Starbucks Corporation (NASDAQ:SBUX) Shares Sold by Lafayette Investments Inc.

Lafayette Investments Inc. cut its stake in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 8.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 66,076 shares of the coffee company's stock after selling 6,066 shares during the quarter. Starbucks comprises approximately 1.4% of Lafayette Investments Inc.'s investment portfolio, making the stock its 19th biggest position. Lafayette Investments Inc.'s holdings in Starbucks were worth $6,481,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Diversified Trust Co increased its position in shares of Starbucks by 5.1% during the 1st quarter. Diversified Trust Co now owns 11,079 shares of the coffee company's stock worth $1,087,000 after purchasing an additional 535 shares during the last quarter. Hidden Cove Wealth Management LLC raised its stake in shares of Starbucks by 10.1% in the 1st quarter. Hidden Cove Wealth Management LLC now owns 4,579 shares of the coffee company's stock valued at $449,000 after acquiring an additional 419 shares during the period. PDS Planning Inc lifted its holdings in shares of Starbucks by 8.1% in the 1st quarter. PDS Planning Inc now owns 7,592 shares of the coffee company's stock worth $745,000 after acquiring an additional 569 shares during the last quarter. Investment Advisory Services Inc. TX ADV boosted its position in shares of Starbucks by 5.8% during the 1st quarter. Investment Advisory Services Inc. TX ADV now owns 10,606 shares of the coffee company's stock worth $1,040,000 after purchasing an additional 584 shares during the period. Finally, Flavin Financial Services Inc. increased its holdings in Starbucks by 4.2% in the 1st quarter. Flavin Financial Services Inc. now owns 7,241 shares of the coffee company's stock valued at $710,000 after purchasing an additional 294 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on SBUX shares. JPMorgan Chase & Co. decreased their target price on Starbucks from $105.00 to $100.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 30th. Evercore ISI reiterated an "outperform" rating and set a $105.00 target price (up from $95.00) on shares of Starbucks in a report on Tuesday. Royal Bank Of Canada raised their price target on shares of Starbucks from $95.00 to $100.00 and gave the company an "outperform" rating in a research report on Wednesday, June 11th. Baird R W lowered Starbucks from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 7th. Finally, TD Cowen reiterated a "hold" rating and issued a $90.00 price objective on shares of Starbucks in a research note on Thursday, May 29th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Starbucks currently has an average rating of "Hold" and a consensus price target of $98.76.

Starbucks Price Performance

NASDAQ:SBUX opened at $91.84 on Friday. Starbucks Corporation has a 1-year low of $71.55 and a 1-year high of $117.46. The firm's fifty day moving average price is $86.59 and its 200 day moving average price is $94.39. The firm has a market cap of $104.37 billion, a price-to-earnings ratio of 33.28, a price-to-earnings-growth ratio of 4.65 and a beta of 1.00.

Starbucks (NASDAQ:SBUX - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The coffee company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.10). The business had revenue of $8.76 billion during 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%. The company's revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.68 EPS. As a group, analysts expect that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

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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