Grove Bank & Trust lifted its stake in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 866.4% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 15,365 shares of the coffee company's stock after buying an additional 13,775 shares during the quarter. Grove Bank & Trust's holdings in Starbucks were worth $1,507,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Capital & Planning LLC lifted its holdings in Starbucks by 40.7% during the 4th quarter. Capital & Planning LLC now owns 12,039 shares of the coffee company's stock worth $1,099,000 after purchasing an additional 3,483 shares during the last quarter. Brighton Jones LLC lifted its holdings in shares of Starbucks by 86.5% during the fourth quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company's stock worth $16,126,000 after buying an additional 81,952 shares in the last quarter. Everhart Financial Group Inc. boosted its position in shares of Starbucks by 9.7% in the fourth quarter. Everhart Financial Group Inc. now owns 4,420 shares of the coffee company's stock valued at $403,000 after acquiring an additional 390 shares during the period. Legacy Capital Wealth Partners LLC grew its stake in shares of Starbucks by 8.9% in the fourth quarter. Legacy Capital Wealth Partners LLC now owns 2,986 shares of the coffee company's stock valued at $273,000 after acquiring an additional 245 shares in the last quarter. Finally, Strategic Financial Concepts LLC bought a new position in Starbucks during the fourth quarter worth about $62,000. Institutional investors own 72.29% of the company's stock.
Wall Street Analyst Weigh In
A number of research firms have issued reports on SBUX. Citigroup boosted their price objective on shares of Starbucks from $84.00 to $95.00 and gave the company a "neutral" rating in a report on Thursday, June 12th. Royal Bank of Canada increased their price target on Starbucks from $95.00 to $100.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 11th. BMO Capital Markets reduced their price target on Starbucks from $115.00 to $100.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. Cowen downgraded Starbucks from a "buy" rating to a "hold" rating in a research report on Thursday, May 29th. Finally, UBS Group reduced their price target on Starbucks from $105.00 to $90.00 and set a "neutral" rating on the stock in a research report on Monday, April 28th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $98.96.
Get Our Latest Analysis on SBUX
Starbucks Stock Performance
Shares of SBUX opened at $93.48 on Tuesday. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $117.46. The stock has a market capitalization of $106.23 billion, a price-to-earnings ratio of 30.15, a PEG ratio of 3.59 and a beta of 1.00. The stock has a fifty day moving average of $85.44 and a 200-day moving average of $94.77.
Starbucks (NASDAQ:SBUX - Get Free Report) last announced its earnings results on Tuesday, April 29th. The coffee company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.10). The company had revenue of $8.76 billion for the quarter, compared to the consensus estimate of $8.90 billion. Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. The firm's revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.68 earnings per share. As a group, equities analysts forecast that Starbucks Co. will post 2.99 EPS for the current year.
Starbucks Profile
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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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