Simplicity Wealth LLC Has $1.13 Million Position in Starbucks Co. (NASDAQ:SBUX)

Simplicity Wealth LLC lifted its holdings in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 383.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,489 shares of the coffee company's stock after purchasing an additional 9,114 shares during the period. Simplicity Wealth LLC's holdings in Starbucks were worth $1,127,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in SBUX. University of Texas Texas AM Investment Management Co. purchased a new stake in Starbucks during the fourth quarter worth about $25,000. Graney & King LLC purchased a new position in Starbucks in the fourth quarter valued at approximately $26,000. Collier Financial bought a new position in Starbucks during the fourth quarter valued at $27,000. Runnymede Capital Advisors Inc. purchased a new stake in Starbucks in the fourth quarter worth $27,000. Finally, Marshall Investment Management LLC bought a new stake in shares of Starbucks in the fourth quarter valued at $30,000. Institutional investors own 72.29% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on SBUX. Citigroup cut their price target on Starbucks from $88.00 to $84.00 and set a "neutral" rating for the company in a research note on Wednesday, April 30th. TD Cowen reissued a "hold" rating and set a $90.00 target price on shares of Starbucks in a report on Thursday, May 29th. Baird R W downgraded shares of Starbucks from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 7th. Argus raised shares of 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. Finally, Royal Bank of Canada lifted their target price on shares of Starbucks from $95.00 to $100.00 and gave the stock an "outperform" rating in a research report on Wednesday. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and fourteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $98.12.

Starbucks Stock Down 1.2%

NASDAQ:SBUX traded down $1.15 during trading hours on Thursday, reaching $94.24. The company had a trading volume of 2,991,006 shares, compared to its average volume of 11,038,225. The firm has a market capitalization of $107.09 billion, a PE ratio of 30.40, a PEG ratio of 3.59 and a beta of 1.00. The stock has a 50-day moving average of $84.61 and a two-hundred day moving average of $95.03. Starbucks Co. has a one year low of $71.55 and a one year high of $117.46.

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 firm had revenue of $8.76 billion during the quarter, compared to the consensus estimate of $8.90 billion. Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. Starbucks's revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.68 EPS. As a group, sell-side analysts expect that Starbucks Co. will post 2.99 earnings per share for the current year.

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.