Cardinal Capital Management Acquires 5,032 Shares of Starbucks Corporation $SBUX

Key Points

• Cardinal Capital Management increased its holdings in Starbucks Corporation by 5.9%, acquiring an additional 5,032 shares during the 2nd quarter, bringing its total to 89,817 shares valued at approximately $8.23 million.
• Starbucks reported earnings of $0.50 per share for the last quarter, missing analysts' estimates, while revenue was up to $9.46 billion, exceeding expectations.
• Several analysts have raised their price targets for Starbucks, with JPMorgan setting a new target at $105.00 and maintaining an "overweight" rating.

Cardinal Capital Management increased its holdings in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 5.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 89,817 shares of the coffee company's stock after acquiring an additional 5,032 shares during the period. Starbucks comprises approximately 1.2% of Cardinal Capital Management's portfolio, making the stock its 26th biggest holding. Cardinal Capital Management's holdings in Starbucks were worth $8,230,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of SBUX. Brighton Jones LLC grew its position in Starbucks by 86.5% during the fourth quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company's stock valued at $16,126,000 after buying an additional 81,952 shares during the period. Mackenzie Financial Corp grew its position in shares of Starbucks by 153.4% during the 4th quarter. Mackenzie Financial Corp now owns 252,850 shares of the coffee company's stock valued at $23,073,000 after acquiring an additional 153,078 shares during the period. Putney Financial Group LLC bought a new position in shares of Starbucks during the 4th quarter valued at approximately $67,000. Lakeshore Capital Group Inc. bought a new position in shares of Starbucks during the 4th quarter valued at approximately $561,000. Finally, Pinnacle Wealth Planning Services Inc. grew its position in shares of Starbucks by 3.9% during the 4th quarter. Pinnacle Wealth Planning Services Inc. now owns 5,767 shares of the coffee company's stock valued at $526,000 after acquiring an additional 218 shares during the period. Institutional investors own 72.29% of the company's stock.

Starbucks Price Performance

Shares of SBUX opened at $85.29 on Tuesday. The firm has a market cap of $96.95 billion, a P/E ratio of 36.76, a P/E/G ratio of 5.05 and a beta of 1.00. The stock has a 50 day simple moving average of $89.17 and a two-hundred day simple moving average of $89.33. Starbucks Corporation has a 1 year low of $75.50 and a 1 year high of $117.46.

Starbucks (NASDAQ:SBUX - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The coffee company reported $0.50 earnings per share 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 negative return on equity of 36.23% and a net margin of 7.18%.The company's revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.93 earnings per share. On average, equities analysts anticipate that Starbucks Corporation will post 2.99 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on SBUX shares. JPMorgan Chase & Co. increased their price objective on Starbucks from $100.00 to $105.00 and gave the company an "overweight" rating in a report on Wednesday, July 30th. Guggenheim increased their price target on Starbucks from $79.00 to $90.00 and gave the stock a "neutral" rating in a research note on Thursday, July 31st. UBS Group increased their target price on shares of Starbucks from $95.00 to $100.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 30th. TD Securities reiterated a "hold" rating and set a $90.00 target price on shares of Starbucks in a research report on Monday, June 23rd. Finally, Stifel Nicolaus increased their target price on shares of Starbucks from $92.00 to $105.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. One investment 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. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $104.40.

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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