Calamos Advisors LLC Buys 71,682 Shares of Starbucks Corporation (NASDAQ:SBUX)

Calamos Advisors LLC boosted its position in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 21.5% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 404,627 shares of the coffee company's stock after acquiring an additional 71,682 shares during the period. Calamos Advisors LLC's holdings in Starbucks were worth $39,690,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Cohen Investment Advisors LLC grew its holdings in Starbucks by 17.1% during the 1st quarter. Cohen Investment Advisors LLC now owns 27,259 shares of the coffee company's stock valued at $2,674,000 after buying an additional 3,975 shares in the last quarter. MBA Advisors LLC bought a new position in shares of Starbucks in the first quarter valued at approximately $214,000. Davidson Trust Co. grew its stake in Starbucks by 24.8% during the first quarter. Davidson Trust Co. now owns 4,954 shares of the coffee company's stock valued at $486,000 after acquiring an additional 985 shares in the last quarter. Onyx Bridge Wealth Group LLC bought a new stake in Starbucks during the 1st quarter worth approximately $220,000. Finally, Checchi Capital Advisers LLC lifted its stake in Starbucks by 3.5% in the 1st quarter. Checchi Capital Advisers LLC now owns 12,202 shares of the coffee company's stock worth $1,197,000 after purchasing an additional 413 shares in the last quarter. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SBUX. JPMorgan Chase & Co. reduced their price target on shares of Starbucks from $105.00 to $100.00 and set an "overweight" rating for the company in a research report on Wednesday, April 30th. The Goldman Sachs Group restated a "neutral" rating and set a $95.00 price target (up from $85.00) on shares of Starbucks in a research report on Thursday, June 12th. Royal Bank Of Canada boosted their price target on shares of Starbucks from $95.00 to $100.00 and gave the company an "outperform" rating in a research report on Wednesday, June 11th. Cowen restated a "hold" rating on shares of Starbucks in a research report on Tuesday, June 24th. Finally, Argus raised shares of Starbucks from a "hold" rating to a "buy" rating and set a $115.00 target price on the stock in a research note on Tuesday, March 18th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Starbucks presently has an average rating of "Hold" and an average price target of $98.23.

Starbucks Price Performance

Starbucks stock traded up $0.26 during trading hours on Friday, reaching $94.44. The company had a trading volume of 3,557,273 shares, compared to its average volume of 10,930,626. Starbucks Corporation has a 12-month low of $71.55 and a 12-month high of $117.46. The company has a 50-day moving average price of $87.72 and a 200 day moving average price of $94.27. The firm has a market cap of $107.32 billion, a price-to-earnings ratio of 34.22, a P/E/G ratio of 4.84 and a beta of 1.02.

Starbucks (NASDAQ:SBUX - Get Free Report) last issued its earnings results on Tuesday, April 29th. The coffee company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.10). The firm had revenue of $8.76 billion during the quarter, compared to analysts' expectations of $8.90 billion. Starbucks had a negative return on equity of 42.14% and a net margin of 8.61%. The firm's quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.68 earnings per share. As a group, research analysts expect that Starbucks Corporation will post 2.99 earnings per share for the current 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.