Global Trust Asset Management LLC Sells 527 Shares of Starbucks Corporation $SBUX

Global Trust Asset Management LLC decreased its stake in shares of Starbucks Corporation (NASDAQ:SBUX) by 65.1% in the 2nd quarter, Holdings Channel reports. The fund owned 282 shares of the coffee company’s stock after selling 527 shares during the quarter. Global Trust Asset Management LLC’s holdings in Starbucks were worth $26,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Brown Lisle Cummings Inc. boosted its holdings in Starbucks by 1.4% during the second quarter. Brown Lisle Cummings Inc. now owns 8,293 shares of the coffee company’s stock worth $760,000 after purchasing an additional 117 shares during the last quarter. Benin Management CORP boosted its holdings in Starbucks by 0.7% during the first quarter. Benin Management CORP now owns 16,575 shares of the coffee company’s stock worth $1,626,000 after purchasing an additional 120 shares during the last quarter. Ted Buchan & Co boosted its holdings in Starbucks by 1.5% during the first quarter. Ted Buchan & Co now owns 8,066 shares of the coffee company’s stock worth $791,000 after purchasing an additional 120 shares during the last quarter. Alexander Labrunerie & CO. Inc. boosted its holdings in Starbucks by 3.5% during the first quarter. Alexander Labrunerie & CO. Inc. now owns 3,561 shares of the coffee company’s stock worth $349,000 after purchasing an additional 122 shares during the last quarter. Finally, Private Wealth Management Group LLC boosted its holdings in Starbucks by 13.3% during the first quarter. Private Wealth Management Group LLC now owns 1,056 shares of the coffee company’s stock worth $104,000 after purchasing an additional 124 shares during the last quarter. Institutional investors own 72.29% of the company’s stock.

Starbucks Stock Performance

NASDAQ SBUX opened at $85.64 on Tuesday. The firm has a 50-day moving average of $88.34 and a 200-day moving average of $88.83. The stock has a market cap of $97.35 billion, a PE ratio of 36.91, a P/E/G ratio of 5.01 and a beta of 1.00. Starbucks Corporation has a 52-week low of $75.50 and a 52-week high of $117.46.

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

Analyst Ratings Changes

Several research analysts recently commented on SBUX shares. TD Cowen restated a “hold” rating and set a $95.00 target price on shares of Starbucks in a report on Thursday, September 25th. BTIG Research set a $105.00 target price on shares of Starbucks in a report on Thursday. BMO Capital Markets reiterated an “outperform” rating and issued a $115.00 price target (up previously from $100.00) on shares of Starbucks in a research note on Wednesday, July 30th. TD Securities reiterated a “hold” rating and issued a $90.00 price target on shares of Starbucks in a research note on Monday, June 23rd. Finally, CICC Research began coverage on shares of Starbucks in a research note on Monday, June 30th. They issued an “outperform” rating and a $100.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Starbucks currently has a consensus rating of “Moderate Buy” and a consensus price target of $104.00.

Starbucks 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.