Concurrent Investment Advisors LLC increased its position in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 14.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 59,768 shares of the coffee company's stock after buying an additional 7,731 shares during the period. Concurrent Investment Advisors LLC's holdings in Starbucks were worth $5,863,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SBUX. Brighton Jones LLC increased its position in Starbucks by 86.5% during the fourth quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company's stock worth $16,126,000 after buying an additional 81,952 shares during the last quarter. Proficio Capital Partners LLC boosted its stake in shares of Starbucks by 10.3% during the 4th quarter. Proficio Capital Partners LLC now owns 7,647 shares of the coffee company's stock worth $698,000 after acquiring an additional 714 shares in the last quarter. Callan Family Office LLC acquired a new position in shares of Starbucks during the 4th quarter valued at about $1,326,000. Destination Wealth Management raised its stake in shares of Starbucks by 106.3% in the 4th quarter. Destination Wealth Management now owns 4,883 shares of the coffee company's stock valued at $446,000 after acquiring an additional 2,516 shares in the last quarter. Finally, Aviance Capital Partners LLC raised its stake in shares of Starbucks by 22.5% in the 4th quarter. Aviance Capital Partners LLC now owns 4,571 shares of the coffee company's stock valued at $417,000 after acquiring an additional 840 shares in the last quarter. Institutional investors own 72.29% of the company's stock.
Wall Street Analyst Weigh In
Several brokerages have commented on SBUX. Royal Bank Of Canada increased their price target on Starbucks from $95.00 to $100.00 and gave the company an "outperform" rating in a report on Wednesday, June 11th. Jefferies Financial Group raised shares of Starbucks from an "underperform" rating to a "hold" rating and set a $76.00 price objective for the company in a report on Wednesday, April 9th. Cowen reiterated a "hold" rating on shares of Starbucks in a report on Tuesday, June 24th. Evercore ISI reissued an "outperform" rating and set a $105.00 target price (up previously from $95.00) on shares of Starbucks in a research report on Tuesday, June 24th. Finally, Barclays reaffirmed an "overweight" rating and issued a $108.00 price target (up from $98.00) on shares of Starbucks in a research report on Thursday, June 26th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $98.23.
Check Out Our Latest Research Report on SBUX
Starbucks Stock Performance
Shares of NASDAQ:SBUX traded up $0.26 during midday trading on Friday, reaching $94.44. 3,557,273 shares of the company's stock were exchanged, compared to its average volume of 10,935,717. The company's 50 day simple moving average is $87.93 and its two-hundred day simple moving average is $94.31. Starbucks Corporation has a 12 month low of $71.55 and a 12 month high of $117.46. The firm has a market capitalization of $107.32 billion, a PE ratio of 34.22, a price-to-earnings-growth 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 (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.10). The business had revenue of $8.76 billion during the quarter, compared to analyst estimates of $8.90 billion. Starbucks had a negative return on equity of 42.14% and a net margin of 8.61%. The business's revenue for the quarter was up 2.3% on a year-over-year basis. During the same period last year, the company earned $0.68 EPS. On average, research analysts anticipate that Starbucks Corporation will post 2.99 earnings per share for the current year.
Starbucks Profile
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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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