Starbucks Co. (NASDAQ:SBUX) Holdings Lowered by Elevation Point Wealth Partners LLC

Elevation Point Wealth Partners LLC lessened its stake in Starbucks Co. (NASDAQ:SBUX) by 13.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,543 shares of the coffee company’s stock after selling 850 shares during the quarter. Elevation Point Wealth Partners LLC’s holdings in Starbucks were worth $544,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in SBUX. Norges Bank acquired a new position in Starbucks in the 4th quarter valued at approximately $1,244,812,000. Capital World Investors increased its stake in Starbucks by 20.1% in the 4th quarter. Capital World Investors now owns 54,924,230 shares of the coffee company’s stock valued at $5,011,796,000 after buying an additional 9,174,682 shares during the period. FMR LLC increased its stake in Starbucks by 27.0% in the 4th quarter. FMR LLC now owns 25,128,649 shares of the coffee company’s stock valued at $2,292,989,000 after buying an additional 5,348,790 shares during the period. Capital Research Global Investors increased its stake in Starbucks by 167.6% in the 4th quarter. Capital Research Global Investors now owns 5,690,198 shares of the coffee company’s stock valued at $519,230,000 after buying an additional 3,563,942 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in Starbucks in the 4th quarter valued at approximately $284,283,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Trading Down 1.1%

NASDAQ:SBUX opened at $93.26 on Monday. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $117.46. The firm’s fifty day simple moving average is $85.17 and its 200 day simple moving average is $94.84. The firm has a market capitalization of $105.98 billion, a PE ratio of 30.08, a PEG ratio of 3.59 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, April 29th. The coffee company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.10). Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. The company had revenue of $8.76 billion during the quarter, compared to the consensus estimate of $8.90 billion. During the same period last year, the company earned $0.68 earnings per share. Starbucks’s revenue for the quarter was up 2.3% on a year-over-year basis. As a group, analysts anticipate that Starbucks Co. will post 2.99 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have weighed in on SBUX. Barclays dropped their price objective on shares of Starbucks from $106.00 to $98.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 30th. Cowen lowered shares of Starbucks from a “buy” rating to a “hold” rating in a research note on Thursday, May 29th. TD Securities restated a “hold” rating and set a $90.00 price target on shares of Starbucks in a research note on Wednesday, June 11th. Robert W. Baird restated a “neutral” rating and set a $85.00 price target (down previously from $114.00) on shares of Starbucks in a research note on Monday, April 7th. Finally, BMO Capital Markets dropped their price target on shares of Starbucks from $115.00 to $100.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 30th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Starbucks presently has an average rating of “Hold” and a consensus price target of $98.96.

About Starbucks

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.