Fischer Financial Services Inc. Trims Stock Position in Starbucks Corporation $SBUX

Fischer Financial Services Inc. lessened its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 11.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,210 shares of the coffee company’s stock after selling 1,138 shares during the period. Fischer Financial Services Inc.’s holdings in Starbucks were worth $843,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Hughes Financial Services LLC purchased a new position in Starbucks in the first quarter valued at $27,000. CBIZ Investment Advisory Services LLC increased its holdings in Starbucks by 125.2% in the first quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company’s stock valued at $28,000 after buying an additional 159 shares in the last quarter. McClarren Financial Advisors Inc. purchased a new position in Starbucks in the first quarter valued at $29,000. Nova Wealth Management Inc. increased its holdings in Starbucks by 285.4% in the first quarter. Nova Wealth Management Inc. now owns 316 shares of the coffee company’s stock valued at $31,000 after buying an additional 234 shares in the last quarter. Finally, Activest Wealth Management increased its holdings in Starbucks by 78.0% in the first quarter. Activest Wealth Management now owns 331 shares of the coffee company’s stock valued at $32,000 after buying an additional 145 shares in the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Piper Sandler set a $105.00 price objective on shares of Starbucks and gave the company an “overweight” rating in a report on Wednesday, July 30th. JPMorgan Chase & Co. lifted their price objective on shares of Starbucks from $100.00 to $105.00 and gave the company an “overweight” rating in a report on Wednesday, July 30th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $95.00 price objective (up previously from $85.00) on shares of Starbucks in a report on Thursday, June 12th. Wells Fargo & Company lifted their price objective on shares of Starbucks from $100.00 to $105.00 and gave the company an “overweight” rating in a report on Wednesday, July 30th. Finally, Cowen reaffirmed a “hold” rating on shares of Starbucks in a report on Tuesday, June 24th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $104.40.

Starbucks Stock Down 0.5%

Shares of NASDAQ SBUX opened at $83.83 on Friday. The company’s 50-day simple moving average is $88.68 and its 200-day simple moving average is $89.15. Starbucks Corporation has a 52-week low of $75.50 and a 52-week high of $117.46. The firm has a market cap of $95.29 billion, a price-to-earnings ratio of 36.13, a price-to-earnings-growth ratio of 5.04 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Tuesday, July 29th. The coffee company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.14). Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The company had revenue of $9.46 billion during the quarter, compared to analyst estimates of $9.29 billion. During the same quarter last year, the business earned $0.93 EPS. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. Equities research analysts anticipate that Starbucks Corporation will post 2.99 EPS for the current fiscal 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.