Starbucks Corporation (NASDAQ:SBUX) Shares Sold by Essex LLC

Essex LLC cut its holdings in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 8.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 33,952 shares of the coffee company's stock after selling 3,208 shares during the quarter. Essex LLC's holdings in Starbucks were worth $3,330,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of SBUX. TrinityPoint Wealth LLC lifted its stake in Starbucks by 2.7% in the 4th quarter. TrinityPoint Wealth LLC now owns 3,421 shares of the coffee company's stock worth $312,000 after purchasing an additional 89 shares in the last quarter. Pioneer Trust Bank N A OR grew its position in shares of Starbucks by 0.8% in the fourth quarter. Pioneer Trust Bank N A OR now owns 11,312 shares of the coffee company's stock valued at $1,032,000 after purchasing an additional 92 shares in the last quarter. Wintrust Investments LLC increased its holdings in shares of Starbucks by 7.1% in the fourth quarter. Wintrust Investments LLC now owns 1,411 shares of the coffee company's stock valued at $128,000 after purchasing an additional 94 shares during the last quarter. Gamco Investors INC. ET AL lifted its position in Starbucks by 3.5% during the fourth 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 in the last quarter. Finally, Foster Dykema Cabot & Partners LLC grew its holdings in Starbucks by 10.6% in the 4th quarter. Foster Dykema Cabot & Partners LLC now owns 1,014 shares of the coffee company's stock valued at $93,000 after buying an additional 97 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Stock Performance

Shares of SBUX opened at $92.11 on Monday. The company's 50-day simple moving average is $86.80 and its 200-day simple moving average is $94.29. Starbucks Corporation has a 1 year low of $71.55 and a 1 year high of $117.46. The stock has a market capitalization of $104.67 billion, a PE ratio of 33.37, a P/E/G ratio of 4.73 and a beta of 1.00.

Starbucks (NASDAQ:SBUX - Get Free Report) last announced 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 business had revenue of $8.76 billion for the quarter, compared to analysts' expectations of $8.90 billion. Starbucks had a negative return on equity of 42.14% and a net margin of 8.61%. Starbucks's quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.68 earnings per share. On average, sell-side analysts predict that Starbucks Corporation will post 2.99 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. CICC Research initiated coverage on shares of Starbucks in a research report on Monday. They set an "outperform" rating and a $100.00 price target on the stock. UBS Group reduced their target price on shares of Starbucks from $105.00 to $90.00 and set a "neutral" rating on the stock in a research note on Monday, April 28th. TD Cowen reissued a "hold" rating and issued a $90.00 price target on shares of Starbucks in a research note on Thursday, May 29th. JPMorgan Chase & Co. cut their price target on shares of Starbucks from $105.00 to $100.00 and set an "overweight" rating for the company in a report on Wednesday, April 30th. Finally, Wells Fargo & Company decreased their price objective on Starbucks from $125.00 to $100.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $98.81.

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.

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