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

Alpine Bank Wealth Management bought a new stake in Starbucks Corporation (NASDAQ:SBUX - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 18,671 shares of the coffee company's stock, valued at approximately $1,831,000.

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

Starbucks Price Performance

NASDAQ SBUX traded up $0.27 on Friday, hitting $92.11. 21,489,693 shares of the stock were exchanged, compared to its average volume of 10,939,858. 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 $104.67 billion, a price-to-earnings ratio of 33.37, a P/E/G ratio of 4.70 and a beta of 1.00. The company's 50-day moving average price is $86.80 and its two-hundred day moving average price is $94.35.

Starbucks (NASDAQ:SBUX - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The coffee company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.10). Starbucks had a negative return on equity of 42.14% and a net margin of 8.61%. The firm had revenue of $8.76 billion for the quarter, compared to analysts' expectations of $8.90 billion. During the same quarter in the previous year, the firm posted $0.68 earnings per share. The company's revenue for the quarter was up 2.3% on a year-over-year basis. Equities analysts predict that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Analyst Ratings Changes

SBUX has been the topic of several recent analyst reports. The Goldman Sachs Group reissued a "neutral" rating and set a $95.00 target price (up previously from $85.00) on shares of Starbucks in a report on Thursday, June 12th. Robert W. Baird reissued a "neutral" rating and set a $85.00 target price (down previously from $114.00) on shares of Starbucks in a report on Monday, April 7th. Cowen reissued a "hold" rating on shares of Starbucks in a report on Tuesday. Stifel Nicolaus dropped their target price on Starbucks from $103.00 to $92.00 and set a "buy" rating on the stock in a report on Wednesday, April 30th. Finally, UBS Group dropped their target price on Starbucks from $105.00 to $90.00 and set a "neutral" rating on the stock in a report on Monday, April 28th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $98.76.

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.