Golden State Wealth Management LLC Buys 8,668 Shares of Starbucks Corporation (NASDAQ:SBUX)

Golden State Wealth Management LLC increased its holdings in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 95.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,770 shares of the coffee company's stock after acquiring an additional 8,668 shares during the period. Golden State Wealth Management LLC's holdings in Starbucks were worth $1,743,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. University of Texas Texas AM Investment Management Co. bought a new position in shares of Starbucks in the fourth quarter valued at approximately $25,000. Graney & King LLC bought a new stake in Starbucks during the fourth quarter worth $26,000. Runnymede Capital Advisors Inc. purchased a new stake in Starbucks in the 4th quarter valued at $27,000. Noble Wealth Management PBC bought a new position in Starbucks during the 4th quarter valued at $30,000. Finally, Kapitalo Investimentos Ltda purchased a new position in Starbucks during the 4th quarter worth $32,000. Institutional investors own 72.29% of the company's stock.

Starbucks Trading Up 0.8%

Shares of NASDAQ SBUX traded up $0.74 during midday trading on Thursday, hitting $91.84. The company's stock had a trading volume of 6,569,856 shares, compared to its average volume of 10,894,300. The stock has a fifty day moving average price of $86.38 and a 200 day moving average price of $94.44. Starbucks Corporation has a one year low of $71.55 and a one year high of $117.46. The firm has a market capitalization of $104.37 billion, a price-to-earnings ratio of 33.28, a P/E/G ratio of 4.66 and a beta of 1.00.

Starbucks (NASDAQ:SBUX - Get Free Report) last released its quarterly earnings data 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 business had revenue of $8.76 billion during the quarter, compared to the consensus estimate of $8.90 billion. During the same period last year, the business posted $0.68 earnings per share. The firm's quarterly revenue was up 2.3% on a year-over-year basis. On average, equities research analysts predict that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. TD Cowen reiterated a "hold" rating and issued a $90.00 target price on shares of Starbucks in a research note on Thursday, May 29th. Argus raised shares of Starbucks from a "hold" rating to a "buy" rating and set a $115.00 price objective for the company in a research report on Tuesday, March 18th. Baird R W lowered shares of Starbucks from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 7th. Stifel Nicolaus cut their target price on Starbucks from $103.00 to $92.00 and set a "buy" rating on the stock in a research note on Wednesday, April 30th. Finally, Evercore ISI reaffirmed an "outperform" rating and issued a $105.00 target price (up from $95.00) on shares of Starbucks in a report on Tuesday. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $98.76.

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.