IMS Capital Management Purchases Shares of 28,225 Starbucks Corporation $SBUX

IMS Capital Management acquired a new stake in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 28,225 shares of the coffee company's stock, valued at approximately $2,586,000. Starbucks comprises 1.2% of IMS Capital Management's holdings, making the stock its 21st largest position.

A number of other hedge funds have also recently modified their holdings of SBUX. Hughes Financial Services LLC acquired a new stake in Starbucks during the first quarter worth about $27,000. CBIZ Investment Advisory Services LLC grew its stake in shares of Starbucks by 125.2% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company's stock worth $28,000 after purchasing an additional 159 shares during the period. McClarren Financial Advisors Inc. purchased a new position in shares of Starbucks during the 1st quarter valued at approximately $29,000. Nova Wealth Management Inc. lifted its stake in shares of Starbucks by 285.4% in the 1st quarter. Nova Wealth Management Inc. now owns 316 shares of the coffee company's stock valued at $31,000 after purchasing an additional 234 shares during the period. Finally, Activest Wealth Management boosted its holdings in Starbucks by 78.0% during the first quarter. Activest Wealth Management now owns 331 shares of the coffee company's stock worth $32,000 after buying an additional 145 shares in the last quarter. Hedge funds and other institutional investors own 72.29% of the company's stock.

Starbucks Stock Up 0.5%

Shares of NASDAQ:SBUX opened at $85.69 on Wednesday. Starbucks Corporation has a 52-week low of $75.50 and a 52-week high of $117.46. The stock has a market cap of $97.40 billion, a P/E ratio of 36.94, a PEG ratio of 5.10 and a beta of 1.00. The business has a fifty day moving average of $89.04 and a two-hundred day moving average of $89.30.

Starbucks (NASDAQ:SBUX - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The coffee company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.14). Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The firm had revenue of $9.46 billion for the quarter, compared to analyst estimates of $9.29 billion. During the same period in the previous year, the firm posted $0.93 EPS. The company's revenue was up 3.8% compared to the same quarter last year. On average, equities analysts anticipate that Starbucks Corporation will post 2.99 earnings per share for the current year.

Analysts Set New Price Targets

SBUX has been the subject of a number of recent analyst reports. Robert W. Baird raised shares of Starbucks from a "neutral" rating to an "outperform" rating and lifted their price objective for the company from $100.00 to $115.00 in a report on Tuesday, August 12th. Jefferies Financial Group cut Starbucks from a "hold" rating to an "underperform" rating and set a $76.00 target price on the stock. in a research report on Thursday, July 17th. TD Cowen upped their price target on Starbucks from $90.00 to $95.00 and gave the stock a "hold" rating in a report on Wednesday, July 30th. Stifel Nicolaus raised their price objective on Starbucks from $92.00 to $105.00 and gave the company a "buy" rating in a report on Friday, July 11th. Finally, CICC Research assumed coverage on Starbucks in a research report on Monday, June 30th. They issued an "outperform" rating and a $100.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $104.40.

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.

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