Cambridge Investment Research Advisors Inc. Sells 52,530 Shares of Starbucks Corporation (NASDAQ:SBUX)

Cambridge Investment Research Advisors Inc. reduced its stake in Starbucks Corporation (NASDAQ:SBUX) by 17.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 252,154 shares of the coffee company’s stock after selling 52,530 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Starbucks were worth $24,734,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of SBUX. Brighton Jones LLC increased 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. Sigma Planning Corp increased its position in shares of Starbucks by 5.0% during the 4th quarter. Sigma Planning Corp now owns 21,341 shares of the coffee company’s stock worth $1,947,000 after purchasing an additional 1,018 shares in the last quarter. Wealthspire Advisors LLC increased its position in shares of Starbucks by 1.2% during the 4th quarter. Wealthspire Advisors LLC now owns 42,717 shares of the coffee company’s stock worth $3,898,000 after purchasing an additional 516 shares in the last quarter. World Equity Group Inc. increased its position in shares of Starbucks by 105.5% during the 4th quarter. World Equity Group Inc. now owns 4,700 shares of the coffee company’s stock worth $429,000 after purchasing an additional 2,413 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Starbucks during the 4th quarter worth about $389,000. 72.29% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SBUX. Baird R W cut shares of Starbucks from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 7th. Citigroup increased their price objective on shares of Starbucks from $84.00 to $95.00 and gave the stock a “neutral” rating in a report on Thursday, June 12th. Stifel Nicolaus decreased their price objective on shares of Starbucks from $103.00 to $92.00 and set a “buy” rating on the stock in a report on Wednesday, April 30th. TD Cowen reissued a “hold” rating and set a $90.00 price objective on shares of Starbucks in a report on Thursday, May 29th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Starbucks from $105.00 to $100.00 and set an “overweight” rating on the stock in a report on Wednesday, April 30th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, Starbucks currently has a consensus rating of “Hold” and a consensus target price of $98.96.

Starbucks Trading Down 0.8%

Shares of NASDAQ SBUX opened at $92.34 on Tuesday. The firm has a market capitalization of $104.94 billion, a PE ratio of 33.46, a price-to-earnings-growth ratio of 4.74 and a beta of 1.00. 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 is $86.02 and its 200-day moving average is $94.48.

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

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.