China Universal Asset Management Co. Ltd. Boosts Stock Holdings in Starbucks Corporation (NASDAQ:SBUX)

China Universal Asset Management Co. Ltd. grew its holdings in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 51.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 28,152 shares of the coffee company's stock after buying 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 SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Norges Bank bought a new position in Starbucks in the fourth quarter worth about $1,244,812,000. Capital World Investors grew 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 worth $5,011,796,000 after purchasing an additional 9,174,682 shares during the period. FMR LLC grew its stake in Starbucks by 27.0% in the fourth quarter. FMR LLC now owns 25,128,649 shares of the coffee company's stock worth $2,292,989,000 after purchasing an additional 5,348,790 shares during the period. Capital Research Global Investors grew its stake in Starbucks by 167.6% in the fourth quarter. Capital Research Global Investors now owns 5,690,198 shares of the coffee company's stock worth $519,230,000 after purchasing an additional 3,563,942 shares during the period. Finally, Toronto Dominion Bank grew its stake in shares of Starbucks by 629.5% in the fourth quarter. Toronto Dominion Bank now owns 3,190,114 shares of the coffee company's stock worth $291,097,000 after acquiring an additional 2,752,809 shares during the last quarter. 72.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on SBUX. The Goldman Sachs Group reissued a "neutral" rating and issued a $95.00 target price (up from $85.00) on shares of Starbucks in a research note on Thursday, June 12th. Barclays reiterated an "overweight" rating and set a $108.00 price target (up previously from $98.00) on shares of Starbucks in a report on Thursday, June 26th. BMO Capital Markets cut their price target on shares of Starbucks from $115.00 to $100.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. Royal Bank Of Canada increased their price target on shares of Starbucks from $95.00 to $100.00 and gave the company an "outperform" rating in a report on Wednesday, June 11th. Finally, Guggenheim cut their price target on shares of Starbucks from $95.00 to $83.00 and set a "neutral" rating on the stock in a report on Tuesday, April 29th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and fifteen 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 price target of $98.73.

Starbucks Stock Performance

Shares of NASDAQ SBUX traded down $0.72 during trading on Friday, hitting $94.43. The company had a trading volume of 1,721,376 shares, compared to its average volume of 10,839,445. The stock has a 50 day simple moving average of $88.90 and a 200 day simple moving average of $94.46. Starbucks Corporation has a 12 month low of $71.55 and a 12 month high of $117.46. The firm has a market capitalization of $107.31 billion, a P/E ratio of 34.21, a price-to-earnings-growth ratio of 4.88 and a beta of 1.02.

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

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.