Chicago Capital LLC Has $3.83 Million Stock Position in Starbucks Corporation (NASDAQ:SBUX)

Chicago Capital LLC increased its holdings in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 43.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,049 shares of the coffee company's stock after buying an additional 11,771 shares during the period. Chicago Capital LLC's holdings in Starbucks were worth $3,830,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of SBUX. Norges Bank acquired a new position in shares of Starbucks in the 4th quarter valued at $1,244,812,000. Capital World Investors lifted its stake in Starbucks by 20.1% in the fourth quarter. Capital World Investors now owns 54,924,230 shares of the coffee company's stock valued at $5,011,796,000 after buying an additional 9,174,682 shares during the period. FMR LLC boosted its holdings in Starbucks by 27.0% during the fourth quarter. FMR LLC now owns 25,128,649 shares of the coffee company's stock worth $2,292,989,000 after buying an additional 5,348,790 shares during the last quarter. Capital Research Global Investors grew its position in shares of Starbucks by 167.6% during the 4th quarter. Capital Research Global Investors now owns 5,690,198 shares of the coffee company's stock worth $519,230,000 after buying an additional 3,563,942 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in shares of Starbucks in the 4th quarter valued at about $284,283,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Barclays decreased their price objective on shares of Starbucks from $106.00 to $98.00 and set an "overweight" rating for the company in a report on Wednesday, April 30th. JPMorgan Chase & Co. reduced their price target on shares of Starbucks from $105.00 to $100.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 30th. Wells Fargo & Company lowered their price objective on shares of Starbucks from $125.00 to $100.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Guggenheim reduced their target price on Starbucks from $95.00 to $83.00 and set a "neutral" rating on the stock in a report on Tuesday, April 29th. Finally, BMO Capital Markets decreased their target price on Starbucks from $115.00 to $100.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $98.96.

Starbucks Stock Performance

NASDAQ:SBUX traded up $0.51 during mid-day trading on Wednesday, hitting $92.10. 1,412,329 shares of the stock were exchanged, compared to its average volume of 10,667,734. The firm's 50-day simple moving average is $85.50 and its 200 day simple moving average is $94.75. The stock has a market capitalization of $104.66 billion, a price-to-earnings ratio of 33.37, a price-to-earnings-growth ratio of 4.69 and a beta of 1.00. Starbucks Corporation has a fifty-two week low of $71.55 and a fifty-two week high of $117.46.

Starbucks (NASDAQ:SBUX - Get Free Report) last announced 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 business had revenue of $8.76 billion for the quarter, compared to the consensus estimate of $8.90 billion. Starbucks had a negative return on equity of 42.14% and a net margin of 8.61%. The firm's revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.68 earnings per share. On average, analysts predict that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks 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.