Avanza Fonder AB Buys 3,724 Shares of Starbucks Co. (NASDAQ:SBUX)

Avanza Fonder AB increased its holdings in Starbucks Co. (NASDAQ:SBUX - Free Report) by 4.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 90,156 shares of the coffee company's stock after buying an additional 3,724 shares during the period. Avanza Fonder AB's holdings in Starbucks were worth $8,962,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. University of Texas Texas AM Investment Management Co. acquired a new position in Starbucks during the fourth quarter valued at approximately $25,000. Graney & King LLC bought a new position in shares of Starbucks in the 4th quarter valued at $26,000. Collier Financial acquired a new position in shares of Starbucks during the 4th quarter worth $27,000. Runnymede Capital Advisors Inc. bought a new stake in shares of Starbucks during the 4th quarter worth $27,000. Finally, Marshall Investment Management LLC acquired a new stake in Starbucks in the fourth quarter valued at about $30,000. 72.29% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Guggenheim decreased their price target on shares of Starbucks from $95.00 to $83.00 and set a "neutral" rating on the stock in a report on Tuesday, April 29th. Barclays lowered their price target on shares of Starbucks from $106.00 to $98.00 and set an "overweight" rating for the company in a report on Wednesday, April 30th. Argus raised Starbucks from a "hold" rating to a "buy" rating and set a $115.00 price objective on the stock in a report on Tuesday, March 18th. Cowen lowered Starbucks from a "buy" rating to a "hold" rating in a research note on Thursday, May 29th. Finally, TD Cowen reaffirmed a "hold" rating and issued a $90.00 price objective on shares of Starbucks in a research note on Thursday, May 29th. Three research 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, Starbucks has an average rating of "Hold" and a consensus price target of $98.12.

Starbucks Price Performance

Shares of SBUX stock traded up $3.96 on Wednesday, hitting $95.39. The stock had a trading volume of 14,818,533 shares, compared to its average volume of 11,069,528. The business has a 50 day moving average of $84.34 and a 200 day moving average of $95.03. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $117.46. The stock has a market cap of $108.40 billion, a price-to-earnings ratio of 30.77, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00.

Starbucks (NASDAQ:SBUX - Get Free Report) last posted 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 9.73% and a negative return on equity of 44.97%. The firm had revenue of $8.76 billion during the quarter, compared to analysts' expectations of $8.90 billion. During the same quarter last year, the business posted $0.68 EPS. The company's quarterly revenue was up 2.3% on a year-over-year basis. As a group, research analysts expect that Starbucks Co. will post 2.99 earnings per share for the current fiscal year.

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.