6,185 Shares in Starbucks Corporation (NASDAQ:SBUX) Acquired by Cushing Capital Partners LLC

Cushing Capital Partners LLC bought a new stake in Starbucks Corporation (NASDAQ:SBUX - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 6,185 shares of the coffee company's stock, valued at approximately $607,000.

Several other hedge funds also recently bought and sold shares of the company. Clarius Group LLC increased its position in shares of Starbucks by 517.2% in the 1st quarter. Clarius Group LLC now owns 412,939 shares of the coffee company's stock valued at $40,505,000 after buying an additional 346,032 shares in the last quarter. CENTRAL TRUST Co grew its stake in Starbucks by 1.1% in the first quarter. CENTRAL TRUST Co now owns 52,248 shares of the coffee company's stock valued at $5,125,000 after acquiring an additional 569 shares during the period. Insigneo Advisory Services LLC increased its holdings in shares of Starbucks by 47.2% in the first quarter. Insigneo Advisory Services LLC now owns 12,210 shares of the coffee company's stock worth $1,198,000 after acquiring an additional 3,917 shares in the last quarter. Cardinal Capital Management raised its position in shares of Starbucks by 1.4% during the first quarter. Cardinal Capital Management now owns 84,785 shares of the coffee company's stock worth $8,317,000 after purchasing an additional 1,154 shares during the period. Finally, Chicago Capital LLC lifted its holdings in shares of Starbucks by 43.2% during the 1st quarter. Chicago Capital LLC now owns 39,049 shares of the coffee company's stock valued at $3,830,000 after purchasing an additional 11,771 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently issued reports on SBUX shares. Argus raised Starbucks from a "hold" rating to a "buy" rating and set a $115.00 target price for the company in a research note on Tuesday, March 18th. Barclays reduced their price target on shares of Starbucks from $106.00 to $98.00 and set an "overweight" rating for the company in a report on Wednesday, April 30th. Citigroup raised their price objective on shares of Starbucks from $84.00 to $95.00 and gave the stock a "neutral" rating in a report on Thursday, June 12th. Robert W. Baird reaffirmed a "neutral" rating and issued a $85.00 target price (down from $114.00) on shares of Starbucks in a research note on Monday, April 7th. Finally, Cowen downgraded Starbucks from a "buy" rating to a "hold" rating in a research note on Thursday, May 29th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $98.96.

Starbucks Stock Performance

Shares of NASDAQ:SBUX opened at $91.59 on Wednesday. Starbucks Corporation has a 52-week low of $71.55 and a 52-week high of $117.46. The company has a market capitalization of $104.08 billion, a P/E ratio of 33.18, a price-to-earnings-growth ratio of 4.69 and a beta of 1.00. The company has a 50-day simple moving average of $85.50 and a 200 day simple moving average of $94.75.

Starbucks (NASDAQ:SBUX - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The coffee company reported $0.41 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.51 by ($0.10). The business 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%. The business's quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.68 earnings per share. As a group, equities analysts forecast that Starbucks Corporation will post 2.99 earnings per share for the current 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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