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

Stratos Wealth Partners LTD. cut its stake in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 8.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 74,768 shares of the coffee company's stock after selling 6,778 shares during the period. Stratos Wealth Partners LTD.'s holdings in Starbucks were worth $7,334,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Stratos Wealth Advisors LLC boosted its holdings in shares of Starbucks by 3.6% in the 1st quarter. Stratos Wealth Advisors LLC now owns 6,940 shares of the coffee company's stock valued at $681,000 after buying an additional 240 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its position in Starbucks by 51.8% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 28,152 shares of the coffee company's stock worth $2,761,000 after buying an additional 9,604 shares during the last quarter. Interchange Capital Partners LLC grew its stake in shares of Starbucks by 1.7% during the 1st quarter. Interchange Capital Partners LLC now owns 15,957 shares of the coffee company's stock worth $1,565,000 after purchasing an additional 260 shares during the period. Washington Trust Bank grew its stake in shares of Starbucks by 5.4% during the 1st quarter. Washington Trust Bank now owns 179,261 shares of the coffee company's stock worth $17,584,000 after purchasing an additional 9,235 shares during the period. Finally, Fullcircle Wealth LLC grew its stake in shares of Starbucks by 27.0% during the 1st quarter. Fullcircle Wealth LLC now owns 15,424 shares of the coffee company's stock worth $1,513,000 after purchasing an additional 3,278 shares during the period. 72.29% of the stock is currently owned by institutional investors.

Starbucks Stock Down 0.4%

Shares of SBUX traded down $0.33 during trading hours on Thursday, reaching $94.92. 2,470,080 shares of the company traded hands, compared to its average volume of 10,858,629. The stock has a market capitalization of $107.86 billion, a PE ratio of 34.39, a price-to-earnings-growth ratio of 4.86 and a beta of 1.02. Starbucks Corporation has a fifty-two week low of $71.55 and a fifty-two week high of $117.46. The stock has a fifty day simple moving average of $88.63 and a 200 day simple moving average of $94.40.

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

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SBUX. Citigroup lifted their price target on Starbucks from $84.00 to $95.00 and gave the stock a "neutral" rating in a report on Thursday, June 12th. TD Cowen reiterated a "hold" rating and set a $90.00 price target on shares of Starbucks in a report on Thursday, May 29th. JPMorgan Chase & Co. reduced their price target on Starbucks from $105.00 to $100.00 and set an "overweight" rating on the stock in a report on Wednesday, April 30th. CICC Research assumed coverage on shares of Starbucks in a report on Monday, June 30th. They issued an "outperform" rating and a $100.00 price objective on the stock. Finally, Royal Bank Of Canada boosted their price objective on shares of Starbucks from $95.00 to $100.00 and gave the company an "outperform" rating in a report on Wednesday, June 11th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, Starbucks has an average rating of "Hold" and an average target price of $98.23.

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.