4,660 Shares in Starbucks Corporation (NASDAQ:SBUX) Acquired by 3Chopt Investment Partners LLC

3Chopt Investment Partners LLC acquired a new position in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 4,660 shares of the coffee company's stock, valued at approximately $457,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in shares of Starbucks by 0.7% during 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 raised its stake in Starbucks by 20.1% during the fourth quarter. Capital World Investors now owns 54,924,230 shares of the coffee company's stock worth $5,011,796,000 after purchasing an additional 9,174,682 shares during the period. FMR LLC raised its stake 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 purchasing an additional 5,348,790 shares during the period. Geode Capital Management LLC raised its position in shares of Starbucks by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 24,826,001 shares of the coffee company's stock valued at $2,259,516,000 after buying an additional 548,245 shares during the period. Finally, Wellington Management Group LLP raised its position in 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 purchasing an additional 718,880 shares during the period. Hedge funds and other institutional investors own 72.29% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Evercore ISI restated an "outperform" rating and issued a $105.00 price objective (up from $95.00) on shares of Starbucks in a report on Tuesday, June 24th. TD Cowen reissued a "hold" rating and issued a $90.00 target price on shares of Starbucks in a research report on Thursday, May 29th. Jefferies Financial Group raised Starbucks from an "underperform" rating to a "hold" rating and set a $76.00 target price on the stock in a research report on Wednesday, April 9th. Robert W. Baird reiterated a "neutral" rating and issued a $85.00 price objective (down previously from $114.00) on shares of Starbucks in a report on Monday, April 7th. Finally, Wall Street Zen downgraded Starbucks from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $98.76.

Starbucks Trading Up 0.3%

Shares of NASDAQ:SBUX opened at $92.11 on Friday. The company has a market cap of $104.67 billion, a PE ratio of 33.37, a P/E/G ratio of 4.72 and a beta of 1.00. The company's 50 day moving average is $86.80 and its two-hundred day moving average is $94.32. Starbucks Corporation has a 52 week low of $71.55 and a 52 week high of $117.46.

Starbucks (NASDAQ:SBUX - Get Free Report) last posted its 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). Starbucks had a net margin of 8.61% and a negative return on equity of 42.14%. The business had revenue of $8.76 billion during the quarter, compared to analysts' expectations of $8.90 billion. During the same period last year, the company earned $0.68 EPS. The business's quarterly revenue was up 2.3% compared to the same quarter last year. As a group, equities research analysts expect that Starbucks Corporation will post 2.99 EPS 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.

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