44 Wealth Management LLC Makes New $342,000 Investment in Starbucks Corporation (NASDAQ:SBUX)

44 Wealth Management LLC bought a new position in Starbucks Corporation (NASDAQ:SBUX - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,487 shares of the coffee company's stock, valued at approximately $342,000.

Several other large investors also recently made changes to their positions in SBUX. Vanguard Group Inc. lifted its stake in shares of Starbucks by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 111,106,209 shares of the coffee company's stock worth $10,138,442,000 after acquiring an additional 784,432 shares during the period. Capital World Investors boosted its position in shares of Starbucks by 20.1% during the 4th quarter. Capital World Investors now owns 54,924,230 shares of the coffee company's stock valued at $5,011,796,000 after purchasing an additional 9,174,682 shares in the last quarter. FMR LLC boosted its holdings in Starbucks by 27.0% during the fourth quarter. FMR LLC now owns 25,128,649 shares of the coffee company's stock worth $2,292,989,000 after buying an additional 5,348,790 shares in the last quarter. Geode Capital Management LLC grew its position in Starbucks by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 24,826,001 shares of the coffee company's stock worth $2,259,516,000 after buying an additional 548,245 shares during the last quarter. Finally, Wellington Management Group LLP increased its holdings in shares of Starbucks by 4.7% in the fourth quarter. Wellington Management Group LLP now owns 15,868,817 shares of the coffee company's stock valued at $1,448,030,000 after buying an additional 718,880 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company's stock.

Wall Street Analyst Weigh In

SBUX has been the topic of a number of recent research reports. TD Securities restated a "hold" rating and issued a $90.00 target price on shares of Starbucks in a report on Monday, June 23rd. JPMorgan Chase & Co. cut 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. Evercore ISI reiterated an "outperform" rating and issued a $105.00 target price (up from $95.00) on shares of Starbucks in a report on Tuesday, June 24th. BMO Capital Markets reduced their price target on shares of Starbucks from $115.00 to $100.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. Finally, CICC Research assumed coverage on Starbucks in a research note on Monday, June 30th. They issued an "outperform" rating and a $100.00 price objective for the company. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $98.23.

Starbucks Stock Performance

Shares of NASDAQ:SBUX traded up $0.26 during midday trading on Friday, reaching $94.44. 3,557,273 shares of the company's stock were exchanged, compared to its average volume of 10,930,626. The firm has a market capitalization of $107.32 billion, a PE ratio of 34.22, a price-to-earnings-growth ratio of 4.84 and a beta of 1.02. The company's 50 day simple moving average is $87.93 and its two-hundred day simple moving average is $94.28. Starbucks Corporation has a 12 month low of $71.55 and a 12 month high of $117.46.

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 the consensus estimate of $0.51 by ($0.10). The company had revenue of $8.76 billion during the quarter, compared to analyst estimates of $8.90 billion. Starbucks had a net margin of 8.61% and a negative return on equity of 42.14%. Starbucks's quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.68 EPS. On average, research analysts anticipate that Starbucks Corporation will post 2.99 earnings per share for the current 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.