Stonegate Investment Group LLC Sells 57,399 Shares of Starbucks Corporation (NASDAQ:SBUX)

Stonegate Investment Group LLC decreased its position in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 81.0% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 13,433 shares of the coffee company's stock after selling 57,399 shares during the period. Stonegate Investment Group LLC's holdings in Starbucks were worth $1,318,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of SBUX. Norges Bank bought a new stake in Starbucks in the 4th quarter valued at approximately $1,244,812,000. Capital World Investors raised its stake 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 purchasing an additional 9,174,682 shares in the last quarter. FMR LLC grew its stake in shares of Starbucks by 27.0% in the fourth quarter. FMR LLC now owns 25,128,649 shares of the coffee company's stock valued at $2,292,989,000 after buying an additional 5,348,790 shares in the last quarter. Capital Research Global Investors grew its stake in shares of Starbucks by 167.6% in the fourth quarter. Capital Research Global Investors now owns 5,690,198 shares of the coffee company's stock valued at $519,230,000 after buying an additional 3,563,942 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Starbucks during the fourth quarter worth $284,283,000. Institutional investors own 72.29% of the company's stock.

Starbucks Stock Up 0.9%

Shares of Starbucks stock traded up $0.84 during trading on Friday, reaching $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 business's 50-day moving average price is $85.88 and its 200-day moving average price is $94.54. The firm has a market cap of $105.82 billion, a PE ratio of 33.74, a P/E/G ratio of 4.74 and a beta of 1.00. Starbucks Corporation has a 52 week low of $71.55 and a 52 week high of $117.46.

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

Analysts Set New Price Targets

A number of brokerages recently weighed in on SBUX. TD Securities restated a "hold" rating and set a $90.00 target price on shares of Starbucks in a report on Wednesday, June 11th. Cowen downgraded shares of Starbucks from a "buy" rating to a "hold" rating in a report on Thursday, May 29th. UBS Group lowered their target price 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. The Goldman Sachs Group restated a "neutral" rating and set a $95.00 target price (up from $85.00) on shares of Starbucks in a report on Thursday, June 12th. Finally, Citigroup boosted their target price on shares of Starbucks from $84.00 to $95.00 and gave the stock a "neutral" rating in a report on Thursday, June 12th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $98.96.

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.