Accurate Wealth Management LLC Makes New Investment in Starbucks Co. (NASDAQ:SBUX)

Accurate Wealth Management LLC acquired a new stake in Starbucks Co. (NASDAQ:SBUX - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 3,421 shares of the coffee company's stock, valued at approximately $336,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Starbucks during the 4th quarter worth $25,000. Graney & King LLC acquired a new stake in Starbucks during the fourth quarter worth about $26,000. Runnymede Capital Advisors Inc. purchased a new position in shares of Starbucks in the 4th quarter worth about $27,000. Marshall Investment Management LLC acquired a new position in shares of Starbucks in the 4th quarter valued at about $30,000. Finally, Noble Wealth Management PBC purchased a new stake in shares of Starbucks during the 4th quarter worth about $30,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Trading Down 1.1%

SBUX traded down $1.07 on Thursday, hitting $94.32. 7,179,038 shares of the company's stock were exchanged, compared to its average volume of 11,062,770. The firm has a market cap of $107.19 billion, a PE ratio of 30.43, a P/E/G ratio of 3.59 and a beta of 1.00. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $117.46. The stock has a fifty day moving average of $84.61 and a two-hundred day moving average of $95.03.

Starbucks (NASDAQ:SBUX - Get Free Report) last posted its earnings results 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 company had revenue of $8.76 billion during the quarter, compared to the consensus estimate of $8.90 billion. Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. The business's quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.68 earnings per share. On average, analysts predict that Starbucks Co. will post 2.99 EPS for the current year.

Analyst Ratings Changes

SBUX has been the topic of a number of recent research reports. Barclays reduced their price target on shares of Starbucks from $106.00 to $98.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 30th. Citigroup lifted their target price on shares of Starbucks from $84.00 to $95.00 and gave the company a "neutral" rating in a report on Thursday. Wells Fargo & Company lowered their price target on Starbucks from $125.00 to $100.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Guggenheim reduced their price objective on Starbucks from $95.00 to $83.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 29th. Finally, Jefferies Financial Group upgraded Starbucks from an "underperform" rating to a "hold" rating and set a $76.00 target price for the company in a research note on Wednesday, April 9th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $98.96.

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.