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

Oppenheimer Asset Management Inc. grew its position in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 44.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 301,291 shares of the coffee company's stock after purchasing an additional 93,161 shares during the quarter. Oppenheimer Asset Management Inc.'s holdings in Starbucks were worth $29,554,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. TrinityPoint Wealth LLC raised its holdings in Starbucks by 2.7% in the fourth quarter. TrinityPoint Wealth LLC now owns 3,421 shares of the coffee company's stock worth $312,000 after buying an additional 89 shares during the last quarter. Pioneer Trust Bank N A OR increased its position in shares of Starbucks by 0.8% during the fourth quarter. Pioneer Trust Bank N A OR now owns 11,312 shares of the coffee company's stock valued at $1,032,000 after acquiring an additional 92 shares in the last quarter. Wintrust Investments LLC raised its holdings in Starbucks by 7.1% in the 4th quarter. Wintrust Investments LLC now owns 1,411 shares of the coffee company's stock worth $128,000 after acquiring an additional 94 shares during the last quarter. Gamco Investors INC. ET AL boosted its stake in Starbucks by 3.5% during the 4th quarter. Gamco Investors INC. ET AL now owns 2,860 shares of the coffee company's stock valued at $261,000 after purchasing an additional 97 shares during the last quarter. Finally, Foster Dykema Cabot & Partners LLC increased its holdings in shares of Starbucks by 10.6% in the 4th quarter. Foster Dykema Cabot & Partners LLC now owns 1,014 shares of the coffee company's stock worth $93,000 after purchasing an additional 97 shares in the last quarter. Institutional investors own 72.29% of the company's stock.

Starbucks Stock Up 0.8%

NASDAQ SBUX traded up $0.74 during trading on Thursday, hitting $91.84. 6,569,856 shares of the stock traded hands, compared to its average volume of 10,895,049. Starbucks Corporation has a 12-month low of $71.55 and a 12-month high of $117.46. The firm has a 50-day simple moving average of $86.59 and a 200-day simple moving average of $94.39. The company has a market capitalization of $104.37 billion, a P/E ratio of 33.28, a price-to-earnings-growth ratio of 4.65 and a beta of 1.00.

Starbucks (NASDAQ:SBUX - Get Free Report) last posted its 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 net margin of 8.61% and a negative return on equity of 42.14%. The business had revenue of $8.76 billion during the quarter, compared to analysts' expectations of $8.90 billion. During the same period last year, the business posted $0.68 earnings per share. The company's revenue for the quarter was up 2.3% compared to the same quarter last year. As a group, research analysts predict that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on SBUX shares. TD Securities reaffirmed a "hold" rating and set a $90.00 price target on shares of Starbucks in a report on Monday. Wells Fargo & Company lowered their target price on Starbucks from $125.00 to $100.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Baird R W cut Starbucks from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 7th. Royal Bank Of Canada lifted their price objective on Starbucks from $95.00 to $100.00 and gave the company an "outperform" rating in a research report on Wednesday, June 11th. Finally, Robert W. Baird reiterated a "neutral" rating and set a $85.00 price objective (down from $114.00) on shares of Starbucks in a research note on Monday, April 7th. 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 MarketBeat.com, Starbucks presently has an average rating of "Hold" and a consensus target price of $98.76.

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.