22,028 Shares in Starbucks Corporation (NASDAQ:SBUX) Bought by Financial Gravity Asset Management Inc.

Financial Gravity Asset Management Inc. bought a new stake in Starbucks Corporation (NASDAQ:SBUX - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 22,028 shares of the coffee company's stock, valued at approximately $2,161,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SBUX. Vanguard Capital Wealth Advisors purchased a new position in Starbucks during the fourth quarter worth about $285,000. Czech National Bank raised its stake in Starbucks by 6.2% during the first quarter. Czech National Bank now owns 260,898 shares of the coffee company's stock worth $25,591,000 after purchasing an additional 15,132 shares during the period. Treasurer of the State of North Carolina raised its stake in Starbucks by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 498,511 shares of the coffee company's stock worth $45,489,000 after purchasing an additional 3,130 shares during the period. Personal CFO Solutions LLC raised its stake in shares of Starbucks by 125.5% in the 1st quarter. Personal CFO Solutions LLC now owns 9,254 shares of the coffee company's stock valued at $908,000 after acquiring an additional 5,151 shares during the period. Finally, Vanguard Group Inc. raised its stake in shares of Starbucks by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 111,106,209 shares of the coffee company's stock valued at $10,138,442,000 after acquiring an additional 784,432 shares during the period. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Evercore ISI reissued an "outperform" rating and issued a $105.00 price target (up from $95.00) on shares of Starbucks in a research note on Tuesday, June 24th. TD Securities reissued a "hold" rating and issued a $90.00 price target on shares of Starbucks in a research note on Monday, June 23rd. JPMorgan Chase & Co. reduced their price target on shares of Starbucks from $105.00 to $100.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 30th. TD Cowen reissued a "hold" rating and issued a $90.00 price target on shares of Starbucks in a research note on Thursday, May 29th. Finally, Barclays reissued an "overweight" rating and issued a $108.00 price target (up from $98.00) on shares of Starbucks in a research note on Thursday, June 26th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fifteen have given a buy rating to the company's stock. According to data from MarketBeat.com, Starbucks currently has a consensus rating of "Hold" and a consensus price target of $98.73.

Starbucks Stock Down 0.2%

Shares of SBUX traded down $0.21 during mid-day trading on Friday, reaching $94.94. 6,339,055 shares of the stock traded hands, compared to its average volume of 10,851,998. The firm has a market cap of $107.89 billion, a price-to-earnings ratio of 34.40, a P/E/G ratio of 4.87 and a beta of 1.02. The stock has a fifty day simple moving average of $89.10 and a 200 day simple moving average of $94.49. Starbucks Corporation has a 12-month low of $71.55 and a 12-month high of $117.46.

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

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.