Sowell Financial Services LLC reduced its position in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 3.1% in the first quarter, according to its most recent filing with the SEC. The fund owned 89,096 shares of the coffee company's stock after selling 2,833 shares during the quarter. Sowell Financial Services LLC's holdings in Starbucks were worth $8,739,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Arizona State Retirement System increased its stake in Starbucks by 0.8% in the fourth quarter. Arizona State Retirement System now owns 327,459 shares of the coffee company's stock worth $29,881,000 after purchasing an additional 2,722 shares during the period. West Michigan Advisors LLC bought a new stake in shares of Starbucks in the fourth quarter valued at about $265,000. Wernau Asset Management Inc. bought a new position in Starbucks during the 4th quarter worth about $258,000. Vanguard Capital Wealth Advisors bought a new position in Starbucks during the 4th quarter worth about $285,000. Finally, OFI Invest Asset Management bought a new position in Starbucks during the 4th quarter worth about $9,497,000. 72.29% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several research analysts have issued reports on SBUX shares. 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 report on Tuesday, March 18th. Stifel Nicolaus dropped their target price on shares of Starbucks from $103.00 to $92.00 and set a "buy" rating on the stock in a report on Wednesday, April 30th. Robert W. Baird reiterated a "neutral" rating and set a $85.00 target price (down from $114.00) on shares of Starbucks in a report on Monday, April 7th. TD Cowen reiterated a "hold" rating and set a $90.00 target price on shares of Starbucks in a report on Thursday, May 29th. Finally, Wall Street Zen cut shares of Starbucks from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. 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 data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $98.96.
Check Out Our Latest Stock Report on SBUX
Starbucks Price Performance
NASDAQ:SBUX opened at $93.26 on Monday. The firm has a market cap 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. The company has a 50 day moving average price of $85.17 and a 200-day moving average price of $94.84. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $117.46.
Starbucks (NASDAQ:SBUX - Get Free Report) last posted its 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 firm had revenue of $8.76 billion for the quarter, compared to analysts' expectations of $8.90 billion. Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. Starbucks's revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period last year, the firm earned $0.68 earnings per share. On average, sell-side analysts anticipate that Starbucks Co. will post 2.99 earnings per share for the current fiscal year.
About Starbucks
(
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.
Read More
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