DekaBank Deutsche Girozentrale Boosts Stock Holdings in Starbucks Corporation (NASDAQ:SBUX)

DekaBank Deutsche Girozentrale grew its holdings in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 11.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 432,452 shares of the coffee company's stock after purchasing an additional 43,395 shares during the period. DekaBank Deutsche Girozentrale's holdings in Starbucks were worth $42,049,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Personal CFO Solutions LLC lifted its holdings in shares of Starbucks by 125.5% during the 1st quarter. Personal CFO Solutions LLC now owns 9,254 shares of the coffee company's stock valued at $908,000 after purchasing an additional 5,151 shares during the last quarter. Valeo Financial Advisors LLC raised its stake in Starbucks by 1.4% in the 1st quarter. Valeo Financial Advisors LLC now owns 62,125 shares of the coffee company's stock worth $6,094,000 after acquiring an additional 887 shares during the last quarter. SilverOak Wealth Management LLC purchased a new position in Starbucks in the 1st quarter worth $398,000. 49 Wealth Management LLC raised its stake in Starbucks by 3.5% in the 1st quarter. 49 Wealth Management LLC now owns 5,232 shares of the coffee company's stock worth $513,000 after acquiring an additional 176 shares during the last quarter. Finally, Stratos Wealth Advisors LLC raised its stake in Starbucks by 3.6% in the 1st quarter. Stratos Wealth Advisors LLC now owns 6,940 shares of the coffee company's stock worth $681,000 after acquiring an additional 240 shares during the last quarter. Hedge funds and other institutional investors own 72.29% of the company's stock.

Starbucks Trading Up 0.3%

Shares of SBUX stock traded up $0.31 on Wednesday, reaching $95.25. 8,310,629 shares of the stock were exchanged, compared to its average volume of 10,895,355. The business's 50 day moving average price is $88.33 and its 200 day moving average price is $94.40. The company has a market capitalization of $108.24 billion, a price-to-earnings ratio of 34.51, a PEG ratio of 4.80 and a beta of 1.02. Starbucks Corporation has a twelve month low of $71.55 and a twelve month high of $117.46.

Starbucks (NASDAQ:SBUX - Get Free Report) last released its quarterly earnings data 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). Starbucks had a net margin of 8.61% and a negative return on equity of 42.14%. The company had revenue of $8.76 billion during the quarter, compared to analyst estimates of $8.90 billion. During the same quarter in the prior year, the company earned $0.68 EPS. The business's revenue was up 2.3% on a year-over-year basis. Equities research analysts forecast that Starbucks Corporation will post 2.99 earnings per share for the current year.

Wall Street Analyst Weigh In

SBUX has been the subject of a number of research analyst reports. TD Cowen restated a "hold" rating and issued a $90.00 target price on shares of Starbucks in a research note on Thursday, May 29th. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $95.00 price target (up from $85.00) on shares of Starbucks in a research report on Thursday, June 12th. CICC Research began coverage on Starbucks in a research report on Monday, June 30th. They set an "outperform" rating and a $100.00 price target on the stock. Cowen reaffirmed a "hold" rating on shares of Starbucks in a research report on Tuesday, June 24th. Finally, Guggenheim cut their price target on Starbucks from $95.00 to $83.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 29th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $98.23.

Starbucks Company 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.