Cohen Investment Advisors LLC Purchases 261,458 Shares of Starbucks Corporation (NASDAQ:SBUX)

Cohen Investment Advisors LLC lifted its position in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 1,122.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 284,742 shares of the coffee company's stock after buying an additional 261,458 shares during the period. Starbucks comprises 0.7% of Cohen Investment Advisors LLC's holdings, making the stock its 26th largest position. Cohen Investment Advisors LLC's holdings in Starbucks were worth $27,930,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Starbucks in the 4th quarter valued at about $25,000. Graney & King LLC acquired a new stake in shares of Starbucks in the 4th quarter valued at about $26,000. Runnymede Capital Advisors Inc. acquired a new stake in shares of Starbucks in the 4th quarter valued at about $27,000. Noble Wealth Management PBC acquired a new stake in shares of Starbucks in the 4th quarter valued at about $30,000. Finally, Kapitalo Investimentos Ltda acquired a new stake in shares of Starbucks in the 4th quarter valued at about $32,000. Institutional investors own 72.29% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on SBUX shares. JPMorgan Chase & Co. dropped their price target on Starbucks from $105.00 to $100.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 30th. Stifel Nicolaus decreased their price objective on Starbucks from $103.00 to $92.00 and set a "buy" rating for the company in a report on Wednesday, April 30th. Cowen restated a "hold" rating on shares of Starbucks in a report on Tuesday, June 24th. Royal Bank Of Canada raised their price objective on Starbucks from $95.00 to $100.00 and gave the company an "outperform" rating in a report on Wednesday, June 11th. Finally, Robert W. Baird restated a "neutral" rating and issued a $85.00 price objective (down previously from $114.00) on shares of Starbucks in a report on Monday, April 7th. Three 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 company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $98.76.

Starbucks Stock Up 0.3%

Shares of NASDAQ:SBUX opened at $92.11 on Friday. Starbucks Corporation has a 12-month low of $71.55 and a 12-month high of $117.46. The stock has a market cap of $104.67 billion, a PE ratio of 33.37, a P/E/G ratio of 4.72 and a beta of 1.00. The business has a 50 day moving average of $86.80 and a 200-day moving average of $94.32.

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 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 the consensus estimate of $8.90 billion. During the same quarter in the prior year, the firm earned $0.68 EPS. The company's revenue was up 2.3% on a year-over-year basis. Equities research analysts expect 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.

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