Martin Capital Advisors LLP Cuts Stake in Starbucks Corporation (NASDAQ:SBUX)

Martin Capital Advisors LLP lowered its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 2.4% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 32,329 shares of the coffee company’s stock after selling 780 shares during the quarter. Starbucks accounts for 2.2% of Martin Capital Advisors LLP’s investment portfolio, making the stock its 11th largest holding. Martin Capital Advisors LLP’s holdings in Starbucks were worth $3,171,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in SBUX. Norges Bank purchased a new stake in shares of Starbucks during the fourth quarter valued at approximately $1,244,812,000. Capital World Investors boosted its holdings in shares of Starbucks by 20.1% during the fourth quarter. Capital World Investors now owns 54,924,230 shares of the coffee company’s stock valued at $5,011,796,000 after acquiring an additional 9,174,682 shares during the period. FMR LLC boosted its holdings in shares of Starbucks by 27.0% during the fourth 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 period. Capital Research Global Investors raised its stake in shares of Starbucks by 167.6% during the fourth quarter. Capital Research Global Investors now owns 5,690,198 shares of the coffee company’s stock valued at $519,230,000 after purchasing an additional 3,563,942 shares in the last quarter. Finally, Toronto Dominion Bank raised its position in Starbucks by 629.5% in the fourth quarter. Toronto Dominion Bank now owns 3,190,114 shares of the coffee company’s stock worth $291,097,000 after acquiring an additional 2,752,809 shares in the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Stock Down 0.2%

SBUX stock opened at $94.94 on Friday. The firm has a market cap of $107.89 billion, a PE ratio of 34.40, a price-to-earnings-growth ratio of 4.87 and a beta of 1.02. Starbucks Corporation has a twelve month low of $71.55 and a twelve month high of $117.46. The business has a 50 day moving average of $89.10 and a 200 day moving average of $94.49.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Tuesday, April 29th. The coffee company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.10). The business 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%. Starbucks’s revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.68 earnings per share. On average, research analysts expect that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Cowen restated a “hold” rating on shares of Starbucks in a report on Tuesday, June 24th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $95.00 target price (up previously from $85.00) on shares of Starbucks in a research note on Thursday, June 12th. Barclays reaffirmed an “overweight” rating and set a $108.00 target price (up previously from $98.00) on shares of Starbucks in a research note on Thursday, June 26th. Baird R W cut Starbucks from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 7th. Finally, Royal Bank Of Canada lifted their target price on Starbucks from $95.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, June 11th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, Starbucks currently has an average rating of “Hold” and a consensus price target of $98.73.

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.