Starbucks Corporation $SBUX Shares Sold by Aspire Capital Advisors LLC

Key Points

• Aspire Capital Advisors LLC reduced its stake in Starbucks Corporation by 12.4% in Q2, holding 21,026 shares worth approximately $1.93 million after selling 2,987 shares.
• The company reported $0.50 earnings per share, falling short of analysts' estimates of $0.64, although revenue reached $9.46 billion, exceeding expectations.
• Starbucks has seen significant changes in institutional investments, with 72.29% of its stock owned by institutional investors and hedge funds, reflecting varying investor interests.

Aspire Capital Advisors LLC trimmed its holdings in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 12.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,026 shares of the coffee company's stock after selling 2,987 shares during the quarter. Aspire Capital Advisors LLC's holdings in Starbucks were worth $1,927,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hughes Financial Services LLC acquired a new stake in shares of Starbucks in the first quarter valued at approximately $27,000. CBIZ Investment Advisory Services LLC boosted its holdings in shares of Starbucks by 125.2% in the first quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company's stock valued at $28,000 after acquiring an additional 159 shares during the period. McClarren Financial Advisors Inc. acquired a new stake in shares of Starbucks in the first quarter valued at approximately $29,000. Nova Wealth Management Inc. boosted its holdings in shares of Starbucks by 285.4% in the first quarter. Nova Wealth Management Inc. now owns 316 shares of the coffee company's stock valued at $31,000 after acquiring an additional 234 shares during the period. Finally, Activest Wealth Management boosted its holdings in shares of Starbucks by 78.0% in the first quarter. Activest Wealth Management now owns 331 shares of the coffee company's stock valued at $32,000 after acquiring an additional 145 shares during the period. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Stock Performance

NASDAQ:SBUX opened at $84.27 on Thursday. The stock has a fifty day moving average price of $88.87 and a two-hundred day moving average price of $89.27. The stock has a market capitalization of $95.79 billion, a price-to-earnings ratio of 36.32, a PEG ratio of 5.12 and a beta of 1.00. Starbucks Corporation has a 1 year low of $75.50 and a 1 year high of $117.46.

Starbucks (NASDAQ:SBUX - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The coffee company reported $0.50 earnings per share for the quarter, missing analysts' consensus estimates of $0.64 by ($0.14). Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The firm had revenue of $9.46 billion during the quarter, compared to analysts' expectations of $9.29 billion. During the same quarter in the prior year, the business earned $0.93 EPS. The company's quarterly revenue was up 3.8% compared to the same quarter last year. On average, analysts predict that Starbucks Corporation will post 2.99 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SBUX. The Goldman Sachs Group reissued a "neutral" rating and issued a $95.00 price objective (up from $85.00) on shares of Starbucks in a report on Thursday, June 12th. Barclays upped their price target on Starbucks from $106.00 to $115.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. Bank of America upped their price target on Starbucks from $101.00 to $110.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. Wells Fargo & Company upped their price target on Starbucks from $100.00 to $105.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. Finally, Stifel Nicolaus upped their price target on Starbucks from $92.00 to $105.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, Starbucks has an average rating of "Moderate Buy" and an average target price of $104.40.

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.

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