Canandaigua National Bank & Trust Co. Boosts Stake in Starbucks Corporation (NASDAQ:SBUX)

Canandaigua National Bank & Trust Co. lifted its stake in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 144.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,504 shares of the coffee company's stock after buying an additional 4,429 shares during the quarter. Canandaigua National Bank & Trust Co.'s holdings in Starbucks were worth $736,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Brighton Jones LLC lifted its stake in shares of Starbucks by 86.5% in the 4th quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company's stock valued at $16,126,000 after purchasing an additional 81,952 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in Starbucks in the fourth quarter valued at $389,000. Noble Wealth Management PBC acquired a new position in shares of Starbucks in the fourth quarter worth about $30,000. Smartleaf Asset Management LLC boosted its stake in shares of Starbucks by 63.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 18,767 shares of the coffee company's stock worth $1,700,000 after acquiring an additional 7,292 shares in the last quarter. Finally, Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Starbucks during the 4th quarter valued at about $62,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently weighed in on SBUX. Wells Fargo & Company reduced their price target on Starbucks from $125.00 to $100.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. TD Securities reaffirmed a "hold" rating and set a $90.00 target price on shares of Starbucks in a research note on Monday, June 23rd. UBS Group dropped their price target on shares of Starbucks from $105.00 to $90.00 and set a "neutral" rating on the stock in a research note on Monday, April 28th. Citigroup boosted their price target on shares of Starbucks from $84.00 to $95.00 and gave the stock a "neutral" rating in a report on Thursday, June 12th. Finally, Stifel Nicolaus decreased their price objective on shares of Starbucks from $103.00 to $92.00 and set a "buy" rating on the stock in a report on Wednesday, April 30th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Starbucks presently has a consensus rating of "Hold" and a consensus target price of $98.23.

Starbucks Stock Up 0.3%

NASDAQ:SBUX traded up $0.26 on Friday, hitting $94.44. The stock had a trading volume of 3,557,273 shares, compared to its average volume of 10,930,626. The company has a fifty day moving average price of $87.72 and a two-hundred day moving average price of $94.27. Starbucks Corporation has a 1-year low of $71.55 and a 1-year high of $117.46. The stock has a market cap of $107.32 billion, a price-to-earnings ratio of 34.22, a PEG ratio of 4.84 and a beta of 1.02.

Starbucks (NASDAQ:SBUX - Get Free Report) last released its quarterly 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 for the quarter, compared to analysts' expectations of $8.90 billion. Starbucks had a net margin of 8.61% and a negative return on equity of 42.14%. 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 posted $0.68 EPS. As a group, analysts anticipate that Starbucks Corporation will post 2.99 earnings per share for the current year.

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.