged, compared to its average volume of 10,935,717. Starbucks Corporation has a 12 month low of $71.55 and a 12 month high of $117.46. The stock's fifty day moving average is $87.93 and its 200 day moving average is $94.31. The stock has a market cap of $107.32 billion, a PE ratio of 34.22, a P/E/G ratio of 4.84 and a beta of 1.02.

Starbucks (NASDAQ:SBUX - Get Free Report) last posted its earnings results on Tuesday, April 29th. The coffee company reported $0.41 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $8.90 billion. During the same quarter last year, the company posted $0.68 EPS. Starbucks's revenue for the quarter was up 2.3% on a year-over-year basis. Sell-side analysts anticipate that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on SBUX shares. Wells Fargo & Company cut their target price on Starbucks from $125.00 to $100.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Evercore ISI restated an "outperform" rating and issued a $105.00 price target (up previously from $95.00) on shares of Starbucks in a research note on Tuesday, June 24th. The Goldman Sachs Group reiterated a "neutral" rating and set a $95.00 price objective (up from $85.00) on shares of Starbucks in a research note on Thursday, June 12th. Wall Street Zen lowered shares of Starbucks from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Finally, Barclays restated an "overweight" rating and issued a $108.00 target price (up previously from $98.00) on shares of Starbucks in a research note on Thursday, June 26th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, Starbucks has an average rating of "Hold" and an average target price of $98.23.

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.