Ritholtz Wealth Management Purchases 4,898 Shares of Starbucks Corporation (NASDAQ:SBUX)

Ritholtz Wealth Management lifted its holdings in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 39.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,452 shares of the coffee company's stock after buying an additional 4,898 shares during the period. Ritholtz Wealth Management's holdings in Starbucks were worth $1,712,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Dynamic Advisor Solutions LLC acquired a new position in shares of Starbucks during the 1st quarter worth $819,000. Missouri Trust & Investment Co boosted its holdings in shares of Starbucks by 49.7% during the 1st quarter. Missouri Trust & Investment Co now owns 524 shares of the coffee company's stock worth $51,000 after buying an additional 174 shares during the period. Opal Wealth Advisors LLC acquired a new stake in shares of Starbucks in the first quarter valued at about $208,000. Hennessy Advisors Inc. boosted its position in shares of Starbucks by 8.3% in the first quarter. Hennessy Advisors Inc. now owns 57,500 shares of the coffee company's stock valued at $5,640,000 after acquiring an additional 4,400 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in shares of Starbucks by 5.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 472,776 shares of the coffee company's stock worth $46,375,000 after purchasing an additional 25,809 shares during the period. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SBUX. TD Securities reiterated a "hold" rating and issued a $90.00 price objective on shares of Starbucks in a research report on Wednesday, June 11th. Jefferies Financial Group raised shares of Starbucks from an "underperform" rating to a "hold" rating and set a $76.00 price objective for the company in a report on Wednesday, April 9th. Guggenheim decreased their price objective on Starbucks from $95.00 to $83.00 and set a "neutral" rating on the stock in a report on Tuesday, April 29th. Wall Street Zen lowered Starbucks from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Finally, UBS Group cut their target price on Starbucks from $105.00 to $90.00 and set a "neutral" rating for the company in a research report on Monday, April 28th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, Starbucks currently has a consensus rating of "Hold" and a consensus target price of $98.96.

Starbucks Price Performance

Shares of SBUX stock traded up $0.43 on Wednesday, reaching $92.02. 809,255 shares of the stock were exchanged, compared to its average volume of 10,661,126. Starbucks Corporation has a one year low of $71.55 and a one year high of $117.46. The stock has a market cap of $104.57 billion, a PE ratio of 33.34, a P/E/G ratio of 4.69 and a beta of 1.00. The stock has a 50 day moving average price of $85.50 and a 200 day moving average price of $94.75.

Starbucks (NASDAQ:SBUX - Get Free Report) last released its earnings results 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 negative return on equity of 42.14% and a net margin of 8.61%. The business had revenue of $8.76 billion for the quarter, compared to analyst estimates of $8.90 billion. During the same period in the prior year, the firm posted $0.68 EPS. Starbucks's revenue was up 2.3% on a year-over-year basis. On average, research analysts expect that Starbucks Corporation will post 2.99 earnings per share for the current fiscal 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.