GC Wealth Management RIA LLC Makes New Investment in Starbucks Corporation $SBUX

GC Wealth Management RIA LLC acquired a new position in Starbucks Corporation (NASDAQ:SBUX - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 8,038 shares of the coffee company's stock, valued at approximately $737,000.

Several other hedge funds have also added to or reduced their stakes in SBUX. Nuveen LLC bought a new stake in Starbucks in the first quarter worth about $1,379,619,000. Jennison Associates LLC purchased a new position in shares of Starbucks in the first quarter worth about $817,759,000. Polen Capital Management LLC purchased a new position in shares of Starbucks in the first quarter worth about $503,539,000. Goldman Sachs Group Inc. increased its stake in shares of Starbucks by 59.5% in the first quarter. Goldman Sachs Group Inc. now owns 9,623,282 shares of the coffee company's stock worth $943,948,000 after purchasing an additional 3,589,537 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in shares of Starbucks by 22.3% in the first quarter. Wellington Management Group LLP now owns 19,414,472 shares of the coffee company's stock worth $1,904,366,000 after purchasing an additional 3,545,655 shares in the last quarter. Institutional investors own 72.29% of the company's stock.

Starbucks Trading Down 1.2%

Starbucks stock opened at $84.60 on Wednesday. Starbucks Corporation has a 1-year low of $75.50 and a 1-year high of $117.46. The firm has a market capitalization of $96.16 billion, a PE ratio of 36.47, a price-to-earnings-growth ratio of 5.15 and a beta of 1.00. The firm's 50 day simple moving average is $88.09 and its 200 day simple moving average is $88.80.

Starbucks (NASDAQ:SBUX - Get Free Report) last released its quarterly earnings results 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 company had revenue of $9.46 billion during the quarter, compared to analysts' expectations of $9.29 billion. During the same period in the prior year, the firm earned $0.93 EPS. Starbucks's quarterly revenue was up 3.8% on a year-over-year basis. Research analysts forecast that Starbucks Corporation will post 2.99 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Guggenheim lifted their target price on shares of Starbucks from $79.00 to $90.00 and gave the stock a "neutral" rating in a research note on Thursday, July 31st. Cowen reiterated a "hold" rating on shares of Starbucks in a research note on Tuesday, June 24th. Baird R W upgraded shares of Starbucks from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 12th. Citigroup reduced their target price on shares of Starbucks from $100.00 to $99.00 and set a "neutral" rating for the company in a research note on Wednesday, July 30th. Finally, 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 research note on Thursday, June 12th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $104.00.

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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