Confluence Wealth Services Inc. Increases Stock Position in Starbucks Corporation (NASDAQ:SBUX)

Confluence Wealth Services Inc. grew its stake in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 84.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,571 shares of the coffee company's stock after buying an additional 3,018 shares during the period. Confluence Wealth Services Inc.'s holdings in Starbucks were worth $645,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. TrinityPoint Wealth LLC grew its stake in shares of Starbucks by 2.7% during the 4th quarter. TrinityPoint Wealth LLC now owns 3,421 shares of the coffee company's stock valued at $312,000 after buying an additional 89 shares during the period. Pioneer Trust Bank N A OR lifted its holdings in shares of Starbucks by 0.8% during the 4th quarter. Pioneer Trust Bank N A OR now owns 11,312 shares of the coffee company's stock valued at $1,032,000 after acquiring an additional 92 shares in the last quarter. Wintrust Investments LLC lifted its holdings in shares of Starbucks by 7.1% during the 4th quarter. Wintrust Investments LLC now owns 1,411 shares of the coffee company's stock valued at $128,000 after acquiring an additional 94 shares in the last quarter. Foster Dykema Cabot & Partners LLC lifted its holdings in shares of Starbucks by 10.6% during the 4th quarter. Foster Dykema Cabot & Partners LLC now owns 1,014 shares of the coffee company's stock valued at $93,000 after acquiring an additional 97 shares in the last quarter. Finally, Gamco Investors INC. ET AL lifted its holdings in shares of Starbucks by 3.5% during the 4th quarter. Gamco Investors INC. ET AL now owns 2,860 shares of the coffee company's stock valued at $261,000 after acquiring an additional 97 shares in the last quarter. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Stock Performance

SBUX opened at $92.11 on Friday. The company has a 50-day moving average of $86.80 and a 200-day moving average of $94.32. The company has a market capitalization of $104.67 billion, a P/E ratio of 33.37, a PEG ratio of 4.72 and a beta of 1.00. Starbucks Corporation has a 1-year low of $71.55 and a 1-year high of $117.46.

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 analysts' consensus estimates of $0.51 by ($0.10). Starbucks had a net margin of 8.61% and a negative return on equity of 42.14%. The business had revenue of $8.76 billion for the quarter, compared to the consensus estimate of $8.90 billion. During the same period in the prior year, the company earned $0.68 EPS. Starbucks's quarterly revenue was up 2.3% on a year-over-year basis. As a group, sell-side analysts expect that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

SBUX has been the topic of several recent research reports. Argus upgraded shares of Starbucks from a "hold" rating to a "buy" rating and set a $115.00 target price on the stock in a report on Tuesday, March 18th. The Goldman Sachs Group restated a "neutral" rating and set a $95.00 target price (up previously from $85.00) on shares of Starbucks in a report on Thursday, June 12th. Wells Fargo & Company reduced their target price on shares of Starbucks from $125.00 to $100.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Wall Street Zen lowered shares of Starbucks from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Finally, Baird R W lowered shares of Starbucks from a "strong-buy" rating to a "hold" rating in a report on Monday, April 7th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $98.76.

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.

Want to see what other hedge funds are holding SBUX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Starbucks Corporation (NASDAQ:SBUX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.