Starbucks Corporation (NASDAQ:SBUX) Holdings Increased by Kingswood Wealth Advisors LLC

Kingswood Wealth Advisors LLC grew its stake in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 155.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 37,953 shares of the coffee company's stock after buying an additional 23,098 shares during the quarter. Kingswood Wealth Advisors LLC's holdings in Starbucks were worth $3,726,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Starbucks in the 4th quarter worth approximately $25,000. Graney & King LLC bought a new stake in shares of Starbucks in the 4th quarter worth approximately $26,000. Runnymede Capital Advisors Inc. bought a new stake in shares of Starbucks in the 4th quarter worth approximately $27,000. Marshall Investment Management LLC bought a new stake in shares of Starbucks in the 4th quarter worth approximately $30,000. Finally, Noble Wealth Management PBC bought a new stake in shares of Starbucks in the 4th quarter worth approximately $30,000. 72.29% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on SBUX shares. Wells Fargo & Company dropped their target price on shares of Starbucks from $125.00 to $100.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Robert W. Baird reissued a "neutral" rating and issued a $85.00 target price (down from $114.00) on shares of Starbucks in a research report on Monday, April 7th. Jefferies Financial Group raised shares of Starbucks from an "underperform" rating to a "hold" rating and set a $76.00 target price on the stock in a research report on Wednesday, April 9th. UBS Group lowered their price objective on shares of Starbucks from $105.00 to $90.00 and set a "neutral" rating on the stock in a research report on Monday, April 28th. Finally, TD Securities reaffirmed a "hold" rating and set a $90.00 price objective on shares of Starbucks in a research report on Wednesday, June 11th. Three investment 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. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $98.96.

Starbucks Stock Performance

SBUX opened at $91.59 on Wednesday. Starbucks Corporation has a twelve month low of $71.55 and a twelve month high of $117.46. The firm's 50-day simple moving average is $85.50 and its 200-day simple moving average is $94.75. The firm has a market cap of $104.08 billion, a price-to-earnings ratio of 33.18, a PEG ratio of 4.69 and a beta of 1.00.

Starbucks (NASDAQ:SBUX - Get Free Report) last released its earnings results on Tuesday, April 29th. The coffee company reported $0.41 earnings per share (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 for the quarter, compared to analyst estimates of $8.90 billion. During the same quarter in the previous year, the company posted $0.68 earnings per share. The business's revenue for the quarter was up 2.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Starbucks Corporation will post 2.99 EPS 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.

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