Starbucks Corporation $SBUX Shares Sold by Bennett Selby Investments LP

Bennett Selby Investments LP cut its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 4.0% in the 2nd quarter, Holdings Channel reports. The fund owned 38,923 shares of the coffee company’s stock after selling 1,611 shares during the period. Starbucks accounts for about 1.3% of Bennett Selby Investments LP’s investment portfolio, making the stock its 17th biggest position. Bennett Selby Investments LP’s holdings in Starbucks were worth $3,566,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. Brown Lisle Cummings Inc. grew its stake in Starbucks by 1.4% in the second quarter. Brown Lisle Cummings Inc. now owns 8,293 shares of the coffee company’s stock worth $760,000 after purchasing an additional 117 shares in the last quarter. Benin Management CORP grew its stake in Starbucks by 0.7% in the first quarter. Benin Management CORP now owns 16,575 shares of the coffee company’s stock worth $1,626,000 after purchasing an additional 120 shares in the last quarter. Ted Buchan & Co grew its stake in Starbucks by 1.5% in the first quarter. Ted Buchan & Co now owns 8,066 shares of the coffee company’s stock worth $791,000 after purchasing an additional 120 shares in the last quarter. Alexander Labrunerie & CO. Inc. grew its stake in Starbucks by 3.5% in the first quarter. Alexander Labrunerie & CO. Inc. now owns 3,561 shares of the coffee company’s stock worth $349,000 after purchasing an additional 122 shares in the last quarter. Finally, Private Wealth Management Group LLC grew its stake in Starbucks by 13.3% in the first quarter. Private Wealth Management Group LLC now owns 1,056 shares of the coffee company’s stock worth $104,000 after purchasing an additional 124 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Trading Up 2.7%

SBUX opened at $85.64 on Tuesday. The business’s 50 day moving average is $88.34 and its 200-day moving average is $88.83. The stock has a market cap of $97.35 billion, a PE ratio of 36.91, a price-to-earnings-growth ratio of 5.01 and a beta of 1.00. Starbucks Corporation has a twelve month low of $75.50 and a twelve month high of $117.46.

Starbucks (NASDAQ:SBUX) last announced its earnings results 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 company 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 business’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.93 EPS. As a group, analysts forecast that Starbucks Corporation will post 2.99 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Bank of America raised their target price on shares of Starbucks from $101.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, July 18th. Robert W. Baird raised shares of Starbucks from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $100.00 to $115.00 in a report on Tuesday, August 12th. Guggenheim raised their target price on shares of Starbucks from $79.00 to $90.00 and gave the stock a “neutral” rating in a report on Thursday, July 31st. TD Cowen reissued a “hold” rating and issued a $95.00 target price on shares of Starbucks in a report on Thursday, September 25th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $115.00 target price (up previously from $100.00) on shares of Starbucks in a report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Starbucks presently has a consensus rating of “Moderate Buy” and a consensus target price of $104.00.

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.