Lone Pine Capital Reduces $568M in Starbucks Corporation ($SBUX)
Key Points
- Lone Pine Capital changed its Starbucks Corporation ($SBUX) stake by 100% last quarter, cutting to 0 shares.
- Wall Street's consensus rating on $SBUX is Buy and an average price target of $112.23.
- $SBUX last traded around $102.19.
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Lone Pine Capital reduced its position in Starbucks Corporation ($SBUX), according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 0 shares of Starbucks Corporation after selling 5,561,954 shares during the quarter.
Starbucks Corporation Stock Down 5.2%
Shares of Starbucks Corporation ($SBUX) traded around $102.19 on Saturday, down 5.2% for the day.
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About Starbucks Corporation
Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of coffee internationally. The company operates through three segments: North America, International, and Channel Development. Its stores offer coffee, tea, and other beverages, roasted whole beans and ground coffees, complementary food, packaged coffees, single-serve products, and ready-to-drink beverages; and various food products, such as pastries, breakfast sandwiches, and lunch items. The company also licenses its trademarks through licensed stores, and grocery and foodservice accounts. The company offers its products under the Starbucks Coffee, Teavana, Seattle's Best Coffee, Ethos, and Starbucks Reserve brands. Starbucks Corporation was founded in 1971 and is based in Seattle, Washington.
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