Laurion Capital Management LP Decreases Position in Starbucks Co. (NASDAQ:SBUX)
Laurion Capital Management LP lessened its stake in Starbucks Co. (NASDAQ:SBUX) by 90.6% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 6,200 shares of the coffee company’s stock after selling 59,878 shares during the period. Laurion Capital Management LP’s holdings in Starbucks were worth $303,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of SBUX. Scholtz & Company LLC increased its stake in shares of Starbucks by 3.7% during the first quarter. Scholtz & Company LLC now owns 25,750 shares of the coffee company’s stock worth $1,491,000 after acquiring an additional 925 shares during the period. Mutual Advisors LLC increased its stake in shares of Starbucks by 5.5% during the first quarter. Mutual Advisors LLC now owns 18,464 shares of the coffee company’s stock worth $1,069,000 after acquiring an additional 959 shares during the period. DDD Partners LLC grew its position in Starbucks by 13.3% during the second quarter. DDD Partners LLC now owns 8,317 shares of the coffee company’s stock worth $406,000 after buying an additional 975 shares during the period. Vontobel Swiss Wealth Advisors AG grew its position in Starbucks by 2.7% during the first quarter. Vontobel Swiss Wealth Advisors AG now owns 36,693 shares of the coffee company’s stock worth $2,124,000 after buying an additional 982 shares during the period. Finally, Signature Wealth Management Group grew its position in Starbucks by 14.9% during the second quarter. Signature Wealth Management Group now owns 7,574 shares of the coffee company’s stock worth $370,000 after buying an additional 985 shares during the period. Hedge funds and other institutional investors own 71.90% of the company’s stock.
Several research analysts have weighed in on the stock. BMO Capital Markets set a $51.00 target price on shares of Starbucks and gave the stock a “hold” rating in a research report on Monday, July 23rd. Barclays reduced their price target on shares of Starbucks from $60.00 to $57.00 and set a “$51.15” rating on the stock in a report on Wednesday, July 18th. Telsey Advisory Group reduced their price target on shares of Starbucks from $60.00 to $58.00 and set a “market perform” rating on the stock in a report on Tuesday, July 17th. Stifel Nicolaus reduced their price target on shares of Starbucks from $58.00 to $55.00 and set a “hold” rating on the stock in a report on Wednesday, June 20th. Finally, Robert W. Baird reduced their price objective on shares of Starbucks from $65.00 to $64.00 and set an “outperform” rating on the stock in a research note on Wednesday, June 20th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and seventeen have assigned a buy rating to the stock. Starbucks currently has an average rating of “Buy” and an average target price of $60.35.
SBUX traded up $1.59 during trading hours on Friday, reaching $56.45. 13,886,462 shares of the stock traded hands, compared to its average volume of 10,533,108. The firm has a market cap of $76.68 billion, a price-to-earnings ratio of 27.40, a PEG ratio of 1.69 and a beta of 0.60. The company has a current ratio of 1.01, a quick ratio of 0.76 and a debt-to-equity ratio of 1.54. Starbucks Co. has a fifty-two week low of $47.37 and a fifty-two week high of $61.94.
Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Thursday, July 26th. The coffee company reported $0.62 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.02. The company had revenue of $6.31 billion during the quarter, compared to analyst estimates of $6.25 billion. Starbucks had a net margin of 18.87% and a return on equity of 67.11%. The firm’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period last year, the business earned $0.55 EPS. On average, analysts forecast that Starbucks Co. will post 2.4 earnings per share for the current fiscal year.
Starbucks Company Profile
Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in four segments: Americas; China/Asia Pacific; Europe, Middle East, and Africa; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink coffee and tea products, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.
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