Starbucks Corporation (NASDAQ:SBUX) Position Trimmed by Continuum Advisory LLC

Continuum Advisory LLC decreased its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 9.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,810 shares of the coffee company’s stock after selling 836 shares during the period. Continuum Advisory LLC’s holdings in Starbucks were worth $766,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in SBUX. Norges Bank bought a new stake in Starbucks during the fourth quarter valued at $1,244,812,000. Capital World Investors grew its position in shares of Starbucks by 20.1% during the fourth quarter. Capital World Investors now owns 54,924,230 shares of the coffee company’s stock worth $5,011,796,000 after acquiring an additional 9,174,682 shares during the last quarter. FMR LLC grew its position in shares of Starbucks by 27.0% during the fourth quarter. FMR LLC now owns 25,128,649 shares of the coffee company’s stock worth $2,292,989,000 after acquiring an additional 5,348,790 shares during the last quarter. Capital Research Global Investors grew its position in shares of Starbucks by 167.6% during the fourth quarter. Capital Research Global Investors now owns 5,690,198 shares of the coffee company’s stock worth $519,230,000 after acquiring an additional 3,563,942 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Starbucks during the fourth quarter worth about $284,283,000. Institutional investors own 72.29% of the company’s stock.

Starbucks Trading Down 0.8%

Shares of NASDAQ SBUX opened at $92.34 on Tuesday. Starbucks Corporation has a twelve month low of $71.55 and a twelve month high of $117.46. The company has a market capitalization of $104.94 billion, a price-to-earnings ratio of 33.46, a PEG ratio of 4.74 and a beta of 1.00. The firm has a 50-day moving average of $86.02 and a two-hundred day moving average of $94.48.

Starbucks (NASDAQ:SBUX) last posted 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 net margin of 8.61% and a negative return on equity of 42.14%. The firm had revenue of $8.76 billion for the quarter, compared to analysts’ expectations of $8.90 billion. During the same period in the prior year, the company posted $0.68 earnings per share. Starbucks’s quarterly revenue was up 2.3% compared to the same quarter last year. As a group, research analysts predict that Starbucks Corporation will post 2.99 earnings per share for the current year.

Analyst Upgrades and Downgrades

SBUX has been the subject of several recent research reports. JPMorgan Chase & Co. lowered their price target on shares of Starbucks from $105.00 to $100.00 and set an “overweight” rating for the company in a research report on Wednesday, April 30th. Argus upgraded shares of Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price target for the company in a research report on Tuesday, March 18th. Baird R W lowered shares of Starbucks from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 7th. Barclays lowered their price target on shares of Starbucks from $106.00 to $98.00 and set an “overweight” rating for the company in a research report on Wednesday, April 30th. Finally, BMO Capital Markets reduced their price objective on shares of Starbucks from $115.00 to $100.00 and set an “outperform” rating for the company in a report on Wednesday, April 30th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, Starbucks presently has an average rating of “Hold” and an average price target of $98.96.

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.