Alley Investment Management Company LLC Purchases 3,149 Shares of Starbucks Corporation (NASDAQ:SBUX)

Alley Investment Management Company LLC boosted its holdings in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 2.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 150,210 shares of the coffee company's stock after acquiring an additional 3,149 shares during the quarter. Starbucks accounts for approximately 1.8% of Alley Investment Management Company LLC's investment portfolio, making the stock its 22nd biggest holding. Alley Investment Management Company LLC's holdings in Starbucks were worth $14,734,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position 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 purchasing an additional 784,432 shares in the last quarter. Capital World Investors increased its stake in Starbucks by 20.1% in the 4th quarter. Capital World Investors now owns 54,924,230 shares of the coffee company's stock valued at $5,011,796,000 after buying an additional 9,174,682 shares during the last quarter. FMR LLC lifted its position in shares of Starbucks by 27.0% during the 4th quarter. FMR LLC now owns 25,128,649 shares of the coffee company's stock worth $2,292,989,000 after buying an additional 5,348,790 shares in the last quarter. Geode Capital Management LLC lifted 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 worth $2,259,516,000 after buying an additional 548,245 shares in the last quarter. Finally, Wellington Management Group LLP boosted its stake in shares of Starbucks by 4.7% in the 4th quarter. Wellington Management Group LLP now owns 15,868,817 shares of the coffee company's stock worth $1,448,030,000 after buying an additional 718,880 shares during the last quarter. Institutional investors and hedge funds own 72.29% of the company's stock.

Analyst Ratings Changes

Several research firms have weighed in on SBUX. The Goldman Sachs Group reissued a "neutral" rating and issued a $95.00 price objective (up previously from $85.00) on shares of Starbucks in a research report on Thursday, June 12th. Evercore ISI restated an "outperform" rating and set a $105.00 price objective (up previously from $95.00) on shares of Starbucks in a report on Tuesday, June 24th. Wall Street Zen cut shares of Starbucks from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Guggenheim decreased their price target on shares of Starbucks from $95.00 to $83.00 and set a "neutral" rating for the company in a research note on Tuesday, April 29th. Finally, Robert W. Baird reissued a "neutral" rating and set a $85.00 price objective (down from $114.00) on shares of Starbucks in a report on Monday, April 7th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $98.23.

Starbucks Price Performance

Starbucks stock traded down $0.74 during mid-day trading on Wednesday, hitting $94.18. The company's stock had a trading volume of 7,937,561 shares, compared to its average volume of 10,927,662. The business has a 50 day moving average price of $87.28 and a 200-day moving average price of $94.26. Starbucks Corporation has a 12 month low of $71.55 and a 12 month high of $117.46. The stock has a market cap of $107.03 billion, a price-to-earnings ratio of 34.12, a price-to-earnings-growth ratio of 4.69 and a beta of 1.02.

Starbucks (NASDAQ:SBUX - Get Free Report) last released its earnings results on Tuesday, April 29th. The coffee company reported $0.41 earnings per share 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 8.61% and a negative return on equity of 42.14%. The company's revenue was up 2.3% on a year-over-year basis. During the same period last year, the firm posted $0.68 EPS. On average, equities research analysts expect that Starbucks Corporation will post 2.99 earnings per share for the current fiscal 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.