Starbucks Corporation (NASDAQ:SBUX) Shares Sold by Parcion Private Wealth LLC

by · The Markets Daily

Parcion Private Wealth LLC lowered its stake in Starbucks Corporation (NASDAQ:SBUX – Free Report) by 4.2% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 13,487 shares of the coffee company’s stock after selling 591 shares during the quarter. Parcion Private Wealth LLC’s holdings in Starbucks were worth $1,323,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SBUX. Brighton Jones LLC grew its holdings in shares of Starbucks by 86.5% during the 4th quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company’s stock worth $16,126,000 after purchasing an additional 81,952 shares during the period. Proficio Capital Partners LLC grew its holdings in shares of Starbucks by 10.3% during the 4th quarter. Proficio Capital Partners LLC now owns 7,647 shares of the coffee company’s stock worth $698,000 after purchasing an additional 714 shares during the period. Choate Investment Advisors grew its holdings in shares of Starbucks by 5.3% during the 4th quarter. Choate Investment Advisors now owns 3,589 shares of the coffee company’s stock worth $327,000 after purchasing an additional 181 shares during the period. Harbour Investments Inc. grew its holdings in shares of Starbucks by 4.8% during the 4th quarter. Harbour Investments Inc. now owns 14,074 shares of the coffee company’s stock worth $1,284,000 after purchasing an additional 643 shares during the period. Finally, GWN Securities Inc. purchased a new stake in shares of Starbucks during the 4th quarter worth about $219,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Trading Down 1.0%

SBUX stock opened at $92.48 on Wednesday. The firm has a market cap of $105.09 billion, a P/E ratio of 33.51, a P/E/G ratio of 4.78 and a beta of 1.02. Starbucks Corporation has a 12-month low of $71.55 and a 12-month high of $117.46. The stock’s 50 day simple moving average is $89.53 and its 200 day simple moving average is $94.53.

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

Analyst Ratings Changes

A number of brokerages have recently issued reports on SBUX. UBS Group decreased their target price on Starbucks from $105.00 to $90.00 and set a “neutral” rating for the company in a report on Monday, April 28th. Royal Bank Of Canada upped their price target on Starbucks from $95.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, June 11th. Barclays restated an “overweight” rating and issued a $108.00 price target (up previously from $98.00) on shares of Starbucks in a report on Thursday, June 26th. Robert W. Baird restated a “neutral” rating and issued a $85.00 price target (down previously from $114.00) on shares of Starbucks in a report on Monday, April 7th. Finally, Evercore ISI restated an “outperform” rating and issued a $105.00 price target (up previously from $95.00) on shares of Starbucks in a report on Tuesday, June 24th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Starbucks has a consensus rating of “Hold” and an average price target of $98.92.

View Our Latest Report on SBUX

Starbucks Company Profile

(Free Report)

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.

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