Weatherly Asset Management L. P. Sells 2,933 Shares of Starbucks Corporation (NASDAQ:SBUX)

Weatherly Asset Management L. P. reduced its position in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 2.8% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 101,061 shares of the coffee company's stock after selling 2,933 shares during the quarter. Starbucks accounts for about 0.9% of Weatherly Asset Management L. P.'s investment portfolio, making the stock its 24th biggest holding. Weatherly Asset Management L. P.'s holdings in Starbucks were worth $9,913,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of SBUX. Norges Bank bought a new stake in Starbucks during the 4th quarter valued at about $1,244,812,000. Capital World Investors increased its stake in Starbucks by 20.1% during the 4th quarter. Capital World Investors now owns 54,924,230 shares of the coffee company's stock valued at $5,011,796,000 after purchasing an additional 9,174,682 shares in the last quarter. FMR LLC boosted its holdings in shares of Starbucks by 27.0% during the 4th quarter. FMR LLC now owns 25,128,649 shares of the coffee company's stock valued at $2,292,989,000 after acquiring an additional 5,348,790 shares during the last quarter. Capital Research Global Investors boosted its holdings in shares of Starbucks by 167.6% during the 4th quarter. Capital Research Global Investors now owns 5,690,198 shares of the coffee company's stock valued at $519,230,000 after acquiring an additional 3,563,942 shares during the last quarter. Finally, Toronto Dominion Bank boosted its holdings in shares of Starbucks by 629.5% during the 4th quarter. Toronto Dominion Bank now owns 3,190,114 shares of the coffee company's stock valued at $291,097,000 after acquiring an additional 2,752,809 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SBUX. Robert W. Baird reaffirmed a "neutral" rating and set a $85.00 price target (down previously from $114.00) on shares of Starbucks in a report on Monday, April 7th. Jefferies Financial Group raised shares of Starbucks from an "underperform" rating to a "hold" rating and set a $76.00 price target on the stock in a report on Wednesday, April 9th. TD Securities reaffirmed a "hold" rating and set a $90.00 price target on shares of Starbucks in a report on Monday, June 23rd. Barclays reaffirmed an "overweight" rating and set a $108.00 price target (up previously from $98.00) on shares of Starbucks in a report on Thursday, June 26th. Finally, Wall Street Zen downgraded shares of Starbucks from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $98.73.

Starbucks Price Performance

Starbucks stock opened at $94.94 on Friday. The stock has a market cap of $107.89 billion, a P/E ratio of 34.40, a PEG ratio of 4.86 and a beta of 1.02. Starbucks Corporation has a 1 year low of $71.55 and a 1 year high of $117.46. The firm's 50 day moving average price is $89.10 and its 200-day moving average price is $94.52.

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

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.

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