Continuum Advisory LLC decreased its holdings in Starbucks Corporation (NASDAQ:SBUX – Free Report) by 9.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,810 shares of the coffee company’s stock after selling 836 shares during the period. Continuum Advisory LLC’s holdings in Starbucks were worth $766,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in SBUX. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Starbucks in the 4th quarter valued at about $25,000. Graney & King LLC acquired a new position in shares of Starbucks in the 4th quarter valued at about $26,000. Runnymede Capital Advisors Inc. acquired a new position in shares of Starbucks in the 4th quarter valued at about $27,000. Noble Wealth Management PBC acquired a new position in shares of Starbucks in the 4th quarter valued at about $30,000. Finally, Kapitalo Investimentos Ltda acquired a new position in shares of Starbucks in the 4th quarter valued at about $32,000. Institutional investors and hedge funds own 72.29% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research firms recently commented on SBUX. Robert W. Baird restated a “neutral” rating and issued a $85.00 price objective (down previously from $114.00) on shares of Starbucks in a report on Monday, April 7th. TD Securities restated a “hold” rating and issued a $90.00 price objective on shares of Starbucks in a report on Monday. Jefferies Financial Group upgraded Starbucks from an “underperform” rating to a “hold” rating and set a $76.00 price objective on the stock in a report on Wednesday, April 9th. Baird R W downgraded Starbucks from a “strong-buy” rating to a “hold” rating in a report on Monday, April 7th. Finally, Barclays dropped their price objective on Starbucks from $106.00 to $98.00 and set an “overweight” 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 assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $98.96.
Starbucks Trading Down 0.8%
SBUX opened at $92.34 on Tuesday. Starbucks Corporation has a 1-year low of $71.55 and a 1-year high of $117.46. The stock has a market capitalization of $104.94 billion, a price-to-earnings ratio of 33.46, a P/E/G ratio of 4.74 and a beta of 1.00. The business has a 50 day moving average of $86.02 and a 200-day moving average of $94.48.
Starbucks (NASDAQ:SBUX – Get Free Report) last issued its earnings results on Tuesday, April 29th. The coffee company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.10). The firm had revenue of $8.76 billion during the quarter, compared to the consensus estimate of $8.90 billion. Starbucks had a negative return on equity of 42.14% and a net margin of 8.61%. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period last year, the business earned $0.68 earnings per share. Equities analysts predict that Starbucks Corporation will post 2.99 EPS for the current 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.
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