Azzad Asset Management Inc. ADV Acquires New Position in Starbucks Co. (NASDAQ:SBUX)

Azzad Asset Management Inc. ADV acquired a new stake in Starbucks Co. (NASDAQ:SBUX - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 31,391 shares of the coffee company's stock, valued at approximately $3,079,000.

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

Starbucks Stock Performance

Starbucks stock traded down $1.06 during midday trading on Friday, reaching $93.26. The stock had a trading volume of 7,115,975 shares, compared to its average volume of 11,035,461. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $117.46. The stock has a market capitalization of $105.98 billion, a PE ratio of 30.08, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00. The stock's 50-day simple moving average is $85.17 and its 200 day simple moving average is $94.93.

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 analysts' consensus estimates of $0.51 by ($0.10). The company had revenue of $8.76 billion for the quarter, compared to analyst estimates of $8.90 billion. Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. The company's revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.68 EPS. Equities analysts predict that Starbucks Co. will post 2.99 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SBUX. Barclays cut their price target on Starbucks from $106.00 to $98.00 and set an "overweight" rating on the stock in a report on Wednesday, April 30th. Baird R W cut Starbucks from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 7th. UBS Group decreased their price objective on Starbucks from $105.00 to $90.00 and set a "neutral" rating for the company in a research report on Monday, April 28th. Wall Street Zen cut Starbucks from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Finally, JPMorgan Chase & Co. reduced their price target on Starbucks from $105.00 to $100.00 and set an "overweight" rating for the company in a report on Wednesday, April 30th. Three equities research 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. According to data from MarketBeat, Starbucks currently has an average rating of "Hold" and a consensus price target of $98.96.

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.