50,136 Shares in Starbucks Corporation (NASDAQ:SBUX) Acquired by Monte Financial Group LLC

Monte Financial Group LLC bought a new position in Starbucks Corporation (NASDAQ:SBUX - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 50,136 shares of the coffee company's stock, valued at approximately $4,918,000. Starbucks makes up about 2.0% of Monte Financial Group LLC's investment portfolio, making the stock its 29th biggest position.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Starbucks by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 111,106,209 shares of the coffee company's stock valued at $10,138,442,000 after acquiring an additional 784,432 shares during the period. Capital World Investors raised its holdings in shares of Starbucks by 20.1% during the fourth quarter. Capital World Investors now owns 54,924,230 shares of the coffee company's stock valued at $5,011,796,000 after acquiring an additional 9,174,682 shares during the period. FMR LLC raised its holdings in shares of Starbucks by 27.0% during the fourth quarter. FMR LLC now owns 25,128,649 shares of the coffee company's stock valued at $2,292,989,000 after acquiring an additional 5,348,790 shares during the period. Geode Capital Management LLC raised its holdings in shares of Starbucks by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 24,826,001 shares of the coffee company's stock valued at $2,259,516,000 after acquiring an additional 548,245 shares during the period. Finally, Wellington Management Group LLP raised its holdings in shares of Starbucks by 4.7% during 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 acquiring an additional 718,880 shares during the period. 72.29% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on SBUX. BMO Capital Markets cut their price target on shares of Starbucks from $115.00 to $100.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. Wells Fargo & Company cut their price target on shares of Starbucks from $125.00 to $100.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Robert W. Baird restated a "neutral" rating and set a $85.00 price target (down previously from $114.00) on shares of Starbucks in a report on Monday, April 7th. Wall Street Zen lowered shares of Starbucks from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Finally, Cowen lowered shares of Starbucks from a "buy" rating to a "hold" rating in a research note on Thursday, May 29th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $98.96.

Starbucks Stock Up 0.9%

Shares of SBUX opened at $93.12 on Friday. The company's fifty day moving average is $85.88 and its 200-day moving average is $94.61. Starbucks Corporation has a 12 month low of $71.55 and a 12 month high of $117.46. The firm has a market cap of $105.82 billion, a price-to-earnings ratio of 33.74, a price-to-earnings-growth ratio of 4.70 and a beta of 1.00.

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). Starbucks had a negative return on equity of 42.14% and a net margin of 8.61%. The business had revenue of $8.76 billion for the quarter, compared to analyst estimates of $8.90 billion. During the same quarter last year, the company earned $0.68 EPS. The business's revenue for the quarter was up 2.3% 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.

Starbucks Company 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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