Conway Capital Management Inc. Has $4.32 Million Stock Position in Starbucks Co. (NASDAQ:SBUX)

Conway Capital Management Inc. increased its stake in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 38.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 44,038 shares of the coffee company's stock after buying an additional 12,160 shares during the period. Starbucks accounts for approximately 2.2% of Conway Capital Management Inc.'s holdings, making the stock its 11th biggest holding. Conway Capital Management Inc.'s holdings in Starbucks were worth $4,320,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in SBUX. Vanguard Group Inc. raised its holdings in Starbucks by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 111,106,209 shares of the coffee company's stock worth $10,138,442,000 after purchasing an additional 784,432 shares during the last quarter. Capital World Investors raised its holdings in Starbucks by 20.1% during the 4th quarter. Capital World Investors now owns 54,924,230 shares of the coffee company's stock worth $5,011,796,000 after purchasing an additional 9,174,682 shares during the last quarter. FMR LLC raised its holdings in Starbucks by 27.0% during the 4th quarter. FMR LLC now owns 25,128,649 shares of the coffee company's stock worth $2,292,989,000 after purchasing an additional 5,348,790 shares during the last quarter. Geode Capital Management LLC raised its holdings in Starbucks by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 24,826,001 shares of the coffee company's stock worth $2,259,516,000 after purchasing an additional 548,245 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings in Starbucks by 4.7% during the 4th quarter. Wellington Management Group LLP now owns 15,868,817 shares of the coffee company's stock worth $1,448,030,000 after purchasing an additional 718,880 shares during the last quarter. Institutional investors and hedge funds own 72.29% of the company's stock.

Starbucks Trading Down 1.1%

NASDAQ SBUX opened at $93.26 on Monday. The company has a market cap of $105.98 billion, a PE ratio of 30.08, a PEG ratio of 3.59 and a beta of 1.00. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $117.46. The stock has a 50 day moving average of $85.17 and a 200-day moving average of $94.84.

Starbucks (NASDAQ:SBUX - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The coffee company reported $0.41 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 9.73% and a negative return on equity of 44.97%. The company's quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.68 EPS. As a group, sell-side analysts predict that Starbucks Co. will post 2.99 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on SBUX shares. TD Securities reissued a "hold" rating and set a $90.00 price objective on shares of Starbucks in a report on Wednesday, June 11th. JPMorgan Chase & Co. lowered their price target on Starbucks from $105.00 to $100.00 and set an "overweight" rating for the company in a research note on Wednesday, April 30th. UBS Group lowered their price target on Starbucks from $105.00 to $90.00 and set a "neutral" rating for the company in a research note on Monday, April 28th. Wells Fargo & Company lowered their price target on Starbucks from $125.00 to $100.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Finally, Citigroup upped their price target on Starbucks from $84.00 to $95.00 and gave the company a "neutral" rating in a research note on Thursday. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $98.96.

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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