Asset Management One Co. Ltd. Raises Holdings in Starbucks Corporation (NASDAQ:SBUX)

Asset Management One Co. Ltd. boosted its holdings in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 7.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 507,451 shares of the coffee company's stock after acquiring an additional 37,095 shares during the quarter. Asset Management One Co. Ltd.'s holdings in Starbucks were worth $49,776,000 at the end of the most recent quarter.

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

Starbucks Price Performance

NASDAQ:SBUX traded down $0.84 during trading hours on Tuesday, hitting $91.50. The stock had a trading volume of 9,501,326 shares, compared to its average volume of 10,926,821. Starbucks Corporation has a one year low of $71.55 and a one year high of $117.46. The firm has a market capitalization of $103.98 billion, a price-to-earnings ratio of 33.15, a P/E/G ratio of 4.74 and a beta of 1.00. The company has a 50 day simple moving average of $86.02 and a two-hundred day simple moving average of $94.48.

Starbucks (NASDAQ:SBUX - Get Free Report) last issued 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 negative return on equity of 42.14% and a net margin of 8.61%. The business had revenue of $8.76 billion for the quarter, compared to analysts' expectations of $8.90 billion. During the same period in the previous year, the firm posted $0.68 EPS. The firm's revenue for the quarter was up 2.3% compared to the same quarter last year. Equities research analysts anticipate that Starbucks Corporation will post 2.99 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on SBUX. Citigroup increased their price target on Starbucks from $84.00 to $95.00 and gave the stock a "neutral" rating in a report on Thursday, June 12th. Barclays dropped their price objective on shares of Starbucks from $106.00 to $98.00 and set an "overweight" rating on the stock in a report on Wednesday, April 30th. Stifel Nicolaus decreased their target price on Starbucks from $103.00 to $92.00 and set a "buy" rating for the company in a research report on Wednesday, April 30th. The Goldman Sachs Group reiterated a "neutral" rating and issued a $95.00 price target (up previously from $85.00) on shares of Starbucks in a report on Thursday, June 12th. Finally, Wells Fargo & Company decreased their price objective on Starbucks from $125.00 to $100.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Three investment 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.com, the stock presently has a consensus rating of "Hold" and an average price target of $98.36.

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.