Beacon Investment Advisory Services Inc. Sells 7,428 Shares of Starbucks Corporation $SBUX

Beacon Investment Advisory Services Inc. lessened its stake in Starbucks Corporation (NASDAQ:SBUX) by 11.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 56,904 shares of the coffee company’s stock after selling 7,428 shares during the quarter. Beacon Investment Advisory Services Inc.’s holdings in Starbucks were worth $5,214,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in SBUX. Hughes Financial Services LLC bought a new stake in Starbucks in the first quarter valued at about $27,000. CBIZ Investment Advisory Services LLC increased its holdings in shares of Starbucks by 125.2% in the first quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company’s stock worth $28,000 after acquiring an additional 159 shares in the last quarter. McClarren Financial Advisors Inc. bought a new stake in shares of Starbucks in the first quarter worth about $29,000. Nova Wealth Management Inc. increased its holdings in shares of Starbucks by 285.4% in the first quarter. Nova Wealth Management Inc. now owns 316 shares of the coffee company’s stock worth $31,000 after acquiring an additional 234 shares in the last quarter. Finally, Activest Wealth Management increased its holdings in shares of Starbucks by 78.0% in the first quarter. Activest Wealth Management now owns 331 shares of the coffee company’s stock worth $32,000 after acquiring an additional 145 shares in the last quarter. Institutional investors own 72.29% of the company’s stock.

Starbucks Stock Performance

NASDAQ:SBUX opened at $84.27 on Thursday. The company has a market cap of $95.79 billion, a PE ratio of 36.32, a PEG ratio of 5.12 and a beta of 1.00. Starbucks Corporation has a 52-week low of $75.50 and a 52-week high of $117.46. The stock has a 50-day simple moving average of $88.87 and a 200 day simple moving average of $89.27.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, July 29th. The coffee company reported $0.50 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 for the quarter, compared to analyst estimates of $9.29 billion. During the same period last year, the company posted $0.93 earnings per share. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. On average, research analysts predict that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Baird R W upgraded Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 12th. Guggenheim increased their price target on Starbucks from $79.00 to $90.00 and gave the stock a “neutral” rating in a report on Thursday, July 31st. Jefferies Financial Group downgraded Starbucks from a “hold” rating to an “underperform” rating and set a $76.00 price target for the company. in a report on Thursday, July 17th. CICC Research began coverage on Starbucks in a report on Monday, June 30th. They set an “outperform” rating and a $100.00 price objective for the company. Finally, Piper Sandler set a $105.00 price objective on Starbucks and gave the stock an “overweight” rating in a report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $104.40.

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.