Avior Wealth Management LLC Has $1.18 Million Position in Starbucks Corporation $SBUX

Key Points

• Avior Wealth Management LLC increased its stake in Starbucks Corporation by 66%, acquiring a total of 12,874 shares valued at $1.18 million.
• Starbucks reported earnings of $0.50 per share, falling short of analysts' expectations of $0.64, while revenue for the quarter was $9.46 billion, exceeding estimates.
• The majority of Starbucks stock, approximately 72.29%, is owned by institutional investors, with several large firms increasing their holdings during the first quarter.

Avior Wealth Management LLC increased its holdings in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 66.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,874 shares of the coffee company's stock after acquiring an additional 5,118 shares during the quarter. Avior Wealth Management LLC's holdings in Starbucks were worth $1,180,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in SBUX. Nuveen LLC acquired a new position in shares of Starbucks during the 1st quarter worth approximately $1,379,619,000. Jennison Associates LLC acquired a new position in Starbucks in the 1st quarter valued at $817,759,000. Polen Capital Management LLC acquired a new position in Starbucks in the 1st quarter valued at $503,539,000. Goldman Sachs Group Inc. grew its holdings in Starbucks by 59.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 9,623,282 shares of the coffee company's stock valued at $943,948,000 after buying an additional 3,589,537 shares in the last quarter. Finally, Wellington Management Group LLP grew its holdings in Starbucks by 22.3% in the 1st quarter. Wellington Management Group LLP now owns 19,414,472 shares of the coffee company's stock valued at $1,904,366,000 after buying an additional 3,545,655 shares in the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Stock Performance

SBUX opened at $85.64 on Tuesday. The firm has a market cap of $97.35 billion, a P/E ratio of 36.91, a price-to-earnings-growth ratio of 5.01 and a beta of 1.00. Starbucks Corporation has a 52-week low of $75.50 and a 52-week high of $117.46. The business's fifty day moving average is $88.34 and its 200-day moving average is $88.83.

Starbucks (NASDAQ:SBUX - Get Free Report) last released its earnings results on Tuesday, July 29th. The coffee company reported $0.50 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.64 by ($0.14). The business had revenue of $9.46 billion during the quarter, compared to the consensus estimate of $9.29 billion. Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The business's revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.93 EPS. On average, research analysts predict that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have commented on SBUX shares. BMO Capital Markets reaffirmed an "outperform" rating and issued a $115.00 price objective (up from $100.00) on shares of Starbucks in a report on Wednesday, July 30th. Robert W. Baird raised Starbucks from a "neutral" rating to an "outperform" rating and upped their price objective for the company from $100.00 to $115.00 in a report on Tuesday, August 12th. TD Cowen reaffirmed a "hold" rating and issued a $95.00 price objective on shares of Starbucks in a report on Thursday, September 25th. Baird R W raised Starbucks from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 12th. Finally, TD Securities reissued a "hold" rating and set a $90.00 target price on shares of Starbucks in a report on Monday, June 23rd. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $104.00.

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.

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