Avior Wealth Management LLC Reduces Stock Holdings in Starbucks Corporation (NASDAQ:SBUX)

Avior Wealth Management LLC decreased its stake in Starbucks Corporation (NASDAQ:SBUX) by 37.8% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 7,756 shares of the coffee company’s stock after selling 4,717 shares during the quarter. Avior Wealth Management LLC’s holdings in Starbucks were worth $761,000 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. purchased a new position in shares of Starbucks in the 4th quarter worth approximately $25,000. Graney & King LLC purchased a new position in shares of Starbucks in the 4th quarter worth approximately $26,000. Runnymede Capital Advisors Inc. purchased a new position in shares of Starbucks in the 4th quarter worth approximately $27,000. Marshall Investment Management LLC purchased a new position in shares of Starbucks in the 4th quarter worth approximately $30,000. Finally, Noble Wealth Management PBC purchased a new position in shares of Starbucks in the 4th quarter worth approximately $30,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Citigroup raised their price target on Starbucks from $84.00 to $95.00 and gave the stock a “neutral” rating in a research note on Thursday, June 12th. UBS Group decreased their price target on Starbucks from $105.00 to $90.00 and set a “neutral” rating for the company in a research note on Monday, April 28th. Royal Bank Of Canada raised their price target on Starbucks from $95.00 to $100.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 11th. TD Cowen reissued a “hold” rating and set a $90.00 price target on shares of Starbucks in a research note on Thursday, May 29th. Finally, Cowen lowered Starbucks from a “buy” rating to a “hold” rating in a research note on Thursday, May 29th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $98.96.

Starbucks Trading Up 0.9%

SBUX opened at $93.12 on Friday. The firm has a market cap of $105.82 billion, a price-to-earnings ratio of 33.74, a PEG ratio of 4.74 and a beta of 1.00. Starbucks Corporation has a 12 month low of $71.55 and a 12 month high of $117.46. The stock has a fifty day moving average price of $85.88 and a 200-day moving average price of $94.57.

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). The company had revenue of $8.76 billion during the quarter, compared to the consensus estimate of $8.90 billion. Starbucks had a negative return on equity of 42.14% and a net margin of 8.61%. The company’s revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.68 earnings per share. On average, equities research analysts forecast that Starbucks Corporation will post 2.99 EPS for the current year.

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.