Klein Pavlis & Peasley Financial Inc. Has $1.04 Million Stock Position in Starbucks Corporation $SBUX

Key Points

• Klein Pavlis & Peasley Financial Inc. reduced its stake in Starbucks Corporation by 69.3%, holding 11,322 shares valued at $1.04 million at the end of the most recent quarter.
• Starbucks reported a miss on earnings per share, achieving $0.50 compared to the analysts' expectation of $0.64, despite generating a revenue of $9.46 billion, exceeding estimates.
• Major investment firms such as Goldman Sachs and Wellington Management have increased their stakes in Starbucks, indicating strong institutional interest in the stock.

Klein Pavlis & Peasley Financial Inc. reduced its holdings in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 69.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,322 shares of the coffee company's stock after selling 25,523 shares during the quarter. Klein Pavlis & Peasley Financial Inc.'s holdings in Starbucks were worth $1,037,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Nuveen LLC acquired a new position in Starbucks during the 1st quarter worth approximately $1,379,619,000. Jennison Associates LLC bought a new stake in shares of Starbucks during the first quarter worth $817,759,000. Polen Capital Management LLC bought a new stake in shares of Starbucks during the first quarter worth $503,539,000. Goldman Sachs Group Inc. increased its holdings in shares of Starbucks by 59.5% during the first quarter. Goldman Sachs Group Inc. now owns 9,623,282 shares of the coffee company's stock worth $943,948,000 after buying an additional 3,589,537 shares in the last quarter. Finally, Wellington Management Group LLP lifted its stake in shares of Starbucks by 22.3% in the 1st quarter. Wellington Management Group LLP now owns 19,414,472 shares of the coffee company's stock valued at $1,904,366,000 after acquiring an additional 3,545,655 shares during the last quarter. Institutional investors own 72.29% of the company's stock.

Starbucks Stock Performance

NASDAQ:SBUX opened at $83.39 on Monday. Starbucks Corporation has a fifty-two week low of $75.50 and a fifty-two week high of $117.46. The company has a 50 day simple moving average of $88.48 and a two-hundred day simple moving average of $88.92. The company has a market capitalization of $94.79 billion, a PE ratio of 35.94, a P/E/G ratio of 5.01 and a beta of 1.00.

Starbucks (NASDAQ:SBUX - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The coffee company reported $0.50 earnings per share (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 firm had revenue of $9.46 billion during the quarter, compared to analyst estimates of $9.29 billion. During the same quarter last year, the firm posted $0.93 EPS. The firm's revenue for the quarter was up 3.8% on a year-over-year basis. Research analysts predict that Starbucks Corporation will post 2.99 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on SBUX shares. Morgan Stanley restated an "overweight" rating and set a $103.00 price objective (up previously from $95.00) on shares of Starbucks in a research report on Wednesday, July 30th. UBS Group boosted their price target on Starbucks from $95.00 to $100.00 and gave the stock a "neutral" rating in a report on Wednesday, July 30th. JPMorgan Chase & Co. raised their price objective on shares of Starbucks from $100.00 to $105.00 and gave the company an "overweight" rating in a report on Wednesday, July 30th. Robert W. Baird upgraded shares of Starbucks from a "neutral" rating to an "outperform" rating and lifted their target price for the stock from $100.00 to $115.00 in a research report on Tuesday, August 12th. Finally, Baird R W upgraded shares of Starbucks from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 12th. One investment 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 assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $104.40.

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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