Chicago Capital LLC Purchases 6,122 Shares of Starbucks Corporation $SBUX

Key Points

• Chicago Capital LLC increased its stake in Starbucks by 15.7%, acquiring 6,122 shares during the second quarter, bringing their total holdings to 45,171 shares, worth approximately $4,139,000.
• Starbucks reported earnings of $0.50 per share for the last quarter, falling short of analysts' expectations of $0.64, although revenue increased by 3.8% year-over-year to $9.46 billion.
• Analysts have recently boosted Starbucks' stock price targets, with several firms upgrading their ratings to "overweight" and setting targets between $105.00 and $115.00.

Chicago Capital LLC grew its stake in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 15.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 45,171 shares of the coffee company's stock after buying an additional 6,122 shares during the period. Chicago Capital LLC's holdings in Starbucks were worth $4,139,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Alliance Wealth Advisors LLC increased its position in shares of Starbucks by 2.1% during the second quarter. Alliance Wealth Advisors LLC now owns 5,170 shares of the coffee company's stock valued at $474,000 after buying an additional 108 shares during the period. Brown Lisle Cummings Inc. grew its holdings in shares of Starbucks by 1.4% during the second quarter. Brown Lisle Cummings Inc. now owns 8,293 shares of the coffee company's stock worth $760,000 after purchasing an additional 117 shares in the last quarter. Benin Management CORP grew its holdings in shares of Starbucks by 0.7% during the first quarter. Benin Management CORP now owns 16,575 shares of the coffee company's stock worth $1,626,000 after purchasing an additional 120 shares in the last quarter. Ted Buchan & Co grew its holdings in shares of Starbucks by 1.5% during the first quarter. Ted Buchan & Co now owns 8,066 shares of the coffee company's stock worth $791,000 after purchasing an additional 120 shares in the last quarter. Finally, Alexander Labrunerie & CO. Inc. grew its holdings in shares of Starbucks by 3.5% during the first quarter. Alexander Labrunerie & CO. Inc. now owns 3,561 shares of the coffee company's stock worth $349,000 after purchasing an additional 122 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors.

Starbucks Stock Performance

NASDAQ:SBUX opened at $85.64 on Tuesday. The firm has a market cap of $97.35 billion, a PE ratio of 36.91, a price-to-earnings-growth ratio of 5.01 and a beta of 1.00. Starbucks Corporation has a fifty-two week low of $75.50 and a fifty-two week high of $117.46. The business has a 50 day moving average price of $88.34 and a 200-day moving average price of $88.83.

Starbucks (NASDAQ:SBUX - Get Free Report) last released 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 company had revenue of $9.46 billion for the quarter, compared to analysts' expectations of $9.29 billion. Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The business's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period last year, the company posted $0.93 EPS. Research analysts predict that Starbucks Corporation will post 2.99 EPS for the current year.

Analyst Upgrades and Downgrades

SBUX has been the subject of several recent analyst reports. Wells Fargo & Company boosted their price objective on Starbucks from $100.00 to $105.00 and gave the stock an "overweight" rating in a report on Wednesday, July 30th. JPMorgan Chase & Co. boosted their price objective on Starbucks from $100.00 to $105.00 and gave the stock an "overweight" rating in a report on Wednesday, July 30th. The Goldman Sachs Group reissued a "neutral" rating and set a $95.00 price objective (up previously from $85.00) on shares of Starbucks in a report on Thursday, June 12th. Barclays upped their target price on Starbucks from $106.00 to $115.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. Finally, BMO Capital Markets reaffirmed an "outperform" rating and issued a $115.00 target price (up previously from $100.00) on shares of Starbucks in a research note on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $104.00.

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.

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