PSI Advisors LLC Sells 160 Shares of Starbucks Corporation (NASDAQ:SBUX)

PSI Advisors LLC decreased its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 5.3% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund 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 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. boosted its position in Starbucks by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 111,106,209 shares of the coffee company’s stock valued at $10,138,442,000 after buying an additional 784,432 shares during the last quarter. Capital World Investors lifted its holdings in shares of Starbucks by 20.1% in the 4th quarter. Capital World Investors now owns 54,924,230 shares of the coffee company’s stock valued at $5,011,796,000 after buying an additional 9,174,682 shares during the period. FMR LLC boosted its position in Starbucks by 27.0% in the 4th quarter. FMR LLC now owns 25,128,649 shares of the coffee company’s stock worth $2,292,989,000 after purchasing an additional 5,348,790 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Starbucks by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 24,826,001 shares of the coffee company’s stock valued at $2,259,516,000 after purchasing an additional 548,245 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in Starbucks by 4.7% during the fourth quarter. Wellington Management Group LLP now owns 15,868,817 shares of the coffee company’s stock worth $1,448,030,000 after buying an additional 718,880 shares in the last quarter. Institutional investors own 72.29% of the company’s stock.

Starbucks Trading Down 2.0%

NASDAQ SBUX opened at $91.59 on Wednesday. The company has a market cap of $104.08 billion, a P/E ratio of 33.18, a P/E/G ratio of 4.69 and a beta of 1.00. The company has a fifty day simple moving average of $85.50 and a 200 day simple moving average of $94.75. Starbucks Corporation has a 1 year low of $71.55 and a 1 year high of $117.46.

Starbucks (NASDAQ:SBUX) last released 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). Starbucks had a net margin of 8.61% and a negative return on equity of 42.14%. The business had revenue of $8.76 billion during the quarter, compared to analyst estimates of $8.90 billion. During the same period last year, the business earned $0.68 EPS. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. Equities research analysts forecast that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Wall Street Analyst Weigh In

SBUX has been the subject of several research analyst reports. Barclays reduced their target price on Starbucks from $106.00 to $98.00 and set an “overweight” rating for the company in a research note on Wednesday, April 30th. Royal Bank Of Canada boosted their price objective on Starbucks from $95.00 to $100.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 11th. TD Securities reaffirmed a “hold” rating and set a $90.00 target price on shares of Starbucks in a research note on Wednesday, June 11th. Guggenheim lowered their target price on shares of Starbucks from $95.00 to $83.00 and set a “neutral” rating for the company in a research note on Tuesday, April 29th. Finally, Cowen cut Starbucks from a “buy” rating to a “hold” rating in a research note on Thursday, May 29th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $98.96.

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.