Cyndeo Wealth Partners LLC Trims Stake in Starbucks Corporation (NASDAQ:SBUX)

Cyndeo Wealth Partners LLC cut its stake in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 23.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,616 shares of the coffee company's stock after selling 2,970 shares during the quarter. Cyndeo Wealth Partners LLC's holdings in Starbucks were worth $943,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. University of Texas Texas AM Investment Management Co. bought a new position in Starbucks during the fourth quarter valued at approximately $25,000. Graney & King LLC bought a new position in Starbucks in the fourth quarter valued at about $26,000. Runnymede Capital Advisors Inc. purchased a new position in Starbucks in the fourth quarter worth about $27,000. Marshall Investment Management LLC bought a new stake in shares of Starbucks during the 4th quarter valued at about $30,000. Finally, Noble Wealth Management PBC purchased a new stake in shares of Starbucks during the 4th quarter valued at about $30,000. Institutional investors own 72.29% of the company's stock.

Analyst Ratings Changes

SBUX has been the subject of several recent research reports. The Goldman Sachs Group restated a "neutral" rating and set a $95.00 target price (up from $85.00) on shares of Starbucks in a research report on Thursday, June 12th. Guggenheim reduced their price objective on Starbucks from $95.00 to $83.00 and set a "neutral" rating for the company in a research note on Tuesday, April 29th. Robert W. Baird reiterated a "neutral" rating and set a $85.00 target price (down from $114.00) on shares of Starbucks in a research report on Monday, April 7th. Barclays reduced their price target on Starbucks from $106.00 to $98.00 and set an "overweight" rating for the company in a research report on Wednesday, April 30th. Finally, BMO Capital Markets decreased their price objective 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 research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $98.96.

Starbucks Stock Up 0.7%

NASDAQ SBUX traded up $0.60 during trading on Wednesday, hitting $92.19. 1,092,463 shares of the stock traded hands, compared to its average volume of 10,663,768. The firm has a 50-day simple moving average of $85.50 and a 200-day simple moving average of $94.75. Starbucks Corporation has a 12-month low of $71.55 and a 12-month high of $117.46. The company has a market capitalization of $104.76 billion, a P/E ratio of 33.45, a price-to-earnings-growth ratio of 4.69 and a beta of 1.00.

Starbucks (NASDAQ:SBUX - Get Free Report) last released its quarterly 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 company had revenue of $8.76 billion during the quarter, compared to analysts' expectations of $8.90 billion. During the same quarter in the prior year, the business posted $0.68 EPS. The company's revenue was up 2.3% on a year-over-year basis. As a group, research analysts predict that Starbucks Corporation will post 2.99 EPS for the current fiscal 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.