Signaturefd LLC Trims Holdings in Starbucks Corporation $SBUX

Signaturefd LLC lessened its stake in Starbucks Corporation (NASDAQ:SBUX) by 7.4% during the 2nd quarter, Holdings Channel.com reports. The firm owned 23,177 shares of the coffee company’s stock after selling 1,847 shares during the quarter. Signaturefd LLC’s holdings in Starbucks were worth $2,124,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brighton Jones LLC increased its position in shares of Starbucks by 86.5% during the fourth 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 in the last quarter. Versant Capital Management Inc boosted its position in shares of Starbucks by 71.3% in the 1st quarter. Versant Capital Management Inc now owns 4,062 shares of the coffee company’s stock valued at $398,000 after purchasing an additional 1,691 shares during the period. Quent Capital LLC lifted its position in Starbucks by 4.5% during the 1st quarter. Quent Capital LLC now owns 3,033 shares of the coffee company’s stock worth $297,000 after acquiring an additional 130 shares during the period. GAMMA Investing LLC raised its holdings in Starbucks by 11,859.8% during the first quarter. GAMMA Investing LLC now owns 2,019,777 shares of the coffee company’s stock worth $198,120,000 after purchasing an additional 2,002,889 shares during the last quarter. Finally, Lantz Financial LLC increased its position in Starbucks by 27.5% during the first quarter. Lantz Financial LLC now owns 3,675 shares of the coffee company’s stock worth $360,000 after buying an additional 793 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on SBUX. UBS Group boosted their price target on Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 30th. Piper Sandler set a $105.00 price target on Starbucks and gave the company an “overweight” rating in a research report on Wednesday, July 30th. Guggenheim raised their price target on shares of Starbucks from $79.00 to $90.00 and gave the company a “neutral” rating in a report on Thursday, July 31st. TD Securities reaffirmed a “hold” rating and issued a $90.00 target price on shares of Starbucks in a report on Monday, June 23rd. Finally, Sanford C. Bernstein raised their price target on shares of Starbucks from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, July 2nd. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $104.40.

Starbucks Stock Performance

SBUX stock opened at $83.39 on Friday. The firm has a fifty day moving average price of $88.48 and a 200 day moving average price of $88.97. The firm has a market cap of $94.79 billion, a PE ratio of 35.94, a price-to-earnings-growth ratio of 4.98 and a beta of 1.00. Starbucks Corporation has a fifty-two week low of $75.50 and a fifty-two week high of $117.46.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Tuesday, July 29th. The coffee company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.14). Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%.The firm had revenue of $9.46 billion during the quarter, compared to the consensus estimate of $9.29 billion. During the same quarter in the prior year, the firm posted $0.93 earnings per share. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, equities analysts predict 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.