Bartlett & CO. Wealth Management LLC Sells 3,620 Shares of Starbucks Corporation $SBUX

Bartlett & CO. Wealth Management LLC lessened its position in Starbucks Corporation (NASDAQ:SBUX) by 5.4% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 63,828 shares of the coffee company’s stock after selling 3,620 shares during the period. Bartlett & CO. Wealth Management LLC’s holdings in Starbucks were worth $5,849,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. PFG Investments LLC lifted its holdings in shares of Starbucks by 84.4% in the 2nd quarter. PFG Investments LLC now owns 33,139 shares of the coffee company’s stock worth $3,037,000 after purchasing an additional 15,170 shares in the last quarter. Brueske Advisory Services LLC raised its holdings in Starbucks by 1.7% during the second quarter. Brueske Advisory Services LLC now owns 17,497 shares of the coffee company’s stock worth $1,603,000 after buying an additional 299 shares during the last quarter. Sicart Associates LLC raised its holdings in Starbucks by 1.8% during the second quarter. Sicart Associates LLC now owns 19,753 shares of the coffee company’s stock worth $1,810,000 after buying an additional 345 shares during the last quarter. Alley Investment Management Company LLC raised its holdings in Starbucks by 2.3% during the second quarter. Alley Investment Management Company LLC now owns 153,721 shares of the coffee company’s stock worth $14,085,000 after buying an additional 3,511 shares during the last quarter. Finally, Union Bancaire Privee UBP SA increased its position in shares of Starbucks by 5.5% during the second quarter. Union Bancaire Privee UBP SA now owns 3,375 shares of the coffee company’s stock worth $309,000 after acquiring an additional 175 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on SBUX. Baird R W raised shares of Starbucks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 12th. TD Cowen restated a “hold” rating and issued a $95.00 target price on shares of Starbucks in a report on Thursday, September 25th. Loop Capital set a $165.00 target price on Starbucks in a report on Tuesday, August 12th. Barclays increased their price target on Starbucks from $106.00 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, July 30th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $103.00 price target (up from $95.00) on shares of Starbucks in a research report on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $104.00.

Starbucks Trading Down 1.2%

Shares of SBUX opened at $84.60 on Wednesday. The company has a market capitalization of $96.16 billion, a price-to-earnings ratio of 36.47, a PEG ratio of 5.15 and a beta of 1.00. The stock has a 50 day moving average of $88.09 and a 200 day moving average of $88.80. Starbucks Corporation has a 12 month low of $75.50 and a 12 month high of $117.46.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Tuesday, July 29th. The coffee company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.14). The business had revenue of $9.46 billion during the quarter, compared to the consensus estimate of $9.29 billion. Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.93 EPS. As a group, equities research analysts predict that Starbucks Corporation will post 2.99 earnings per share 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.