Concurrent Investment Advisors LLC Grows Position in Starbucks Corporation (NASDAQ:SBUX)

Concurrent Investment Advisors LLC lifted its holdings in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 14.9% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 59,768 shares of the coffee company's stock after purchasing an additional 7,731 shares during the quarter. Concurrent Investment Advisors LLC's holdings in Starbucks were worth $5,863,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Vanguard Capital Wealth Advisors acquired a new stake in shares of Starbucks during the fourth quarter worth $285,000. OFI Invest Asset Management acquired a new stake in shares of Starbucks during the fourth quarter worth $9,497,000. Czech National Bank boosted its holdings in shares of Starbucks by 6.2% during the first quarter. Czech National Bank now owns 260,898 shares of the coffee company's stock worth $25,591,000 after purchasing an additional 15,132 shares during the last quarter. Treasurer of the State of North Carolina boosted its holdings in Starbucks by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 498,511 shares of the coffee company's stock valued at $45,489,000 after acquiring an additional 3,130 shares during the last quarter. Finally, Markel Group Inc. boosted its holdings in Starbucks by 2.8% in the fourth quarter. Markel Group Inc. now owns 617,318 shares of the coffee company's stock valued at $56,330,000 after acquiring an additional 17,000 shares during the last quarter. Institutional investors and hedge funds own 72.29% of the company's stock.

Starbucks Stock Up 0.3%

Shares of Starbucks stock opened at $94.44 on Friday. The firm has a market cap of $107.32 billion, a P/E ratio of 34.22, a P/E/G ratio of 4.84 and a beta of 1.02. Starbucks Corporation has a fifty-two week low of $71.55 and a fifty-two week high of $117.46. The business has a 50-day moving average price of $87.93 and a 200 day moving average price of $94.31.

Starbucks (NASDAQ:SBUX - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The coffee company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.10). The firm had revenue of $8.76 billion during 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%. The firm's quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.68 earnings per share. As a group, equities research analysts anticipate that Starbucks Corporation will post 2.99 earnings per share for the current year.

Analyst Upgrades and Downgrades

SBUX has been the topic of a number of research analyst reports. Cowen reiterated a "hold" rating on shares of Starbucks in a report on Tuesday, June 24th. Royal Bank Of Canada boosted their price objective on Starbucks from $95.00 to $100.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 11th. JPMorgan Chase & Co. reduced their price objective on Starbucks from $105.00 to $100.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 30th. TD Cowen restated a "hold" rating and set a $90.00 price objective on shares of Starbucks in a research note on Thursday, May 29th. Finally, Guggenheim reduced their price objective on Starbucks from $95.00 to $83.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 29th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $98.23.

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.

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