Oppenheimer Asset Management Inc. Acquires 93,161 Shares of Starbucks Corporation (NASDAQ:SBUX)

Oppenheimer Asset Management Inc. boosted its holdings in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 44.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 301,291 shares of the coffee company's stock after buying an additional 93,161 shares during the quarter. Oppenheimer Asset Management Inc.'s holdings in Starbucks were worth $29,554,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. JFS Wealth Advisors LLC raised its stake in Starbucks by 13.6% in the 1st quarter. JFS Wealth Advisors LLC now owns 3,868 shares of the coffee company's stock valued at $379,000 after acquiring an additional 462 shares during the period. Amarillo National Bank acquired a new position in shares of Starbucks in the first quarter valued at $211,000. Aspire Capital Advisors LLC raised its position in shares of Starbucks by 3.5% in the first quarter. Aspire Capital Advisors LLC now owns 24,013 shares of the coffee company's stock valued at $2,355,000 after purchasing an additional 803 shares during the period. Ellis Investment Partners LLC acquired a new stake in shares of Starbucks during the 1st quarter worth about $202,000. Finally, Kentucky Retirement Systems Insurance Trust Fund boosted its holdings in shares of Starbucks by 23.5% during the 1st quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 32,961 shares of the coffee company's stock worth $3,233,000 after buying an additional 6,274 shares during the period. Institutional investors own 72.29% of the company's stock.

Analysts Set New Price Targets

SBUX has been the topic of a number of recent research reports. TD Cowen reiterated a "hold" rating and set a $90.00 target price on shares of Starbucks in a research note on Thursday, May 29th. Citigroup boosted their target price on shares of Starbucks from $84.00 to $95.00 and gave the company a "neutral" rating in a research report on Thursday, June 12th. Robert W. Baird reaffirmed a "neutral" rating and set a $85.00 price target (down from $114.00) on shares of Starbucks in a research report on Monday, April 7th. Guggenheim cut their price objective on shares of Starbucks from $95.00 to $83.00 and set a "neutral" rating for the company in a report on Tuesday, April 29th. Finally, Royal Bank Of Canada raised their target price on shares of Starbucks from $95.00 to $100.00 and gave the stock an "outperform" rating in a report on Wednesday, June 11th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $98.96.

Starbucks Stock Performance

Shares of SBUX traded down $0.78 during mid-day trading on Monday, reaching $92.34. The company had a trading volume of 7,502,503 shares, compared to its average volume of 10,932,416. The company has a market capitalization of $104.94 billion, a price-to-earnings ratio of 33.46, a P/E/G ratio of 4.74 and a beta of 1.00. The company's 50 day simple moving average is $85.88 and its 200 day simple moving average is $94.54. Starbucks Corporation has a 1-year low of $71.55 and a 1-year high of $117.46.

Starbucks (NASDAQ:SBUX - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The coffee company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.10). The company had revenue of $8.76 billion during the quarter, compared to the consensus estimate of $8.90 billion. Starbucks had a net margin of 8.61% and a negative return on equity of 42.14%. Starbucks's revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.68 EPS. As a group, equities analysts forecast that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

About Starbucks

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.