Cloud Capital Management LLC bought a new stake in Starbucks Corporation (NASDAQ:SBUX - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 3,151 shares of the coffee company's stock, valued at approximately $308,000.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of Starbucks by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 111,106,209 shares of the coffee company's stock valued at $10,138,442,000 after acquiring an additional 784,432 shares in the last quarter. Capital World Investors grew its position in shares of Starbucks by 20.1% in the fourth quarter. Capital World Investors now owns 54,924,230 shares of the coffee company's stock valued at $5,011,796,000 after purchasing an additional 9,174,682 shares during the period. FMR LLC boosted its stake in Starbucks by 27.0% in the 4th quarter. FMR LLC now owns 25,128,649 shares of the coffee company's stock worth $2,292,989,000 after buying an additional 5,348,790 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Starbucks by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 24,826,001 shares of the coffee company's stock worth $2,259,516,000 after acquiring an additional 548,245 shares during the period. Finally, Wellington Management Group LLP boosted its position in shares of Starbucks by 4.7% in the fourth quarter. Wellington Management Group LLP now owns 15,868,817 shares of the coffee company's stock worth $1,448,030,000 after acquiring an additional 718,880 shares during the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on SBUX shares. Baird R W downgraded Starbucks from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 7th. Sanford C. Bernstein upped their price target on shares of Starbucks from $90.00 to $100.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 2nd. Stifel Nicolaus decreased their target price on Starbucks from $103.00 to $92.00 and set a "buy" rating for the company in a research report on Wednesday, April 30th. Wall Street Zen lowered Starbucks from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Finally, TD Cowen reiterated a "hold" rating and issued a $90.00 price objective on shares of Starbucks in a report on Thursday, May 29th. Three 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 stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $98.23.
Get Our Latest Analysis on Starbucks
Starbucks Stock Performance
NASDAQ:SBUX traded up $0.03 during trading hours on Monday, hitting $94.47. 1,601,607 shares of the company's stock traded hands, compared to its average volume of 10,899,103. Starbucks Corporation has a twelve month low of $71.55 and a twelve month high of $117.46. The stock's fifty day moving average price is $87.93 and its two-hundred day moving average price is $94.35. The firm has a market cap of $107.35 billion, a P/E ratio of 34.26, a P/E/G ratio of 4.84 and a beta of 1.02.
Starbucks (NASDAQ:SBUX - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The coffee company reported $0.41 earnings per share for the quarter, missing analysts' consensus estimates of $0.51 by ($0.10). Starbucks had a negative return on equity of 42.14% and a net margin of 8.61%. The firm had revenue of $8.76 billion for the quarter, compared to analysts' expectations of $8.90 billion. During the same period last year, the business earned $0.68 earnings per share. The firm's revenue for the quarter was up 2.3% on a year-over-year basis. On average, equities research analysts predict that Starbucks Corporation will post 2.99 earnings per share for the current year.
About Starbucks
(
Free Report)
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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