Cloud Capital Management LLC Takes $308,000 Position in Starbucks Corporation (NASDAQ:SBUX)

Cloud Capital Management LLC bought a new stake in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 3,151 shares of the coffee company's stock, valued at approximately $308,000.

Several other institutional investors have also added to or reduced their stakes in the business. Capital & Planning LLC boosted its stake in Starbucks by 7.4% during the 1st quarter. Capital & Planning LLC now owns 12,930 shares of the coffee company's stock valued at $1,268,000 after purchasing an additional 891 shares during the last quarter. Adell Harriman & Carpenter Inc. boosted its stake in Starbucks by 10.9% during the 1st quarter. Adell Harriman & Carpenter Inc. now owns 20,788 shares of the coffee company's stock valued at $2,039,000 after purchasing an additional 2,050 shares during the last quarter. Concurrent Investment Advisors LLC boosted its stake in Starbucks by 14.9% during the 1st quarter. Concurrent Investment Advisors LLC now owns 59,768 shares of the coffee company's stock valued at $5,863,000 after purchasing an additional 7,731 shares during the last quarter. HM Payson & Co. lifted its holdings in shares of Starbucks by 3.1% during the 1st quarter. HM Payson & Co. now owns 7,471 shares of the coffee company's stock valued at $733,000 after buying an additional 228 shares during the period. Finally, World Investment Advisors lifted its holdings in shares of Starbucks by 14.0% during the 1st quarter. World Investment Advisors now owns 72,866 shares of the coffee company's stock valued at $7,147,000 after buying an additional 8,966 shares during the period. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Wells Fargo & Company lowered their price target on Starbucks from $125.00 to $100.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Barclays reissued an "overweight" rating and set a $108.00 price target (up from $98.00) on shares of Starbucks in a report on Thursday, June 26th. Citigroup increased their price target on Starbucks from $84.00 to $95.00 and gave the company a "neutral" rating in a report on Thursday, June 12th. JPMorgan Chase & Co. lowered their price target on Starbucks from $105.00 to $100.00 and set an "overweight" rating on the stock in a report on Wednesday, April 30th. Finally, Stifel Nicolaus lowered their price target on Starbucks from $103.00 to $92.00 and set a "buy" rating on the stock in a report on Wednesday, April 30th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and fifteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $98.23.

Starbucks Stock Up 0.3%

NASDAQ:SBUX traded up $0.26 on Friday, reaching $94.44. 3,557,273 shares of the company's stock traded hands, compared to its average volume of 10,935,717. The stock has a 50-day simple moving average of $87.93 and a 200-day simple moving average of $94.31. The firm has a market cap of $107.32 billion, a PE ratio of 34.22, a P/E/G ratio of 4.84 and a beta of 1.02. Starbucks Corporation has a 12 month low of $71.55 and a 12 month high of $117.46.

Starbucks (NASDAQ:SBUX - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The coffee company reported $0.41 EPS for the quarter, missing analysts' consensus estimates 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 net margin of 8.61% and a negative return on equity of 42.14%. Starbucks's revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.68 earnings per share. On average, equities analysts anticipate that Starbucks Corporation will post 2.99 earnings per share for the current 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.