Starbucks Corporation (NASDAQ:SBUX) Stake Cut by Sawyer & Company Inc

Sawyer & Company Inc reduced its holdings in Starbucks Corporation (NASDAQ:SBUX) by 2.3% in the 1st quarter, Holdings Channel reports. The fund owned 28,260 shares of the coffee company’s stock after selling 670 shares during the period. Sawyer & Company Inc’s holdings in Starbucks were worth $2,772,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of SBUX. University of Texas Texas AM Investment Management Co. acquired a new position in Starbucks in the 4th quarter worth about $25,000. Graney & King LLC acquired a new position in Starbucks in the 4th quarter worth about $26,000. Runnymede Capital Advisors Inc. acquired a new position in Starbucks in the 4th quarter worth about $27,000. Marshall Investment Management LLC acquired a new position in Starbucks in the 4th quarter worth about $30,000. Finally, Noble Wealth Management PBC acquired a new position in Starbucks in the 4th quarter worth about $30,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Stock Up 0.9%

SBUX opened at $93.12 on Friday. The firm has a market capitalization of $105.82 billion, a P/E ratio of 33.74, a price-to-earnings-growth ratio of 4.70 and a beta of 1.00. The stock’s 50 day moving average price is $85.88 and its two-hundred day moving average price is $94.61. Starbucks Corporation has a 12-month low of $71.55 and a 12-month high of $117.46.

Starbucks (NASDAQ:SBUX) last released its 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). Starbucks had a net margin of 8.61% and a negative return on equity of 42.14%. The business had revenue of $8.76 billion during the quarter, compared to analyst estimates of $8.90 billion. During the same period last year, the business earned $0.68 EPS. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. As a group, analysts anticipate that Starbucks Corporation will post 2.99 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have weighed in on SBUX. TD Cowen reaffirmed a “hold” rating and issued a $90.00 target price on shares of Starbucks in a research report on Thursday, May 29th. TD Securities reaffirmed a “hold” rating and issued a $90.00 target price on shares of Starbucks in a research report on Wednesday, June 11th. Barclays cut their price objective on Starbucks from $106.00 to $98.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 30th. BMO Capital Markets cut their price objective on Starbucks from $115.00 to $100.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 30th. Finally, Wall Street Zen downgraded Starbucks from a “hold” rating to a “sell” rating in a research note on Thursday, May 22nd. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, Starbucks presently has a consensus rating of “Hold” and an average price target of $98.96.

Starbucks 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.