11,128 Shares in Starbucks Corporation $SBUX Bought by Harrell Investment Partners LLC

Key Points

• Harrell Investment Partners LLC has acquired 11,128 shares of Starbucks, valued at approximately $1,020,000, marking a new investment position in the company.
• Recent analyst ratings show a consensus of "Moderate Buy" for Starbucks stock, with a projected price target of $104.40 and various ratings from firms like Piper Sandler and BMO Capital Markets.
• Starbucks reported earnings of $0.50 per share for the last quarter, missing estimates but achieving revenue of $9.46 billion, up 3.8% year-over-year.

Harrell Investment Partners LLC acquired a new position in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 11,128 shares of the coffee company's stock, valued at approximately $1,020,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Regatta Capital Group LLC grew its stake in Starbucks by 1.5% during the 2nd quarter. Regatta Capital Group LLC now owns 14,084 shares of the coffee company's stock worth $1,291,000 after buying an additional 203 shares during the last quarter. Pine Haven Investment Counsel Inc grew its stake in shares of Starbucks by 1.4% in the second quarter. Pine Haven Investment Counsel Inc now owns 42,646 shares of the coffee company's stock worth $3,908,000 after purchasing an additional 581 shares in the last quarter. Evanson Asset Management LLC grew its stake in shares of Starbucks by 62.2% in the second quarter. Evanson Asset Management LLC now owns 5,124 shares of the coffee company's stock worth $470,000 after purchasing an additional 1,964 shares in the last quarter. Northside Capital Management LLC grew its stake in shares of Starbucks by 23.0% in the second quarter. Northside Capital Management LLC now owns 2,955 shares of the coffee company's stock worth $271,000 after purchasing an additional 553 shares in the last quarter. Finally, IMS Capital Management bought a new position in shares of Starbucks in the second quarter worth $2,586,000. 72.29% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on SBUX shares. Piper Sandler set a $105.00 price target on Starbucks and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. Loop Capital set a $165.00 price target on Starbucks in a research note on Tuesday, August 12th. BMO Capital Markets reissued 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. Evercore ISI reissued an "outperform" rating and issued a $105.00 price target (up previously from $95.00) on shares of Starbucks in a research note on Tuesday, June 24th. Finally, Morgan Stanley restated an "overweight" rating and issued a $103.00 price objective (up previously from $95.00) on shares of Starbucks in a report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $104.40.

Starbucks Stock Down 1.7%

Shares of Starbucks stock opened at $84.27 on Thursday. The firm has a market cap of $95.79 billion, a price-to-earnings ratio of 36.32, a price-to-earnings-growth ratio of 5.12 and a beta of 1.00. The business has a fifty day simple moving average of $88.87 and a 200-day simple moving average of $89.27. Starbucks Corporation has a fifty-two week low of $75.50 and a fifty-two week high of $117.46.

Starbucks (NASDAQ:SBUX - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The coffee company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.14). The firm had revenue of $9.46 billion during the quarter, compared to analyst estimates of $9.29 billion. Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The company's quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.93 EPS. Analysts anticipate that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

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.

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