Starbucks Corporation $SBUX Shares Sold by TD Private Client Wealth LLC

Key Points

• TD Private Client Wealth LLC decreased its holdings in Starbucks by 13.4%, now owning 27,393 shares worth approximately $2.51 million after selling 4,247 shares in the second quarter.
• Starbucks recently reported $0.50 EPS for the quarter, falling short of the consensus estimate of $0.64, although revenue of $9.46 billion exceeded expectations.
• Several analysts have upgraded their price targets for Starbucks, with JPMorgan and Wells Fargo setting new targets of $105.00, maintaining an "overweight" rating.

TD Private Client Wealth LLC lowered its position in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 13.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,393 shares of the coffee company's stock after selling 4,247 shares during the period. TD Private Client Wealth LLC's holdings in Starbucks were worth $2,510,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SBUX. Brighton Jones LLC boosted its position in shares of Starbucks by 86.5% during the 4th quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company's stock worth $16,126,000 after purchasing an additional 81,952 shares in the last quarter. Menard Financial Group LLC acquired a new position in Starbucks during the fourth quarter worth about $87,000. Wood Tarver Financial Group LLC acquired a new position in Starbucks during the fourth quarter worth about $117,000. Aegis Wealth Management LLC purchased a new position in Starbucks in the fourth quarter valued at about $307,000. Finally, Mattson Financial Services LLC lifted its position in shares of Starbucks by 8.1% during the 4th quarter. Mattson Financial Services LLC now owns 31,970 shares of the coffee company's stock valued at $3,117,000 after acquiring an additional 2,407 shares during the period. Institutional investors and hedge funds own 72.29% of the company's stock.

Starbucks Price Performance

SBUX opened at $84.27 on Thursday. Starbucks Corporation has a 12 month low of $75.50 and a 12 month high of $117.46. The business has a 50-day moving average of $88.87 and a two-hundred day moving average of $89.27. The stock has a market capitalization of $95.79 billion, a price-to-earnings ratio of 36.32, a price-to-earnings-growth ratio of 5.12 and a beta of 1.00.

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

Analyst Ratings Changes

SBUX has been the subject of several research analyst reports. JPMorgan Chase & Co. raised their price objective on Starbucks from $100.00 to $105.00 and gave the company an "overweight" rating in a research note on Wednesday, July 30th. Wells Fargo & Company upped their target price on Starbucks from $100.00 to $105.00 and gave the company an "overweight" rating in a report on Wednesday, July 30th. TD Securities reaffirmed a "hold" rating and set a $90.00 price target on shares of Starbucks in a research note on Monday, June 23rd. Morgan Stanley reiterated an "overweight" rating and issued a $103.00 price objective (up from $95.00) on shares of Starbucks in a research report on Wednesday, July 30th. Finally, Evercore ISI restated an "outperform" rating and set a $105.00 target price (up from $95.00) on shares of Starbucks in a report on Tuesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target 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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