Resonant Capital Advisors LLC Sells 14,847 Shares of Starbucks Corporation (NASDAQ:SBUX)

Resonant Capital Advisors LLC cut its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 77.7% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,269 shares of the coffee company’s stock after selling 14,847 shares during the period. Resonant Capital Advisors LLC’s holdings in Starbucks were worth $419,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. University of Texas Texas AM Investment Management Co. bought a new stake in Starbucks during the 4th quarter valued at $25,000. Graney & King LLC bought a new stake in Starbucks during the fourth quarter valued at about $26,000. Runnymede Capital Advisors Inc. purchased a new position in Starbucks in the fourth quarter valued at about $27,000. Kapitalo Investimentos Ltda purchased a new position in Starbucks in the fourth quarter valued at about $32,000. Finally, Ball & Co Wealth Management Inc. bought a new position in Starbucks in the fourth quarter worth about $41,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on SBUX shares. Argus upgraded shares of Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price objective for the company in a research note on Tuesday, March 18th. Citigroup upped their price target on Starbucks from $84.00 to $95.00 and gave the stock a “neutral” rating in a research report on Thursday, June 12th. TD Securities reissued a “hold” rating and issued a $90.00 price objective on shares of Starbucks in a research report on Monday, June 23rd. Evercore ISI restated an “outperform” rating and set a $105.00 target price (up from $95.00) on shares of Starbucks in a research note on Tuesday, June 24th. Finally, Guggenheim decreased their price target on Starbucks from $95.00 to $83.00 and set a “neutral” rating for the company in a research note on Tuesday, April 29th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, Starbucks presently has an average rating of “Hold” and a consensus price target of $98.23.

Starbucks Stock Up 0.3%

Shares of SBUX opened at $94.44 on Friday. The company has a market capitalization of $107.32 billion, a price-to-earnings ratio of 34.22, a PEG ratio of 4.82 and a beta of 1.02. Starbucks Corporation has a 52 week low of $71.55 and a 52 week high of $117.46. The stock’s 50-day moving average price is $87.72 and its 200-day moving average price is $94.27.

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