Insigneo Advisory Services LLC Acquires 3,917 Shares of Starbucks Corporation (NASDAQ:SBUX)

Insigneo Advisory Services LLC lifted its stake in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 47.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,210 shares of the coffee company's stock after purchasing an additional 3,917 shares during the quarter. Insigneo Advisory Services LLC's holdings in Starbucks were worth $1,198,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Starbucks during the fourth quarter valued at approximately $25,000. Graney & King LLC purchased a new position in Starbucks in the 4th quarter worth approximately $26,000. Runnymede Capital Advisors Inc. bought a new position in Starbucks in the 4th quarter valued at approximately $27,000. Marshall Investment Management LLC bought a new position in Starbucks in the 4th quarter valued at approximately $30,000. Finally, Noble Wealth Management PBC purchased a new stake in Starbucks during the 4th quarter valued at $30,000. 72.29% of the stock is owned by institutional investors.

Analyst Ratings Changes

SBUX has been the subject of several recent analyst reports. TD Securities restated a "hold" rating and issued a $90.00 price target on shares of Starbucks in a research note on Wednesday, June 11th. The Goldman Sachs Group reiterated a "neutral" rating and issued a $95.00 price objective (up from $85.00) on shares of Starbucks in a report on Thursday, June 12th. Wall Street Zen cut shares of Starbucks from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Jefferies Financial Group raised shares of Starbucks from an "underperform" rating to a "hold" rating and set a $76.00 price target on the stock in a report on Wednesday, April 9th. Finally, Stifel Nicolaus reduced their price target on shares of Starbucks from $103.00 to $92.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. Three investment 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. Based on data from MarketBeat, Starbucks presently has a consensus rating of "Hold" and an average target price of $98.96.

Starbucks Stock Down 2.0%

NASDAQ:SBUX opened at $91.59 on Wednesday. The business's 50-day simple moving average is $85.50 and its two-hundred day simple moving average is $94.75. Starbucks Corporation has a 52 week low of $71.55 and a 52 week high of $117.46. The stock has a market cap of $104.08 billion, a PE ratio of 33.18, a P/E/G ratio of 4.69 and a beta of 1.00.

Starbucks (NASDAQ:SBUX - Get Free Report) last released 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). 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 for the quarter, compared to analysts' expectations of $8.90 billion. During the same quarter in the prior year, the business posted $0.68 EPS. The business's revenue for the quarter was up 2.3% compared to the same quarter last year. Sell-side analysts anticipate that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.