Connective Portfolio Management LLC purchased a new position in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 11,300 shares of the coffee company's stock, valued at approximately $1,108,000. Starbucks comprises about 3.7% of Connective Portfolio Management LLC's holdings, making the stock its 11th largest holding.
A number of other hedge funds and other institutional investors have also made changes to their positions in SBUX. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Starbucks during the fourth quarter valued at about $25,000. Graney & King LLC acquired a new stake in shares of Starbucks during the fourth quarter valued at about $26,000. Runnymede Capital Advisors Inc. acquired a new stake in shares of Starbucks in the fourth quarter valued at $27,000. Marshall Investment Management LLC acquired a new stake in shares of Starbucks in the fourth quarter valued at $30,000. Finally, Noble Wealth Management PBC acquired a new stake in shares of Starbucks in the fourth quarter valued at $30,000. Institutional investors and hedge funds own 72.29% of the company's stock.
Starbucks Trading Up 0.9%
Shares of Starbucks stock opened at $93.12 on Friday. The company has a fifty day simple moving average of $85.88 and a 200-day simple moving average of $94.61. 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 $105.82 billion, a price-to-earnings ratio of 33.74, a PEG ratio of 4.70 and a beta of 1.00.
Starbucks (NASDAQ:SBUX - Get Free Report) last issued its 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 company had revenue of $8.76 billion during the quarter, compared to analyst estimates of $8.90 billion. Starbucks had a net margin of 8.61% and a negative return on equity of 42.14%. The company's quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.68 EPS. On average, analysts forecast that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently weighed in on SBUX shares. Citigroup lifted their price objective on Starbucks from $84.00 to $95.00 and gave the company a "neutral" rating in a research note on Thursday, June 12th. BMO Capital Markets dropped their price objective on shares of Starbucks from $115.00 to $100.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. Stifel Nicolaus reduced their target price on shares of Starbucks from $103.00 to $92.00 and set a "buy" rating on the stock in a report on Wednesday, April 30th. TD Securities reiterated a "hold" rating and set a $90.00 target price on shares of Starbucks in a report on Wednesday, June 11th. Finally, 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. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $98.96.
Get Our Latest Analysis on SBUX
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.
Further Reading
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