GAM Holding AG acquired a new stake in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 18,308 shares of the coffee company's stock, valued at approximately $1,796,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. TrinityPoint Wealth LLC increased its holdings in Starbucks by 2.7% in the 4th quarter. TrinityPoint Wealth LLC now owns 3,421 shares of the coffee company's stock valued at $312,000 after purchasing an additional 89 shares during the last quarter. Pioneer Trust Bank N A OR increased its holdings in Starbucks by 0.8% in the 4th quarter. Pioneer Trust Bank N A OR now owns 11,312 shares of the coffee company's stock valued at $1,032,000 after purchasing an additional 92 shares during the last quarter. Wintrust Investments LLC increased its holdings in Starbucks by 7.1% in the 4th quarter. Wintrust Investments LLC now owns 1,411 shares of the coffee company's stock valued at $128,000 after purchasing an additional 94 shares during the last quarter. Gamco Investors INC. ET AL increased its holdings in Starbucks by 3.5% in the 4th quarter. Gamco Investors INC. ET AL now owns 2,860 shares of the coffee company's stock valued at $261,000 after purchasing an additional 97 shares during the last quarter. Finally, Foster Dykema Cabot & Partners LLC increased its holdings in Starbucks by 10.6% in the 4th quarter. Foster Dykema Cabot & Partners LLC now owns 1,014 shares of the coffee company's stock valued at $93,000 after purchasing an additional 97 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors.
Starbucks Trading Up 0.9%
Shares of SBUX opened at $93.12 on Friday. Starbucks Corporation has a twelve month low of $71.55 and a twelve month high of $117.46. The firm's fifty day simple moving average is $85.88 and its 200-day simple moving average is $94.57. The firm has a market capitalization of $105.82 billion, a price-to-earnings ratio of 33.74, a PEG ratio of 4.74 and a beta of 1.00.
Starbucks (NASDAQ:SBUX - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The coffee company reported $0.41 EPS for the quarter, missing the consensus estimate 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 analyst estimates of $8.90 billion. During the same quarter in the prior year, the business earned $0.68 earnings per share. Starbucks's revenue was up 2.3% compared to the same quarter last year. On average, analysts predict that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
SBUX has been the subject of several research reports. Stifel Nicolaus dropped their target price 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. The Goldman Sachs Group reiterated a "neutral" rating and issued a $95.00 target price (up previously from $85.00) on shares of Starbucks in a report on Thursday, June 12th. Royal Bank Of Canada lifted their target price on shares of Starbucks from $95.00 to $100.00 and gave the company an "outperform" rating in a report on Wednesday, June 11th. Cowen cut shares of Starbucks from a "buy" rating to a "hold" rating in a research report on Thursday, May 29th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Starbucks from $105.00 to $100.00 and set an "overweight" rating for the company in a research report on Wednesday, April 30th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, Starbucks currently has a consensus rating of "Hold" and a consensus target price of $98.96.
View Our Latest Research Report on SBUX
About Starbucks
(
Free Report)
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.
Further Reading
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