Integrated Advisors Network LLC Trims Holdings in Starbucks Co. (NASDAQ:SBUX)

Integrated Advisors Network LLC decreased its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 2.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 36,569 shares of the coffee company’s stock after selling 761 shares during the quarter. Integrated Advisors Network LLC’s holdings in Starbucks were worth $3,587,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in SBUX. Petredis Investment Advisors LLC raised its position in Starbucks by 1.7% in the first quarter. Petredis Investment Advisors LLC now owns 18,496 shares of the coffee company’s stock valued at $1,814,000 after purchasing an additional 311 shares during the period. Avanza Fonder AB raised its position in Starbucks by 4.3% in the first quarter. Avanza Fonder AB now owns 90,156 shares of the coffee company’s stock valued at $8,962,000 after purchasing an additional 3,724 shares during the period. SJS Investment Consulting Inc. raised its position in Starbucks by 3,094.7% in the first quarter. SJS Investment Consulting Inc. now owns 607 shares of the coffee company’s stock valued at $60,000 after purchasing an additional 588 shares during the period. Accurate Wealth Management LLC purchased a new stake in Starbucks in the first quarter valued at $336,000. Finally, Simplicity Wealth LLC raised its position in Starbucks by 383.7% in the first quarter. Simplicity Wealth LLC now owns 11,489 shares of the coffee company’s stock valued at $1,127,000 after purchasing an additional 9,114 shares during the period. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Stock Up 4.3%

Shares of NASDAQ SBUX opened at $95.39 on Thursday. The stock has a market cap of $108.40 billion, a PE ratio of 30.77, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $117.46. The business has a 50-day moving average price of $84.61 and a 200 day moving average price of $95.03.

Starbucks (NASDAQ:SBUX) last announced 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). The firm had revenue of $8.76 billion during the quarter, compared to analyst estimates of $8.90 billion. Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period last year, the company earned $0.68 earnings per share. Sell-side analysts anticipate that Starbucks Co. will post 2.99 earnings per share for the current year.

Analysts Set New Price Targets

SBUX has been the topic of a number of research analyst reports. The Goldman Sachs Group downgraded Starbucks from a “buy” rating to a “neutral” rating and reduced their target price for the company from $103.00 to $85.00 in a research report on Wednesday, April 30th. Barclays reduced their target price on Starbucks from $106.00 to $98.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 30th. JPMorgan Chase & Co. cut their price objective on Starbucks from $105.00 to $100.00 and set an “overweight” rating on the stock in a report on Wednesday, April 30th. Citigroup cut their price objective on Starbucks from $88.00 to $84.00 and set a “neutral” rating on the stock in a report on Wednesday, April 30th. Finally, Cowen downgraded Starbucks from a “buy” rating to a “hold” rating in a report on Thursday, May 29th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, Starbucks currently has an average rating of “Hold” and a consensus target price of $98.12.

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.