Sagespring Wealth Partners LLC Grows Stock Holdings in Starbucks Corporation (NASDAQ:SBUX)

Sagespring Wealth Partners LLC boosted its stake in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 48.2% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 11,821 shares of the coffee company's stock after acquiring an additional 3,845 shares during the quarter. Sagespring Wealth Partners LLC's holdings in Starbucks were worth $1,159,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Capital & Planning LLC boosted its stake in Starbucks by 40.7% during the 4th quarter. Capital & Planning LLC now owns 12,039 shares of the coffee company's stock worth $1,099,000 after purchasing an additional 3,483 shares during the last quarter. Brighton Jones LLC boosted its position in Starbucks by 86.5% during the fourth quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company's stock worth $16,126,000 after acquiring an additional 81,952 shares during the last quarter. Everhart Financial Group Inc. grew its stake in Starbucks by 9.7% during the 4th quarter. Everhart Financial Group Inc. now owns 4,420 shares of the coffee company's stock valued at $403,000 after acquiring an additional 390 shares in the last quarter. Legacy Capital Wealth Partners LLC raised its holdings in Starbucks by 8.9% in the 4th quarter. Legacy Capital Wealth Partners LLC now owns 2,986 shares of the coffee company's stock valued at $273,000 after acquiring an additional 245 shares during the last quarter. Finally, Strategic Financial Concepts LLC purchased a new position in Starbucks in the 4th quarter worth approximately $62,000. Hedge funds and other institutional investors own 72.29% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SBUX. TD Cowen reiterated a "hold" rating and set a $90.00 price objective on shares of Starbucks in a research report on Thursday, May 29th. Argus upgraded Starbucks from a "hold" rating to a "buy" rating and set a $115.00 price target on the stock in a report on Tuesday, March 18th. Wells Fargo & Company dropped their price objective on shares of Starbucks from $125.00 to $100.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. JPMorgan Chase & Co. cut their price objective on shares of Starbucks from $105.00 to $100.00 and set an "overweight" rating for the company in a research report on Wednesday, April 30th. Finally, Baird R W lowered shares of Starbucks from a "strong-buy" rating to a "hold" rating in a report on Monday, April 7th. Three research 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's stock. Based on data from MarketBeat.com, Starbucks currently has an average rating of "Hold" and an average target price of $98.96.

Starbucks Price Performance

Shares of Starbucks stock traded up $0.84 on Friday, reaching $93.12. 9,152,277 shares of the company were exchanged, compared to its average volume of 10,998,836. The stock's 50 day moving average price is $85.73 and its 200-day moving average price is $94.67. The company has a market cap of $105.82 billion, a P/E ratio of 33.74, a price-to-earnings-growth ratio of 4.70 and a beta of 1.00. Starbucks Corporation has a 1-year low of $71.55 and a 1-year high of $117.46.

Starbucks (NASDAQ:SBUX - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The coffee company reported $0.41 EPS 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 quarter in the previous year, the company posted $0.68 EPS. The company's revenue was up 2.3% compared to the same quarter last year. On average, research analysts predict 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.