Eagle Global Advisors LLC Has $7.72 Million Holdings in Starbucks Corporation $SBUX

Key Points

• Eagle Global Advisors LLC has reduced its holdings in Starbucks Corporation by 5.1%, now owning 84,222 shares valued at approximately $7.72 million.
• Starbucks reported $0.50 EPS for its latest quarter, missing analysts' expectations and showing a negative return on equity of 36.23%.
• Analysts have set new price targets for Starbucks, with Goldman Sachs maintaining a "neutral" rating and Baird upgrading it to "outperform" with a target price of $115.00.

Eagle Global Advisors LLC reduced its position in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 5.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 84,222 shares of the coffee company's stock after selling 4,533 shares during the period. Eagle Global Advisors LLC's holdings in Starbucks were worth $7,717,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the stock. Benin Management CORP increased its holdings in shares of Starbucks by 0.7% during the 1st quarter. Benin Management CORP now owns 16,575 shares of the coffee company's stock valued at $1,626,000 after acquiring an additional 120 shares during the last quarter. Ted Buchan & Co increased its holdings in shares of Starbucks by 1.5% during the 1st quarter. Ted Buchan & Co now owns 8,066 shares of the coffee company's stock valued at $791,000 after acquiring an additional 120 shares during the last quarter. Alexander Labrunerie & CO. Inc. increased its holdings in shares of Starbucks by 3.5% during the 1st quarter. Alexander Labrunerie & CO. Inc. now owns 3,561 shares of the coffee company's stock valued at $349,000 after acquiring an additional 122 shares during the last quarter. Private Wealth Management Group LLC increased its holdings in shares of Starbucks by 13.3% during the 1st quarter. Private Wealth Management Group LLC now owns 1,056 shares of the coffee company's stock valued at $104,000 after acquiring an additional 124 shares during the last quarter. Finally, Avalon Trust Co increased its holdings in shares of Starbucks by 5.5% during the 1st quarter. Avalon Trust Co now owns 2,384 shares of the coffee company's stock valued at $234,000 after acquiring an additional 124 shares during the last quarter. Institutional investors and hedge funds own 72.29% of the company's stock.

Starbucks Trading Down 0.5%

Shares of SBUX stock opened at $83.39 on Friday. The stock has a 50 day moving average of $88.48 and a two-hundred day moving average of $89.04. Starbucks Corporation has a 12 month low of $75.50 and a 12 month high of $117.46. The company has a market capitalization of $94.79 billion, a P/E ratio of 35.94, a P/E/G ratio of 5.01 and a beta of 1.00.

Starbucks (NASDAQ:SBUX - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The coffee company reported $0.50 EPS for the quarter, missing analysts' consensus estimates of $0.64 by ($0.14). Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%.The firm had revenue of $9.46 billion during the quarter, compared to the consensus estimate of $9.29 billion. During the same quarter in the prior year, the business posted $0.93 EPS. Starbucks's revenue was up 3.8% compared to the same quarter last year. Sell-side analysts predict that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SBUX has been the topic of a number of analyst reports. The Goldman Sachs Group reissued a "neutral" rating and set a $95.00 price objective (up previously from $85.00) on shares of Starbucks in a report on Thursday, June 12th. Robert W. Baird raised Starbucks from a "neutral" rating to an "outperform" rating and raised their target price for the company from $100.00 to $115.00 in a report on Tuesday, August 12th. Loop Capital set a $165.00 target price on Starbucks in a report on Tuesday, August 12th. Baird R W raised Starbucks from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 12th. Finally, CICC Research assumed coverage on Starbucks in a report on Monday, June 30th. They issued an "outperform" rating and a $100.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $104.40.

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.

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