Starbucks Corporation (NASDAQ:SBUX) Shares Sold by IRON Financial LLC

IRON Financial LLC lessened its holdings in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 67.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,957 shares of the coffee company's stock after selling 6,200 shares during the quarter. IRON Financial LLC's holdings in Starbucks were worth $290,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Norges Bank purchased a new position in shares of Starbucks during the 4th quarter worth $1,244,812,000. Capital World Investors raised its holdings in shares of Starbucks by 20.1% during the 4th quarter. Capital World Investors now owns 54,924,230 shares of the coffee company's stock worth $5,011,796,000 after acquiring an additional 9,174,682 shares during the period. FMR LLC raised its holdings in shares of Starbucks by 27.0% during the 4th quarter. FMR LLC now owns 25,128,649 shares of the coffee company's stock worth $2,292,989,000 after acquiring an additional 5,348,790 shares during the period. Capital Research Global Investors raised its holdings in shares of Starbucks by 167.6% during the 4th quarter. Capital Research Global Investors now owns 5,690,198 shares of the coffee company's stock worth $519,230,000 after acquiring an additional 3,563,942 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in shares of Starbucks during the 4th quarter worth $284,283,000. Institutional investors and hedge funds own 72.29% of the company's stock.

Starbucks Price Performance

NASDAQ SBUX opened at $92.11 on Monday. The company has a market cap of $104.67 billion, a P/E ratio of 33.37, a P/E/G ratio of 4.73 and a beta of 1.00. The stock has a 50-day moving average of $86.80 and a two-hundred day moving average of $94.29. Starbucks Corporation has a 1-year low of $71.55 and a 1-year high of $117.46.

Starbucks (NASDAQ:SBUX - Get Free Report) last released 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 during the quarter, compared to analyst estimates 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 was up 2.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.68 earnings per share. On average, analysts anticipate that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on SBUX shares. Robert W. Baird reiterated a "neutral" rating and set a $85.00 price target (down previously from $114.00) on shares of Starbucks in a report on Monday, April 7th. Wall Street Zen lowered Starbucks from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. UBS Group reduced their price objective on shares of Starbucks from $105.00 to $90.00 and set a "neutral" rating on the stock in a report on Monday, April 28th. Royal Bank Of Canada boosted their price objective on shares of Starbucks from $95.00 to $100.00 and gave the company an "outperform" rating in a report on Wednesday, June 11th. Finally, Baird R W lowered shares of Starbucks from a "strong-buy" rating to a "hold" rating in a report on Monday, April 7th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $98.76.

Starbucks Company 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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