Orrstown Financial Services Inc. Invests $316,000 in Starbucks Co. (NASDAQ:SBUX)

Orrstown Financial Services Inc. bought a new stake in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 3,224 shares of the coffee company's stock, valued at approximately $316,000.

Several other institutional investors have also recently made changes to their positions in the company. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Starbucks in the fourth quarter worth about $25,000. Graney & King LLC acquired a new position in Starbucks in the 4th quarter worth about $26,000. Collier Financial purchased a new position in Starbucks during the fourth quarter worth approximately $27,000. Runnymede Capital Advisors Inc. acquired a new stake in Starbucks in the fourth quarter valued at approximately $27,000. Finally, Marshall Investment Management LLC purchased a new stake in shares of Starbucks in the fourth quarter valued at approximately $30,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on SBUX. UBS Group decreased their price objective on Starbucks from $105.00 to $90.00 and set a "neutral" rating on the stock in a report on Monday, April 28th. Wall Street Zen cut Starbucks from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. TD Cowen reissued a "hold" rating and set a $90.00 price objective on shares of Starbucks in a report on Thursday, May 29th. BMO Capital Markets dropped their target price on shares of Starbucks from $115.00 to $100.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. Finally, JPMorgan Chase & Co. dropped their price objective on Starbucks from $105.00 to $100.00 and set an "overweight" rating on the stock in a report on Wednesday, April 30th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, Starbucks currently has a consensus rating of "Hold" and a consensus target price of $98.12.

Starbucks Stock Up 4.3%

SBUX traded up $3.96 during trading on Wednesday, reaching $95.39. 11,949,506 shares of the company's stock were exchanged, compared to its average volume of 11,061,084. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $117.46. The company has a market capitalization of $108.40 billion, a P/E ratio of 30.77, a PEG ratio of 3.59 and a beta of 1.00. The business has a 50 day moving average price of $84.34 and a 200 day moving average price of $95.03.

Starbucks (NASDAQ:SBUX - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The coffee company reported $0.41 EPS for the quarter, missing analysts' consensus estimates of $0.51 by ($0.10). Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. The business had revenue of $8.76 billion for the quarter, compared to the consensus estimate of $8.90 billion. During the same quarter in the prior year, the business earned $0.68 EPS. The firm's revenue for the quarter was up 2.3% on a year-over-year basis. As a group, research analysts forecast that Starbucks Co. will post 2.99 EPS for the current year.

About Starbucks

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.