Flagship Harbor Advisors LLC Cuts Stock Holdings in Starbucks Corporation (NASDAQ:SBUX)

Flagship Harbor Advisors LLC lessened its holdings in Starbucks Corporation (NASDAQ:SBUX) by 45.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,063 shares of the coffee company’s stock after selling 2,593 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in Starbucks were worth $300,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. University of Texas Texas AM Investment Management Co. purchased a new position in Starbucks in the fourth quarter worth $25,000. Graney & King LLC purchased a new position in shares of Starbucks in the 4th quarter valued at about $26,000. Runnymede Capital Advisors Inc. acquired a new stake in shares of Starbucks in the fourth quarter valued at about $27,000. Noble Wealth Management PBC acquired a new position in Starbucks during the fourth quarter worth about $30,000. Finally, Kapitalo Investimentos Ltda purchased a new position in Starbucks in the fourth quarter valued at about $32,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Trading Up 0.8%

SBUX opened at $91.84 on Friday. Starbucks Corporation has a twelve month low of $71.55 and a twelve month high of $117.46. The firm has a market cap of $104.37 billion, a price-to-earnings ratio of 33.28, a PEG ratio of 4.65 and a beta of 1.00. The company has a fifty day simple moving average of $86.59 and a 200 day simple moving average of $94.39.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Tuesday, April 29th. The coffee company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.10). Starbucks had a negative return on equity of 42.14% and a net margin of 8.61%. The business had revenue of $8.76 billion during the quarter, compared to analyst estimates of $8.90 billion. During the same quarter last year, the firm posted $0.68 EPS. The company’s revenue was up 2.3% compared to the same quarter last year. On average, analysts forecast that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on SBUX. TD Securities reissued a “hold” rating and set a $90.00 price target on shares of Starbucks in a research note on Monday. Stifel Nicolaus lowered their target price on Starbucks from $103.00 to $92.00 and set a “buy” rating on the stock in a report on Wednesday, April 30th. Argus raised Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price target for the company in a research note on Tuesday, March 18th. Robert W. Baird reissued a “neutral” rating and issued a $85.00 price objective (down from $114.00) on shares of Starbucks in a research note on Monday, April 7th. Finally, Guggenheim dropped their target price on shares of Starbucks from $95.00 to $83.00 and set a “neutral” rating for the company in a report on Tuesday, April 29th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $98.76.

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.