Norden Group LLC Acquires 9,051 Shares of Starbucks Corporation $SBUX

Key Points

• Norden Group LLC increased its stake in Starbucks Corporation by 30.0% by purchasing an additional 9,051 shares, bringing its total holdings to 39,270 shares valued at approximately $3.6 million.
• Starbucks reported $0.50 earnings per share in its last quarterly earnings, missing estimates by $0.14, though it achieved a revenue of $9.46 billion, exceeding expectations.
• Several analysts raised their price targets for Starbucks shares, with targets ranging from $100.00 to $115.00, and the consensus rating is a "Moderate Buy" with an average target price of $104.40.

Norden Group LLC raised its holdings in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 30.0% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 39,270 shares of the coffee company's stock after purchasing an additional 9,051 shares during the period. Norden Group LLC's holdings in Starbucks were worth $3,598,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Napa Wealth Management bought a new stake in Starbucks in the 1st quarter valued at about $1,435,000. Czech National Bank boosted its holdings in Starbucks by 6.2% in the 1st quarter. Czech National Bank now owns 260,898 shares of the coffee company's stock valued at $25,591,000 after purchasing an additional 15,132 shares during the period. Personal CFO Solutions LLC boosted its holdings in Starbucks by 125.5% in the 1st quarter. Personal CFO Solutions LLC now owns 9,254 shares of the coffee company's stock valued at $908,000 after purchasing an additional 5,151 shares during the period. First Manhattan CO. LLC. boosted its holdings in Starbucks by 33.1% in the 1st quarter. First Manhattan CO. LLC. now owns 446,294 shares of the coffee company's stock valued at $43,777,000 after purchasing an additional 111,015 shares during the period. Finally, Fox Run Management L.L.C. bought a new stake in Starbucks in the 1st quarter valued at about $998,000. Institutional investors own 72.29% of the company's stock.

Starbucks Price Performance

SBUX opened at $85.69 on Wednesday. The company's 50 day moving average price is $89.04 and its two-hundred day moving average price is $89.30. Starbucks Corporation has a fifty-two week low of $75.50 and a fifty-two week high of $117.46. The firm has a market capitalization of $97.40 billion, a price-to-earnings ratio of 36.94, a PEG ratio of 5.10 and a beta of 1.00.

Starbucks (NASDAQ:SBUX - Get Free Report) last posted its quarterly earnings data 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 negative return on equity of 36.23% and a net margin of 7.18%.The firm had revenue of $9.46 billion for the quarter, compared to analyst estimates of $9.29 billion. During the same quarter last year, the company earned $0.93 earnings per share. The company's quarterly revenue was up 3.8% compared to the same quarter last year. As a group, equities research analysts predict that Starbucks Corporation will post 2.99 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently commented on SBUX shares. BMO Capital Markets restated an "outperform" rating and issued a $115.00 target price (up from $100.00) on shares of Starbucks in a research report on Wednesday, July 30th. Morgan Stanley restated an "overweight" rating and issued a $103.00 target price (up from $95.00) on shares of Starbucks in a research report on Wednesday, July 30th. UBS Group boosted their target price on shares of Starbucks from $95.00 to $100.00 and gave the company a "neutral" rating in a research report on Wednesday, July 30th. Baird R W upgraded shares of Starbucks from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 12th. Finally, Evercore ISI restated an "outperform" rating and issued a $105.00 target price (up from $95.00) on shares of Starbucks in a research report on Tuesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price 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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