Ameritas Advisory Services LLC Cuts Position in Starbucks Corporation (NASDAQ:SBUX)

Ameritas Advisory Services LLC lowered its holdings in Starbucks Corporation (NASDAQ:SBUX) by 7.4% in the 1st quarter, Holdings Channel.com reports. The fund owned 20,761 shares of the coffee company’s stock after selling 1,666 shares during the quarter. Ameritas Advisory Services LLC’s holdings in Starbucks were worth $1,972,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. University of Texas Texas AM Investment Management Co. acquired a new stake in Starbucks in the 4th quarter valued at $25,000. Graney & King LLC acquired a new position in shares of Starbucks during the fourth quarter worth about $26,000. Runnymede Capital Advisors Inc. purchased a new stake in shares of Starbucks in the fourth quarter worth about $27,000. Noble Wealth Management PBC acquired a new stake in shares of Starbucks in the fourth quarter valued at about $30,000. Finally, Kapitalo Investimentos Ltda purchased a new stake in shares of Starbucks during the 4th quarter valued at about $32,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Stock Performance

SBUX stock opened at $91.63 on Tuesday. Starbucks Corporation has a 1 year low of $71.55 and a 1 year high of $117.46. The stock has a market capitalization of $104.13 billion, a price-to-earnings ratio of 33.20, a PEG ratio of 4.73 and a beta of 1.00. The stock’s fifty day moving average is $87.02 and its two-hundred day moving average is $94.25.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Tuesday, April 29th. The coffee company reported $0.41 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $8.90 billion. During the same quarter in the prior year, the business earned $0.68 earnings per share. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. As a group, analysts predict that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on SBUX. UBS Group dropped their price objective on shares of Starbucks from $105.00 to $90.00 and set a “neutral” rating on the stock in a research note on Monday, April 28th. TD Cowen reaffirmed a “hold” rating and set a $90.00 price target on shares of Starbucks in a research note on Thursday, May 29th. BMO Capital Markets cut their price objective on shares of Starbucks from $115.00 to $100.00 and set an “outperform” rating on the stock in a report on Wednesday, April 30th. TD Securities restated a “hold” rating and set a $90.00 target price on shares of Starbucks in a research note on Monday, June 23rd. Finally, Baird R W cut Starbucks from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 7th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $98.81.

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.