Amalgamated Bank Purchases 5,522 Shares of Starbucks Corporation (NASDAQ:SBUX)

Amalgamated Bank increased its position in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 2.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 237,003 shares of the coffee company's stock after purchasing an additional 5,522 shares during the period. Amalgamated Bank's holdings in Starbucks were worth $23,248,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. University of Texas Texas AM Investment Management Co. purchased a new position in Starbucks in the 4th quarter worth about $25,000. Graney & King LLC purchased a new position in shares of Starbucks during the fourth quarter worth approximately $26,000. Runnymede Capital Advisors Inc. purchased a new position in shares of Starbucks during the fourth quarter worth approximately $27,000. Noble Wealth Management PBC bought a new stake in shares of Starbucks during the fourth quarter valued at approximately $30,000. Finally, Kapitalo Investimentos Ltda purchased a new stake in shares of Starbucks in the fourth quarter valued at approximately $32,000. 72.29% of the stock is currently owned by institutional investors.

Starbucks Stock Up 0.3%

Shares of NASDAQ SBUX opened at $92.11 on Monday. Starbucks Corporation has a 52 week low of $71.55 and a 52 week high of $117.46. The business's 50 day moving average price is $86.80 and its 200 day moving average price is $94.29. The firm has a market cap of $104.67 billion, a P/E ratio of 33.37, a P/E/G ratio of 4.73 and a beta of 1.00.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on SBUX shares. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $95.00 target price (up from $85.00) on shares of Starbucks in a research report on Thursday, June 12th. Guggenheim decreased their price objective on Starbucks from $95.00 to $83.00 and set a "neutral" rating for the company in a report on Tuesday, April 29th. Wells Fargo & Company lowered their price objective on shares of Starbucks from $125.00 to $100.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Wall Street Zen downgraded shares of Starbucks from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Finally, Cowen restated a "hold" rating on shares of Starbucks in a report on Tuesday, June 24th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $98.76.

About Starbucks

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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