Riverbridge Partners LLC Sells 4,584 Shares of Starbucks Corporation (NASDAQ:SBUX)

Riverbridge Partners LLC decreased its position in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 0.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 505,519 shares of the coffee company's stock after selling 4,584 shares during the period. Riverbridge Partners LLC's holdings in Starbucks were worth $49,586,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in SBUX. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Starbucks during the fourth quarter worth about $25,000. Graney & King LLC bought a new position in shares of Starbucks during the 4th quarter worth approximately $26,000. Runnymede Capital Advisors Inc. bought a new position in shares of Starbucks during the 4th quarter worth approximately $27,000. Marshall Investment Management LLC acquired a new stake in Starbucks during the 4th quarter worth approximately $30,000. Finally, Noble Wealth Management PBC acquired a new stake in Starbucks during the 4th quarter worth approximately $30,000. Institutional investors own 72.29% of the company's stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Argus raised Starbucks from a "hold" rating to a "buy" rating and set a $115.00 price objective for the company in a report on Tuesday, March 18th. Jefferies Financial Group upgraded Starbucks from an "underperform" rating to a "hold" rating and set a $76.00 price target on the stock in a research report on Wednesday, April 9th. TD Cowen reiterated a "hold" rating and issued a $90.00 price target on shares of Starbucks in a research report on Thursday, May 29th. Barclays cut their target price on Starbucks from $106.00 to $98.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 30th. Finally, BMO Capital Markets dropped their price target on Starbucks from $115.00 to $100.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $98.96.

Starbucks Stock Up 0.8%

Shares of SBUX opened at $92.28 on Friday. The business's 50 day moving average price is $85.73 and its 200-day moving average price is $94.67. Starbucks Corporation has a 52 week low of $71.55 and a 52 week high of $117.46. The stock has a market cap of $104.87 billion, a P/E ratio of 33.43, a P/E/G ratio of 4.70 and a beta of 1.00.

Starbucks (NASDAQ:SBUX - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The coffee company reported $0.41 EPS 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 company had revenue of $8.76 billion during the quarter, compared to the consensus estimate of $8.90 billion. During the same period in the prior year, the firm earned $0.68 earnings per share. The business's revenue for the quarter was up 2.3% compared to the same quarter last year. On average, equities analysts anticipate 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.

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