DDD Partners LLC Cuts Stock Position in Starbucks Corporation (NASDAQ:SBUX)

DDD Partners LLC lessened its position in Starbucks Corporation (NASDAQ:SBUX) by 9.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,595 shares of the coffee company’s stock after selling 591 shares during the quarter. DDD Partners LLC’s holdings in Starbucks were worth $549,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Starbucks during the 4th quarter worth about $25,000. Graney & King LLC acquired a new position in shares of Starbucks during the 4th quarter worth about $26,000. Runnymede Capital Advisors Inc. acquired a new position in shares of Starbucks during the 4th quarter worth about $27,000. Hughes Financial Services LLC acquired a new position in shares of Starbucks during the 1st quarter worth about $27,000. Finally, Kapitalo Investimentos Ltda acquired a new position in shares of Starbucks during the 4th quarter worth about $32,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Guggenheim decreased their target price on Starbucks from $95.00 to $83.00 and set a “neutral” rating for the company in a research report on Tuesday, April 29th. BMO Capital Markets decreased their target price on Starbucks from $115.00 to $100.00 and set an “outperform” rating for the company in a research report on Wednesday, April 30th. TD Securities reissued a “hold” rating and issued a $90.00 target price on shares of Starbucks in a research report on Monday, June 23rd. Stifel Nicolaus upped their target price on Starbucks from $92.00 to $105.00 and gave the company a “buy” rating in a research report on Friday, July 11th. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $95.00 target price (up from $85.00) on shares of Starbucks in a research report on Thursday, June 12th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, Starbucks currently has an average rating of “Hold” and an average target price of $98.92.

Starbucks Stock Performance

Starbucks stock opened at $92.48 on Wednesday. The stock has a fifty day moving average of $89.53 and a two-hundred day moving average of $94.53. The company has a market capitalization of $105.09 billion, a price-to-earnings ratio of 33.51, a PEG ratio of 4.78 and a beta of 1.02. Starbucks Corporation has a fifty-two week low of $71.55 and a fifty-two week high of $117.46.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results 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). The company had revenue of $8.76 billion for the quarter, compared to analysts’ expectations of $8.90 billion. Starbucks had a negative return on equity of 42.14% and a net margin of 8.61%. The business’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.68 EPS. On average, analysts forecast that Starbucks Corporation will post 2.99 EPS 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.