Starbucks Corporation (NASDAQ:SBUX) Shares Acquired by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. increased its position in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 44.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 301,291 shares of the coffee company's stock after acquiring 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 quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SBUX. Vanguard Group Inc. grew its holdings in Starbucks by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 111,106,209 shares of the coffee company's stock valued at $10,138,442,000 after buying an additional 784,432 shares in the last quarter. Capital World Investors grew its stake in Starbucks by 20.1% during the fourth quarter. Capital World Investors now owns 54,924,230 shares of the coffee company's stock valued at $5,011,796,000 after acquiring an additional 9,174,682 shares in the last quarter. FMR LLC increased its holdings in Starbucks by 27.0% in the 4th quarter. FMR LLC now owns 25,128,649 shares of the coffee company's stock valued at $2,292,989,000 after acquiring an additional 5,348,790 shares during the last quarter. Geode Capital Management LLC lifted its stake in Starbucks by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 24,826,001 shares of the coffee company's stock worth $2,259,516,000 after purchasing an additional 548,245 shares in the last quarter. Finally, Wellington Management Group LLP grew its position in shares of Starbucks by 4.7% during the fourth quarter. Wellington Management Group LLP now owns 15,868,817 shares of the coffee company's stock valued at $1,448,030,000 after purchasing an additional 718,880 shares in the last quarter. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Trading Down 0.7%

SBUX traded down $0.68 on Tuesday, reaching $91.66. The stock had a trading volume of 5,695,843 shares, compared to its average volume of 10,914,417. The business's 50-day moving average price is $86.02 and its two-hundred day moving average price is $94.48. Starbucks Corporation has a 12-month low of $71.55 and a 12-month high of $117.46. The company has a market cap of $104.16 billion, a P/E ratio of 33.26, a price-to-earnings-growth ratio of 4.74 and a beta of 1.00.

Starbucks (NASDAQ:SBUX - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The coffee company reported $0.41 earnings per share for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $8.90 billion. During the same period in the previous year, the company posted $0.68 EPS. The business's revenue for the quarter was up 2.3% compared to the same quarter last year. As a group, analysts predict that Starbucks Corporation will post 2.99 earnings per share for the current year.

Wall Street Analyst Weigh In

SBUX has been the subject of several analyst reports. Argus raised Starbucks from a "hold" rating to a "buy" rating and set a $115.00 price objective for the company in a research note on Tuesday, March 18th. Barclays reduced their target price on Starbucks from $106.00 to $98.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 30th. TD Securities reissued a "hold" rating and set a $90.00 target price on shares of Starbucks in a research note on Monday. BMO Capital Markets reduced their price target on shares of Starbucks from $115.00 to $100.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. Finally, UBS Group lowered their price objective on shares of Starbucks from $105.00 to $90.00 and set a "neutral" rating for the company in a research report on Monday, April 28th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, Starbucks currently has an average rating of "Hold" and an average target price of $98.36.

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.