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Wealthcare Advisory Partners LLC trimmed its stake in Starbucks Co. (NASDAQ:SBUX – Free Report) by 5.8% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 10,961 shares of the coffee company’s stock after selling 676 shares during the quarter. Wealthcare Advisory Partners LLC’s holdings in Starbucks were worth $1,075,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Panoramic Capital Partners LLC increased its holdings in shares of Starbucks by 23.3% during the first quarter. Panoramic Capital Partners LLC now owns 4,006 shares of the coffee company’s stock valued at $393,000 after purchasing an additional 758 shares during the period. Bruce G. Allen Investments LLC increased its holdings in shares of Starbucks by 13.7% during the first quarter. Bruce G. Allen Investments LLC now owns 2,264 shares of the coffee company’s stock valued at $222,000 after purchasing an additional 273 shares during the period. Tounjian Advisory Partners LLC acquired a new position in shares of Starbucks during the first quarter valued at $976,000. Northstar Advisory Group LLC increased its holdings in shares of Starbucks by 5.6% during the first quarter. Northstar Advisory Group LLC now owns 28,492 shares of the coffee company’s stock valued at $2,795,000 after purchasing an additional 1,517 shares during the period. Finally, Pallas Capital Advisors LLC increased its holdings in shares of Starbucks by 99.4% during the first quarter. Pallas Capital Advisors LLC now owns 4,870 shares of the coffee company’s stock valued at $478,000 after purchasing an additional 2,428 shares during the period. 72.29% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
SBUX has been the topic of a number of research analyst reports. JPMorgan Chase & Co. lowered 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. The Goldman Sachs Group lifted their target price on Starbucks from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Thursday. Baird R W lowered Starbucks from a “strong-buy” rating to a “hold” rating in a report on Monday, April 7th. TD Cowen reaffirmed a “hold” rating and set a $90.00 target price on shares of Starbucks in a report on Thursday, May 29th. Finally, BMO Capital Markets lowered their target price on Starbucks from $115.00 to $100.00 and set an “outperform” rating on the stock in a report on Wednesday, April 30th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, Starbucks has an average rating of “Hold” and a consensus target price of $98.96.
Get Our Latest Report on Starbucks
Starbucks Price Performance
Shares of NASDAQ SBUX opened at $94.32 on Friday. Starbucks Co. has a one year low of $71.55 and a one year high of $117.46. The business’s 50-day moving average price is $84.89 and its two-hundred day moving average price is $94.98. The company has a market capitalization of $107.19 billion, a P/E ratio of 30.43, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00.
Starbucks (NASDAQ:SBUX – Get Free Report) last announced its quarterly earnings results 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 firm had revenue of $8.76 billion for the quarter, compared to analyst estimates of $8.90 billion. Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.68 earnings per share. On average, equities analysts anticipate that Starbucks Co. will post 2.99 EPS for the current year.
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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