Alpine Bank Wealth Management Makes New Investment in Starbucks Corporation (NASDAQ:SBUX)

Alpine Bank Wealth Management purchased a new stake in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 18,671 shares of the coffee company's stock, valued at approximately $1,831,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. University of Texas Texas AM Investment Management Co. bought a new position in shares of Starbucks during the fourth quarter valued at $25,000. Graney & King LLC bought a new position in shares of Starbucks during the fourth quarter valued at $26,000. Runnymede Capital Advisors Inc. bought a new position in shares of Starbucks during the fourth quarter valued at $27,000. Noble Wealth Management PBC purchased a new stake in Starbucks during the fourth quarter valued at $30,000. Finally, Kapitalo Investimentos Ltda purchased a new stake in Starbucks during the fourth quarter valued at $32,000. 72.29% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on SBUX. Argus upgraded Starbucks from a "hold" rating to a "buy" rating and set a $115.00 price objective for the company in a research report on Tuesday, March 18th. Robert W. Baird reiterated a "neutral" rating and set a $85.00 price objective (down previously from $114.00) on shares of Starbucks in a research report on Monday, April 7th. JPMorgan Chase & Co. reduced their price objective on Starbucks from $105.00 to $100.00 and set an "overweight" rating for the company in a research report on Wednesday, April 30th. Barclays reduced their price objective on Starbucks from $106.00 to $98.00 and set an "overweight" rating for the company in a research report on Wednesday, April 30th. Finally, Evercore ISI upped their price objective on Starbucks from $95.00 to $105.00 and gave the company an "outperform" rating in a research report on Tuesday. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, Starbucks currently has a consensus rating of "Hold" and an average price target of $98.36.

Starbucks Stock Down 0.9%

NASDAQ SBUX opened at $91.50 on Wednesday. The firm has a market cap of $103.98 billion, a price-to-earnings ratio of 33.15, a price-to-earnings-growth ratio of 4.70 and a beta of 1.00. The business has a 50-day moving average price of $86.17 and a 200-day moving average price of $94.46. Starbucks Corporation has a twelve month low of $71.55 and a twelve month high of $117.46.

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 for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $8.90 billion. During the same period last year, the company earned $0.68 EPS. The business's revenue was up 2.3% on a year-over-year basis. Research analysts expect that Starbucks Corporation will post 2.99 EPS 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.

Want to see what other hedge funds are holding SBUX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Starbucks Corporation (NASDAQ:SBUX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.