Pure Financial Advisors LLC Raises Stake in Starbucks Corporation (NASDAQ:SBUX)

Pure Financial Advisors LLC raised its holdings in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 156.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,312 shares of the coffee company's stock after acquiring an additional 6,298 shares during the period. Pure Financial Advisors LLC's holdings in Starbucks were worth $1,011,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Phillips Wealth Planners LLC boosted its position in Starbucks by 18.6% during the first quarter. Phillips Wealth Planners LLC now owns 6,114 shares of the coffee company's stock valued at $600,000 after buying an additional 958 shares during the period. Omnia Family Wealth LLC lifted its stake in shares of Starbucks by 23.2% in the 1st quarter. Omnia Family Wealth LLC now owns 2,851 shares of the coffee company's stock valued at $280,000 after acquiring an additional 537 shares during the last quarter. New World Advisors LLC purchased a new stake in Starbucks during the 1st quarter valued at about $257,000. Alpine Bank Wealth Management purchased a new stake in Starbucks during the 1st quarter valued at about $1,831,000. Finally, Golden State Wealth Management LLC grew its position in Starbucks by 95.2% during the 1st quarter. Golden State Wealth Management LLC now owns 17,770 shares of the coffee company's stock worth $1,743,000 after acquiring an additional 8,668 shares during the last quarter. 72.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SBUX has been the subject of several recent research reports. Jefferies Financial Group upgraded Starbucks from an "underperform" rating to a "hold" rating and set a $76.00 price objective for the company in a research report on Wednesday, April 9th. The Goldman Sachs Group reiterated a "neutral" rating and set a $95.00 price target (up from $85.00) on shares of Starbucks in a report on Thursday, June 12th. Robert W. Baird reissued a "neutral" rating and issued a $85.00 price target (down previously from $114.00) on shares of Starbucks in a report on Monday, April 7th. Wells Fargo & Company lowered their price objective on shares of Starbucks from $125.00 to $100.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Finally, Citigroup raised their target price on Starbucks from $84.00 to $95.00 and gave the stock a "neutral" rating in a research note on Thursday, June 12th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $98.76.

Starbucks Price Performance

NASDAQ:SBUX opened at $91.84 on Friday. The company's 50-day simple moving average is $86.59 and its 200 day simple moving average is $94.39. Starbucks Corporation has a one year low of $71.55 and a one year high of $117.46. The firm has a market capitalization of $104.37 billion, a P/E ratio of 33.28, a PEG ratio of 4.65 and a beta of 1.00.

Starbucks (NASDAQ:SBUX - Get Free Report) last posted its quarterly earnings results 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). The company had revenue of $8.76 billion during the quarter, compared to analysts' expectations of $8.90 billion. Starbucks had a negative return on equity of 42.14% and a net margin of 8.61%. Starbucks's revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.68 EPS. On average, equities research analysts expect 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.

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