Starbucks Corporation (NASDAQ:SBUX) Stock Position Decreased by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. cut its stake in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 21.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 122,589 shares of the coffee company's stock after selling 32,688 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Starbucks were worth $12,025,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of SBUX. Norges Bank bought a new stake in shares of Starbucks during the 4th quarter worth $1,244,812,000. Capital World Investors boosted its position in shares of Starbucks by 20.1% in the fourth quarter. Capital World Investors now owns 54,924,230 shares of the coffee company's stock worth $5,011,796,000 after buying an additional 9,174,682 shares during the period. FMR LLC boosted its position 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 worth $2,292,989,000 after buying an additional 5,348,790 shares during the period. Capital Research Global Investors boosted its position 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 worth $519,230,000 after buying an additional 3,563,942 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in shares of Starbucks in the fourth quarter worth $284,283,000. 72.29% of the stock is owned by institutional investors.

Starbucks Stock Performance

SBUX opened at $92.28 on Friday. The company has a market cap of $104.87 billion, a PE ratio of 33.43, a price-to-earnings-growth ratio of 4.70 and a beta of 1.00. The stock has a 50-day moving average of $85.73 and a 200-day moving average of $94.67. 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 released its quarterly earnings results 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 company had revenue of $8.76 billion for the quarter, compared to the consensus estimate of $8.90 billion. Starbucks had a negative return on equity of 42.14% and a net margin of 8.61%. The business's revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.68 EPS. On average, research analysts predict that Starbucks Corporation will post 2.99 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Wall Street Zen cut Starbucks from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. TD Cowen reaffirmed a "hold" rating and issued a $90.00 target price on shares of Starbucks in a research report on Thursday, May 29th. TD Securities reaffirmed a "hold" rating and issued a $90.00 target price on shares of Starbucks in a research report on Wednesday, June 11th. Royal Bank Of Canada raised their target price on Starbucks from $95.00 to $100.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 11th. Finally, Wells Fargo & Company decreased their target price on Starbucks from $125.00 to $100.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $98.96.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.