Absher Wealth Management LLC Has $26 Million Stock Holdings in Starbucks Corporation (NASDAQ:SBUX)

Absher Wealth Management LLC lessened its position in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 7.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 265,030 shares of the coffee company's stock after selling 22,471 shares during the period. Starbucks comprises approximately 3.4% of Absher Wealth Management LLC's holdings, making the stock its 14th biggest holding. Absher Wealth Management LLC's holdings in Starbucks were worth $25,997,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. TrinityPoint Wealth LLC increased its position in Starbucks by 2.7% during the 4th quarter. TrinityPoint Wealth LLC now owns 3,421 shares of the coffee company's stock worth $312,000 after buying an additional 89 shares during the period. Pioneer Trust Bank N A OR increased its position in Starbucks by 0.8% during the 4th quarter. Pioneer Trust Bank N A OR now owns 11,312 shares of the coffee company's stock worth $1,032,000 after buying an additional 92 shares during the period. Wintrust Investments LLC increased its position in Starbucks by 7.1% during the 4th quarter. Wintrust Investments LLC now owns 1,411 shares of the coffee company's stock worth $128,000 after buying an additional 94 shares during the period. Gamco Investors INC. ET AL increased its position in Starbucks by 3.5% during the 4th quarter. Gamco Investors INC. ET AL now owns 2,860 shares of the coffee company's stock worth $261,000 after buying an additional 97 shares during the period. Finally, Foster Dykema Cabot & Partners LLC increased its position in Starbucks by 10.6% during the 4th quarter. Foster Dykema Cabot & Partners LLC now owns 1,014 shares of the coffee company's stock worth $93,000 after buying an additional 97 shares during the period. Institutional investors and hedge funds own 72.29% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on SBUX shares. TD Securities reiterated a "hold" rating and set a $90.00 price objective on shares of Starbucks in a research report on Wednesday, June 11th. The Goldman Sachs Group restated a "neutral" rating and issued a $95.00 price target (up previously from $85.00) on shares of Starbucks in a research report on Thursday, June 12th. Stifel Nicolaus decreased their price target on Starbucks from $103.00 to $92.00 and set a "buy" rating on the stock in a research report on Wednesday, April 30th. Wells Fargo & Company decreased their price target on Starbucks from $125.00 to $100.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. decreased their price target on Starbucks from $105.00 to $100.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 30th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $98.96.

Starbucks Price Performance

NASDAQ:SBUX traded up $0.84 during trading hours on Friday, hitting $93.12. The company's stock had a trading volume of 9,196,362 shares, compared to its average volume of 10,946,177. The stock has a fifty day simple moving average of $85.88 and a 200-day simple moving average of $94.54. The company has a market capitalization of $105.82 billion, a P/E ratio of 33.74, a PEG ratio of 4.74 and a beta of 1.00. Starbucks Corporation has a twelve month low of $71.55 and a twelve month high of $117.46.

Starbucks (NASDAQ:SBUX - Get Free Report) last announced 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 net margin of 8.61% and a negative return on equity of 42.14%. The firm had revenue of $8.76 billion for the quarter, compared to analyst estimates of $8.90 billion. During the same period in the previous year, the business posted $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 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.