Cerity Partners LLC Sells 40,463 Shares of Starbucks Corporation (NASDAQ:SBUX)

Cerity Partners LLC trimmed its position in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 11.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 299,274 shares of the coffee company's stock after selling 40,463 shares during the period. Cerity Partners LLC's holdings in Starbucks were worth $29,356,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. University of Texas Texas AM Investment Management Co. purchased a new stake in Starbucks during the fourth quarter valued at about $25,000. Graney & King LLC bought a new stake in Starbucks during the 4th quarter valued at approximately $26,000. Runnymede Capital Advisors Inc. bought a new stake in Starbucks during the 4th quarter valued at approximately $27,000. Kapitalo Investimentos Ltda bought a new stake in shares of Starbucks in the 4th quarter worth approximately $32,000. Finally, Ball & Co Wealth Management Inc. bought a new stake in Starbucks during the 4th quarter valued at about $41,000. 72.29% of the stock is owned by institutional investors.

Starbucks Stock Down 0.2%

NASDAQ:SBUX traded down $0.21 during mid-day trading on Friday, hitting $94.94. 6,339,055 shares of the stock traded hands, compared to its average volume of 10,851,998. The stock has a market capitalization of $107.89 billion, a price-to-earnings ratio of 34.40, a PEG ratio of 4.86 and a beta of 1.02. Starbucks Corporation has a 52 week low of $71.55 and a 52 week high of $117.46. The firm's 50 day moving average is $89.10 and its two-hundred day moving average is $94.52.

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 the consensus estimate of $0.51 by ($0.10). The firm had revenue of $8.76 billion for the quarter, compared to the consensus estimate of $8.90 billion. Starbucks had a net margin of 8.61% and a negative return on equity of 42.14%. The business's revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.68 earnings per share. As a group, research analysts predict that Starbucks Corporation will post 2.99 EPS for the current year.

Wall Street Analyst Weigh In

SBUX has been the topic of several analyst reports. Royal Bank Of Canada upped their price objective on Starbucks from $95.00 to $100.00 and gave the company an "outperform" rating in a research report on Wednesday, June 11th. Robert W. Baird reissued a "neutral" rating and set a $85.00 price target (down from $114.00) on shares of Starbucks in a report on Monday, April 7th. Sanford C. Bernstein upped their price objective on Starbucks from $90.00 to $100.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 2nd. Evercore ISI reiterated 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. Finally, Wells Fargo & Company dropped their price target on Starbucks from $125.00 to $100.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, Starbucks presently has a consensus rating of "Hold" and an average target price of $98.73.

Starbucks 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.