116,386 Shares in Starbucks Corporation $SBUX Acquired by Janney Capital Management LLC

Key Points

• Janney Capital Management LLC has acquired 116,386 shares of Starbucks Corporation, valued at approximately $10.66 million, marking a new position for the firm in the company.
• Starbucks reported a quarterly EPS of $0.50, which missed analysts' expectations of $0.64, despite showing a 3.8% increase in revenue year-over-year.
• Several analysts have raised their price targets for Starbucks, with Barclays setting a new target of $115.00 and the consensus target price now at $104.00, indicating a generally positive outlook from research analysts.

Janney Capital Management LLC bought 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 Securities and Exchange Commission (SEC). The firm bought 116,386 shares of the coffee company's stock, valued at approximately $10,664,000.

Other large investors have also recently added to or reduced their stakes in the company. Brown Lisle Cummings Inc. lifted its position in shares of Starbucks by 1.4% in the 2nd quarter. Brown Lisle Cummings Inc. now owns 8,293 shares of the coffee company's stock valued at $760,000 after acquiring an additional 117 shares in the last quarter. Benin Management CORP lifted its position in shares of Starbucks by 0.7% in the 1st quarter. Benin Management CORP now owns 16,575 shares of the coffee company's stock valued at $1,626,000 after acquiring an additional 120 shares in the last quarter. Ted Buchan & Co lifted its position in shares of Starbucks by 1.5% in the 1st quarter. Ted Buchan & Co now owns 8,066 shares of the coffee company's stock valued at $791,000 after acquiring an additional 120 shares in the last quarter. Alexander Labrunerie & CO. Inc. lifted its position in shares of Starbucks by 3.5% in the 1st quarter. Alexander Labrunerie & CO. Inc. now owns 3,561 shares of the coffee company's stock valued at $349,000 after acquiring an additional 122 shares in the last quarter. Finally, Private Wealth Management Group LLC lifted its position in shares of Starbucks by 13.3% in the 1st quarter. Private Wealth Management Group LLC now owns 1,056 shares of the coffee company's stock valued at $104,000 after acquiring an additional 124 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors.

Starbucks Stock Up 2.7%

Shares of SBUX opened at $85.64 on Tuesday. The company's fifty day moving average is $88.34 and its 200-day moving average is $88.83. Starbucks Corporation has a 12 month low of $75.50 and a 12 month high of $117.46. The firm has a market cap of $97.35 billion, a price-to-earnings ratio of 36.91, a price-to-earnings-growth ratio of 5.01 and a beta of 1.00.

Starbucks (NASDAQ:SBUX - Get Free Report) last announced 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 negative return on equity of 36.23% and a net margin of 7.18%.The business had revenue of $9.46 billion for the quarter, compared to analyst estimates of $9.29 billion. During the same quarter last year, the company earned $0.93 EPS. The business's revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, research analysts predict that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Baird R W upgraded shares of Starbucks from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 12th. JPMorgan Chase & Co. increased their target price on shares of Starbucks from $100.00 to $105.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. Barclays increased their target price on shares of Starbucks from $106.00 to $115.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. Robert W. Baird upgraded shares of Starbucks from a "neutral" rating to an "outperform" rating and increased their target price for the stock from $100.00 to $115.00 in a research report on Tuesday, August 12th. Finally, Guggenheim increased their target price on shares of Starbucks from $79.00 to $90.00 and gave the stock a "neutral" rating in a research report on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Starbucks currently has an average rating of "Moderate Buy" and a consensus target price of $104.00.

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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