Starbucks Corporation (NASDAQ:SBUX) Shares Acquired by China Universal Asset Management Co. Ltd.

China Universal Asset Management Co. Ltd. grew its stake in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 51.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 28,152 shares of the coffee company's stock after purchasing an additional 9,604 shares during the period. China Universal Asset Management Co. Ltd.'s holdings in Starbucks were worth $2,761,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. University of Texas Texas AM Investment Management Co. purchased a new position in Starbucks in the fourth quarter worth approximately $25,000. Graney & King LLC purchased a new position in Starbucks in the fourth quarter worth approximately $26,000. Runnymede Capital Advisors Inc. purchased a new position in Starbucks in the fourth quarter worth approximately $27,000. Kapitalo Investimentos Ltda purchased a new position in Starbucks in the fourth quarter worth approximately $32,000. Finally, Ball & Co Wealth Management Inc. purchased a new position in Starbucks in the fourth quarter worth approximately $41,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Starbucks Trading Down 0.2%

NASDAQ:SBUX traded down $0.21 during trading hours on Friday, hitting $94.94. The stock had a trading volume of 6,339,055 shares, compared to its average volume of 10,850,827. Starbucks Corporation has a 1-year low of $71.55 and a 1-year high of $117.46. The business has a 50 day simple moving average of $89.10 and a two-hundred day simple moving average of $94.49. The company has a market cap of $107.89 billion, a PE ratio of 34.40, a price-to-earnings-growth ratio of 4.87 and a beta of 1.02.

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

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Baird R W lowered Starbucks from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 7th. Stifel Nicolaus raised their price target on Starbucks from $92.00 to $105.00 and gave the stock a "buy" rating in a research report on Friday. CICC Research initiated coverage on Starbucks in a research report on Monday, June 30th. They set an "outperform" rating and a $100.00 price target for the company. Wells Fargo & Company decreased their target price on Starbucks from $125.00 to $100.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Finally, The Goldman Sachs Group reissued a "neutral" rating and set a $95.00 target price (up from $85.00) on shares of Starbucks in a research note on Thursday, June 12th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and fifteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $98.73.

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.