PSI Advisors LLC Has $280,000 Stake in Starbucks Corporation (NASDAQ:SBUX)

PSI Advisors LLC lowered its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 5.3% during the first quarter, Holdings Channel reports. The institutional investor owned 2,856 shares of the coffee company’s stock after selling 160 shares during the quarter. PSI Advisors LLC’s holdings in Starbucks were worth $280,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the business. Capital & Planning LLC grew its stake in shares of Starbucks by 40.7% in the 4th quarter. Capital & Planning LLC now owns 12,039 shares of the coffee company’s stock valued at $1,099,000 after purchasing an additional 3,483 shares during the period. Brighton Jones LLC grew its holdings in shares of Starbucks by 86.5% in 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 last quarter. Legacy Capital Wealth Partners LLC increased its position in shares of Starbucks by 8.9% during the 4th quarter. Legacy Capital Wealth Partners LLC now owns 2,986 shares of the coffee company’s stock worth $273,000 after purchasing an additional 245 shares in the last quarter. Strategic Financial Concepts LLC bought a new position in Starbucks during the 4th quarter valued at about $62,000. Finally, Valmark Advisers Inc. boosted its position in Starbucks by 2.3% in the fourth quarter. Valmark Advisers Inc. now owns 11,152 shares of the coffee company’s stock valued at $1,018,000 after buying an additional 246 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Analyst Upgrades and Downgrades

SBUX has been the topic of a number of research analyst reports. Cowen lowered Starbucks from a “buy” rating to a “hold” rating in a research report on Thursday, May 29th. The Goldman Sachs Group restated a “neutral” rating and set a $95.00 target price (up previously from $85.00) on shares of Starbucks in a report on Thursday, June 12th. Jefferies Financial Group raised Starbucks from an “underperform” rating to a “hold” rating and set a $76.00 price target for the company in a report on Wednesday, April 9th. JPMorgan Chase & Co. decreased their price objective on shares of Starbucks from $105.00 to $100.00 and set an “overweight” rating on the stock in a report on Wednesday, April 30th. Finally, TD Securities reaffirmed a “hold” rating and issued a $90.00 target price on shares of Starbucks in a research note on Wednesday, June 11th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $98.96.

Starbucks Price Performance

SBUX stock opened at $91.59 on Wednesday. The business’s fifty day moving average price is $85.50 and its two-hundred day moving average price is $94.75. The stock has a market capitalization of $104.08 billion, a price-to-earnings ratio of 33.18, a PEG ratio of 4.69 and a beta of 1.00. Starbucks Corporation has a fifty-two week low of $71.55 and a fifty-two week high of $117.46.

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

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.