Starbucks Corporation (NASDAQ:SBUX) Stake Boosted by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. raised its position in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 25.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 529,657 shares of the coffee company's stock after purchasing an additional 108,551 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Starbucks were worth $51,783,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Brighton Jones LLC increased 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 valued at $16,126,000 after purchasing an additional 81,952 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in shares of Starbucks during the fourth quarter valued at $389,000. Advisor OS LLC increased its holdings in shares of Starbucks by 3.2% during the fourth quarter. Advisor OS LLC now owns 4,548 shares of the coffee company's stock valued at $415,000 after purchasing an additional 139 shares during the period. Kovack Advisors Inc. increased its stake in Starbucks by 3.3% during the 4th quarter. Kovack Advisors Inc. now owns 10,201 shares of the coffee company's stock valued at $931,000 after buying an additional 328 shares during the period. Finally, Proficio Capital Partners LLC increased its stake in Starbucks by 3,455.4% during the 4th quarter. Proficio Capital Partners LLC now owns 246,497 shares of the coffee company's stock valued at $22,493,000 after buying an additional 239,564 shares during the period. Institutional investors and hedge funds own 72.29% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have commented on SBUX. UBS Group lowered their target price on shares of Starbucks from $105.00 to $90.00 and set a "neutral" rating on the stock in a research note on Monday, April 28th. TD Securities reiterated a "hold" rating and set a $90.00 price objective on shares of Starbucks in a research note on Monday, June 23rd. Citigroup raised their price objective on shares of Starbucks from $84.00 to $95.00 and gave the company a "neutral" rating in a research note on Thursday, June 12th. Cowen reiterated a "hold" rating on shares of Starbucks in a research report on Tuesday. Finally, Argus upgraded Starbucks from a "hold" rating to a "buy" rating and set a $115.00 price target on the stock in a research report on Tuesday, March 18th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $98.76.

Starbucks Stock Performance

Shares of SBUX stock traded up $0.27 on Friday, reaching $92.11. 21,489,693 shares of the company's stock traded hands, compared to its average volume of 10,939,858. Starbucks Corporation has a 12-month low of $71.55 and a 12-month high of $117.46. The company has a market capitalization of $104.67 billion, a P/E ratio of 33.37, a price-to-earnings-growth ratio of 4.70 and a beta of 1.00. The business's 50 day moving average price is $86.80 and its two-hundred day moving average price is $94.35.

Starbucks (NASDAQ:SBUX - Get Free Report) last released its earnings results on Tuesday, April 29th. The coffee company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.10). Starbucks had a net margin of 8.61% and a negative return on equity of 42.14%. The business had revenue of $8.76 billion for the quarter, compared to analysts' expectations of $8.90 billion. During the same period last year, the firm earned $0.68 EPS. The company's revenue was up 2.3% compared to the same quarter last year. Research analysts predict that Starbucks Corporation will post 2.99 earnings per share for the current 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.