Bank Pictet & Cie Europe AG raised its position in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 221.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,623 shares of the coffee company's stock after acquiring an additional 10,072 shares during the period. Bank Pictet & Cie Europe AG's holdings in Starbucks were worth $1,428,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also modified their holdings of the company. Arizona State Retirement System raised its holdings in shares of Starbucks by 0.8% during the 4th quarter. Arizona State Retirement System now owns 327,459 shares of the coffee company's stock worth $29,881,000 after acquiring an additional 2,722 shares in the last quarter. West Michigan Advisors LLC purchased a new stake in Starbucks during the 4th quarter valued at $265,000. Wernau Asset Management Inc. purchased a new stake in Starbucks during the 4th quarter valued at $258,000. Vanguard Capital Wealth Advisors purchased a new stake in Starbucks during the 4th quarter valued at $285,000. Finally, OFI Invest Asset Management purchased a new stake in Starbucks during the 4th quarter valued at $9,497,000. 72.29% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several analysts recently weighed in on the company. Wells Fargo & Company decreased their price target on Starbucks from $125.00 to $100.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. TD Securities restated a "hold" rating and set a $90.00 price target on shares of Starbucks in a report on Wednesday, June 11th. UBS Group decreased their price target on Starbucks from $105.00 to $90.00 and set a "neutral" rating on the stock in a report on Monday, April 28th. Wall Street Zen lowered Starbucks from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Finally, Guggenheim decreased their price target on Starbucks from $95.00 to $83.00 and set a "neutral" rating on the stock in a report on Tuesday, April 29th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, Starbucks presently has a consensus rating of "Hold" and a consensus target price of $98.96.
View Our Latest Stock Report on Starbucks
Starbucks Price Performance
Shares of SBUX stock opened at $93.26 on Monday. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $117.46. The stock's 50-day moving average is $85.17 and its 200 day moving average is $94.84. The company has a market cap of $105.98 billion, a P/E ratio of 30.08, a PEG ratio of 3.59 and a beta of 1.00.
Starbucks (NASDAQ:SBUX - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The coffee company reported $0.41 earnings per share for the quarter, missing analysts' consensus estimates of $0.51 by ($0.10). Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. The company had revenue of $8.76 billion for the quarter, compared to the consensus estimate of $8.90 billion. During the same period in the previous year, the business earned $0.68 EPS. Starbucks's revenue for the quarter was up 2.3% compared to the same quarter last year. On average, analysts anticipate that Starbucks Co. will post 2.99 EPS for the current year.
About Starbucks
(
Free Report)
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.
See Also
Want to see what other hedge funds are holding SBUX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Starbucks Co. (NASDAQ:SBUX - Free Report).
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