Clarius Group LLC Has $40.51 Million Stake in Starbucks Corporation (NASDAQ:SBUX)

Clarius Group LLC increased its position in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 517.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 412,939 shares of the coffee company's stock after purchasing an additional 346,032 shares during the quarter. Starbucks makes up 2.5% of Clarius Group LLC's holdings, making the stock its 9th largest position. Clarius Group LLC's holdings in Starbucks were worth $40,505,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. University of Texas Texas AM Investment Management Co. bought a new position in shares of Starbucks in the fourth quarter valued at about $25,000. Graney & King LLC bought a new stake in shares of Starbucks during the 4th quarter worth about $26,000. Runnymede Capital Advisors Inc. acquired a new position in Starbucks in the 4th quarter valued at about $27,000. Marshall Investment Management LLC bought a new position in Starbucks in the 4th quarter valued at about $30,000. Finally, Noble Wealth Management PBC acquired a new stake in Starbucks during the fourth quarter worth approximately $30,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on SBUX shares. The Goldman Sachs Group reiterated a "neutral" rating and set a $95.00 target price (up previously from $85.00) on shares of Starbucks in a research note on Thursday, June 12th. Robert W. Baird reiterated a "neutral" rating and set a $85.00 price objective (down previously from $114.00) on shares of Starbucks in a research report on Monday, April 7th. Cowen cut shares of Starbucks from a "buy" rating to a "hold" rating in a research report on Thursday, May 29th. Wells Fargo & Company decreased their price target on shares of Starbucks from $125.00 to $100.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Finally, Guggenheim lowered their price target on shares of Starbucks from $95.00 to $83.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 29th. Three equities 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 stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $98.96.

Starbucks Stock Down 2.0%

Shares of SBUX stock opened at $91.59 on Wednesday. The business has a fifty day simple moving average of $85.50 and a 200 day simple moving average of $94.75. The company has a market cap of $104.08 billion, a P/E ratio of 33.18, a P/E/G ratio of 4.69 and a beta of 1.00. Starbucks Corporation has a twelve month low of $71.55 and a twelve month high of $117.46.

Starbucks (NASDAQ:SBUX - Get Free Report) last issued 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). Starbucks had a negative return on equity of 42.14% and a net margin of 8.61%. The business had revenue of $8.76 billion for the quarter, compared to analyst estimates of $8.90 billion. During the same period in the previous year, the firm posted $0.68 EPS. The firm's revenue was up 2.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Starbucks Corporation will post 2.99 earnings per share 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.

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