Starbucks Corporation (NASDAQ:SBUX) Shares Sold by Stratos Wealth Partners LTD.

Stratos Wealth Partners LTD. decreased its position in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 8.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 74,768 shares of the coffee company's stock after selling 6,778 shares during the quarter. Stratos Wealth Partners LTD.'s holdings in Starbucks were worth $7,334,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in SBUX. Vanguard Group Inc. lifted its position in Starbucks by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 111,106,209 shares of the coffee company's stock valued at $10,138,442,000 after purchasing an additional 784,432 shares during the period. Capital World Investors raised its position in 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 acquiring an additional 9,174,682 shares during the period. FMR LLC raised its position in 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 acquiring an additional 5,348,790 shares during the period. Geode Capital Management LLC raised its position in Starbucks by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 24,826,001 shares of the coffee company's stock worth $2,259,516,000 after acquiring an additional 548,245 shares during the period. Finally, Wellington Management Group LLP raised its position in Starbucks by 4.7% in the fourth quarter. Wellington Management Group LLP now owns 15,868,817 shares of the coffee company's stock worth $1,448,030,000 after acquiring an additional 718,880 shares during the period. Hedge funds and other institutional investors own 72.29% of the company's stock.

Starbucks Price Performance

Shares of NASDAQ:SBUX traded down $0.10 during trading hours on Thursday, hitting $95.15. The company's stock had a trading volume of 6,909,299 shares, compared to its average volume of 10,874,732. Starbucks Corporation has a 52 week low of $71.55 and a 52 week high of $117.46. The company has a market capitalization of $108.13 billion, a price-to-earnings ratio of 34.47, a P/E/G ratio of 4.88 and a beta of 1.02. The firm's fifty day moving average price is $88.63 and its 200 day moving average price is $94.40.

Starbucks (NASDAQ:SBUX - Get Free Report) last posted its earnings results on Tuesday, April 29th. The coffee company reported $0.41 EPS for the quarter, missing analysts' consensus estimates of $0.51 by ($0.10). Starbucks had a net margin of 8.61% and a negative return on equity of 42.14%. The firm had revenue of $8.76 billion for the quarter, compared to analysts' expectations of $8.90 billion. During the same period in the previous year, the company earned $0.68 EPS. The company's revenue was up 2.3% on a year-over-year basis. On average, equities research analysts predict that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SBUX has been the topic of several recent research reports. Baird R W downgraded shares of Starbucks from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 7th. Jefferies Financial Group upgraded shares of Starbucks from an "underperform" rating to a "hold" rating and set a $76.00 price objective on the stock in a research report on Wednesday, April 9th. Evercore ISI restated an "outperform" rating and set a $105.00 price objective (up from $95.00) on shares of Starbucks in a research report on Tuesday, June 24th. Stifel Nicolaus cut their target price on shares of Starbucks from $103.00 to $92.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. Finally, BMO Capital Markets cut their target price on shares of Starbucks from $115.00 to $100.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and fifteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $98.23.

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.