PFG Investments LLC Has $3.04 Million Stock Holdings in Starbucks Corporation $SBUX

Key Points

• PFG Investments LLC increased its stake in Starbucks Corporation by 84.4% during Q2, bringing its total holdings to $3.04 million with 33,139 shares.
• Starbucks reported a EPS of $0.50 for the last quarter, which was below analyst expectations of $0.64, although revenue was up 3.8% year-over-year at $9.46 billion.
• Several analysts upgraded Starbucks' stock ratings, with price targets reaching up to $115, suggesting a positive outlook for the company's future performance.

PFG Investments LLC lifted its holdings in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 84.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 33,139 shares of the coffee company's stock after buying an additional 15,170 shares during the period. PFG Investments LLC's holdings in Starbucks were worth $3,037,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in Starbucks by 0.9% during the first quarter. Vanguard Group Inc. now owns 112,059,570 shares of the coffee company's stock valued at $10,991,923,000 after purchasing an additional 953,361 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Starbucks by 22.3% in the first quarter. Wellington Management Group LLP now owns 19,414,472 shares of the coffee company's stock valued at $1,904,366,000 after buying an additional 3,545,655 shares in the last quarter. Nuveen LLC bought a new position in shares of Starbucks in the first quarter valued at $1,379,619,000. Goldman Sachs Group Inc. grew its stake in shares of Starbucks by 59.5% in the first quarter. Goldman Sachs Group Inc. now owns 9,623,282 shares of the coffee company's stock valued at $943,948,000 after buying an additional 3,589,537 shares in the last quarter. Finally, Jennison Associates LLC bought a new position in shares of Starbucks in the first quarter valued at $817,759,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Stock Down 1.2%

Shares of SBUX stock opened at $84.60 on Wednesday. The firm has a 50 day moving average price of $88.09 and a two-hundred day moving average price of $88.80. The company has a market capitalization of $96.16 billion, a PE ratio of 36.47, a price-to-earnings-growth ratio of 5.15 and a beta of 1.00. Starbucks Corporation has a 12-month low of $75.50 and a 12-month high of $117.46.

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

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Robert W. Baird upgraded shares of Starbucks from a "neutral" rating to an "outperform" rating and increased their price target for the company from $100.00 to $115.00 in a research note on Tuesday, August 12th. Royal Bank Of Canada raised their target price on shares of Starbucks from $100.00 to $110.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. Morgan Stanley reiterated an "overweight" rating and issued a $103.00 target price (up from $95.00) on shares of Starbucks in a research note on Wednesday, July 30th. Piper Sandler set a $105.00 target price on shares of Starbucks and gave the company an "overweight" rating in a research note on Wednesday, July 30th. Finally, Evercore ISI reaffirmed an "outperform" rating and issued a $105.00 price objective (up from $95.00) on shares of Starbucks in a research report on Tuesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $104.00.

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.

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