9,188 Shares in Starbucks Corporation $SBUX Acquired by Hofer & Associates. Inc

Key Points

• Hofer & Associates, Inc acquired a new position in Starbucks, purchasing 9,188 shares valued at approximately $842,000 during the second quarter.
• Starbucks reported an EPS of $0.50 for its last quarterly earnings, falling short of analysts' expectations of $0.64, while its revenue was up 3.8% year-over-year.
• Institutional investors and hedge funds own a significant 72.29% of Starbucks stock, indicating strong interest from larger financial entities.

Hofer & Associates. Inc bought a new position in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 9,188 shares of the coffee company's stock, valued at approximately $842,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Martin Capital Advisors LLP lifted its position in shares of Starbucks by 1.9% in the 2nd quarter. Martin Capital Advisors LLP now owns 32,929 shares of the coffee company's stock worth $3,017,000 after purchasing an additional 600 shares during the period. GSB Wealth Management LLC lifted its position in shares of Starbucks by 10.0% in the 2nd quarter. GSB Wealth Management LLC now owns 12,323 shares of the coffee company's stock worth $1,129,000 after purchasing an additional 1,119 shares during the period. Cardinal Capital Management lifted its position in shares of Starbucks by 5.9% in the 2nd quarter. Cardinal Capital Management now owns 89,817 shares of the coffee company's stock worth $8,230,000 after purchasing an additional 5,032 shares during the period. Crew Capital Management Ltd. lifted its position in shares of Starbucks by 211.3% in the 2nd quarter. Crew Capital Management Ltd. now owns 9,940 shares of the coffee company's stock worth $911,000 after purchasing an additional 6,747 shares during the period. Finally, Opal Wealth Advisors LLC lifted its position in shares of Starbucks by 42.7% in the 2nd quarter. Opal Wealth Advisors LLC now owns 3,025 shares of the coffee company's stock worth $277,000 after purchasing an additional 905 shares during the period. Institutional investors and hedge funds own 72.29% of the company's stock.

Starbucks Price Performance

SBUX opened at $85.29 on Tuesday. The company has a market capitalization of $96.95 billion, a price-to-earnings ratio of 36.76, a P/E/G ratio of 5.05 and a beta of 1.00. The firm's fifty day moving average price is $89.17 and its two-hundred day moving average price is $89.33. Starbucks Corporation has a 1 year low of $75.50 and a 1 year high of $117.46.

Starbucks (NASDAQ:SBUX - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The coffee company reported $0.50 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.64 by ($0.14). The firm had revenue of $9.46 billion for the quarter, compared to analysts' expectations of $9.29 billion. Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%.Starbucks's revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.93 earnings per share. As a group, equities analysts anticipate that Starbucks Corporation will post 2.99 EPS for the current year.

Wall Street Analyst Weigh In

SBUX has been the topic of a number of recent analyst reports. Citigroup dropped their price target on shares of Starbucks from $100.00 to $99.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 30th. Morgan Stanley restated an "overweight" rating and issued a $103.00 price target (up previously from $95.00) on shares of Starbucks in a research report on Wednesday, July 30th. Piper Sandler set a $105.00 price target on shares of Starbucks and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. UBS Group lifted their price objective on shares of Starbucks from $95.00 to $100.00 and gave the company a "neutral" rating in a research note on Wednesday, July 30th. Finally, Sanford C. Bernstein lifted their price objective on shares of Starbucks from $90.00 to $100.00 and gave the company an "outperform" rating in a research note on Wednesday, July 2nd. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $104.40.

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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