Dynamic Advisor Solutions LLC Makes New $819,000 Investment in Starbucks Corporation (NASDAQ:SBUX)

Dynamic Advisor Solutions LLC acquired a new position in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 8,348 shares of the coffee company's stock, valued at approximately $819,000.

Several other hedge funds also recently added to or reduced their stakes in SBUX. Norges Bank acquired a new position in Starbucks during the 4th quarter worth $1,244,812,000. Capital World Investors grew 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 acquiring an additional 9,174,682 shares in the last quarter. FMR LLC grew 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 acquiring an additional 5,348,790 shares in the last quarter. Capital Research Global Investors grew its holdings in Starbucks by 167.6% during the 4th quarter. Capital Research Global Investors now owns 5,690,198 shares of the coffee company's stock worth $519,230,000 after acquiring an additional 3,563,942 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Starbucks during the 4th quarter worth $284,283,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SBUX has been the subject of several research reports. Stifel Nicolaus decreased their price target on shares of Starbucks from $103.00 to $92.00 and set a "buy" rating for the company in a report on Wednesday, April 30th. Cowen lowered shares of Starbucks from a "buy" rating to a "hold" rating in a report on Thursday, May 29th. Guggenheim decreased their price target on shares of Starbucks from $95.00 to $83.00 and set a "neutral" rating for the company in a report on Tuesday, April 29th. Argus raised shares of Starbucks from a "hold" rating to a "buy" rating and set a $115.00 price target for the company in a report on Tuesday, March 18th. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $95.00 price target (up from $85.00) on shares of Starbucks in a report on Thursday, June 12th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $98.96.

Starbucks Trading Down 2.0%

SBUX stock opened at $91.59 on Wednesday. Starbucks Corporation has a 52 week low of $71.55 and a 52 week high of $117.46. The company has a market capitalization of $104.08 billion, a price-to-earnings ratio of 33.18, a price-to-earnings-growth ratio of 4.69 and a beta of 1.00. The firm's 50-day moving average is $85.50 and its two-hundred day moving average is $94.75.

Starbucks (NASDAQ:SBUX - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The coffee company reported $0.41 EPS for the quarter, missing analysts' consensus estimates of $0.51 by ($0.10). Starbucks had a negative return on equity of 42.14% and a net margin of 8.61%. The company had revenue of $8.76 billion for the quarter, compared to the consensus estimate of $8.90 billion. During the same quarter last year, the firm posted $0.68 earnings per share. The firm's quarterly revenue was up 2.3% compared to the same quarter last year. On average, equities research analysts predict that Starbucks Corporation will post 2.99 earnings per share for the current year.

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.

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