Praxis Investment Management Inc. Has $2.57 Million Position in Starbucks Corporation (NASDAQ:SBUX)

Praxis Investment Management Inc. raised its stake in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 15.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 26,202 shares of the coffee company's stock after purchasing an additional 3,410 shares during the period. Praxis Investment Management Inc.'s holdings in Starbucks were worth $2,570,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. GAM Holding AG bought a new stake in shares of Starbucks in the first quarter valued at about $1,796,000. Perfromance Wealth Partners LLC grew its stake in shares of Starbucks by 3.6% in the first quarter. Perfromance Wealth Partners LLC now owns 4,507 shares of the coffee company's stock valued at $442,000 after acquiring an additional 156 shares in the last quarter. Castleview Partners LLC grew its stake in shares of Starbucks by 1,258.9% in the first quarter. Castleview Partners LLC now owns 2,052 shares of the coffee company's stock valued at $201,000 after acquiring an additional 1,901 shares in the last quarter. Covea Finance grew its stake in shares of Starbucks by 25.3% in the first quarter. Covea Finance now owns 118,994 shares of the coffee company's stock valued at $11,672,000 after acquiring an additional 23,995 shares in the last quarter. Finally, Davies Financial Advisors Inc. grew its stake in shares of Starbucks by 7.4% in the first quarter. Davies Financial Advisors Inc. now owns 7,287 shares of the coffee company's stock valued at $715,000 after acquiring an additional 503 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Barclays decreased their price target on shares of Starbucks from $106.00 to $98.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 30th. Baird R W downgraded shares of Starbucks from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 7th. TD Securities restated a "hold" rating and issued a $90.00 price target on shares of Starbucks in a research note on Wednesday, June 11th. Robert W. Baird reaffirmed a "neutral" rating and set a $85.00 price objective (down previously from $114.00) on shares of Starbucks in a research report on Monday, April 7th. Finally, Cowen cut shares of Starbucks from a "buy" rating to a "hold" rating in a research report on Thursday, May 29th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $98.96.

Starbucks Price Performance

Starbucks stock opened at $93.12 on Friday. The business has a 50 day moving average of $85.88 and a 200-day moving average of $94.61. Starbucks Corporation has a 1 year low of $71.55 and a 1 year high of $117.46. The company has a market capitalization of $105.82 billion, a P/E ratio of 33.74, a P/E/G ratio of 4.70 and a beta of 1.00.

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.