Marshall & Sullivan Inc. WA Sells 6,782 Shares of Starbucks Corporation $SBUX

Key Points

• Marshall & Sullivan Inc. WA significantly reduced its stake in Starbucks Corporation by 69.2% during the second quarter, leaving them with 3,014 shares valued at $276,000.
• Starbucks reported a quarterly EPS of $0.50, which was below analysts' expectations of $0.64, despite a revenue of $9.46 billion that surpassed estimates.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Starbucks, with a target price averaging $104.40, following multiple upward adjustments in recent reports.

Marshall & Sullivan Inc. WA lowered its holdings in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 69.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,014 shares of the coffee company's stock after selling 6,782 shares during the quarter. Marshall & Sullivan Inc. WA's holdings in Starbucks were worth $276,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. University of Texas Texas AM Investment Management Co. bought a new stake in Starbucks in the fourth quarter valued at about $25,000. Hughes Financial Services LLC bought a new stake in Starbucks in the first quarter valued at about $27,000. CBIZ Investment Advisory Services LLC increased its stake in 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. bought a new stake in Starbucks in the first quarter valued at about $29,000. Finally, Nova Wealth Management Inc. increased its stake in 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. Institutional investors own 72.29% of the company's stock.

Starbucks Stock Up 0.5%

NASDAQ SBUX traded up $0.43 during trading hours on Tuesday, hitting $85.72. The company's stock had a trading volume of 6,252,762 shares, compared to its average volume of 10,282,344. The stock has a fifty day moving average of $89.17 and a 200 day moving average of $89.33. Starbucks Corporation has a twelve month low of $75.50 and a twelve month high of $117.46. The firm has a market capitalization of $97.44 billion, a P/E ratio of 37.01, a PEG ratio of 5.05 and a beta of 1.00.

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

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on SBUX shares. Jefferies Financial Group cut shares of Starbucks from a "hold" rating to an "underperform" rating and set a $76.00 target price on the stock. in a research note on Thursday, July 17th. Guggenheim boosted their target price on Starbucks from $79.00 to $90.00 and gave the stock a "neutral" rating in a report on Thursday, July 31st. Citigroup reduced their target price on Starbucks from $100.00 to $99.00 and set a "neutral" rating on the stock in a report on Wednesday, July 30th. UBS Group boosted their target price on Starbucks from $95.00 to $100.00 and gave the stock a "neutral" rating in a report on Wednesday, July 30th. Finally, Royal Bank Of Canada boosted their target price on Starbucks from $100.00 to $110.00 and gave the stock an "outperform" rating in a report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $104.40.

Starbucks 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.