Starbucks Corporation (NASDAQ:SBUX) Shares Bought by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 5.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 142,210 shares of the coffee company's stock after buying an additional 7,620 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Starbucks were worth $13,949,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. University of Texas Texas AM Investment Management Co. purchased a new position in Starbucks during the 4th quarter worth $25,000. Graney & King LLC purchased a new position in Starbucks during the 4th quarter worth $26,000. Runnymede Capital Advisors Inc. purchased a new position in Starbucks during the 4th quarter worth $27,000. Kapitalo Investimentos Ltda purchased a new position in Starbucks during the 4th quarter worth $32,000. Finally, Ball & Co Wealth Management Inc. purchased a new position in Starbucks during the 4th quarter worth $41,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Starbucks Stock Performance

SBUX stock traded up $0.26 on Thursday, hitting $94.44. 3,557,273 shares of the company's stock were exchanged, compared to its average volume of 10,930,626. Starbucks Corporation has a 12-month low of $71.55 and a 12-month high of $117.46. The firm has a 50 day moving average price of $87.51 and a two-hundred day moving average price of $94.26. The stock has a market cap of $107.32 billion, a P/E ratio of 34.22, a price-to-earnings-growth ratio of 4.82 and a beta of 1.02.

Starbucks (NASDAQ:SBUX - Get Free Report) last announced its earnings results on Tuesday, April 29th. The coffee company reported $0.41 earnings per share for the quarter, missing the consensus estimate 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 analysts' expectations of $8.90 billion. During the same quarter last year, the firm earned $0.68 earnings per share. The firm's quarterly revenue was up 2.3% compared to the same quarter last year. Sell-side analysts expect that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have commented on SBUX shares. Guggenheim reduced 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. TD Cowen restated a "hold" rating and set a $90.00 price objective on shares of Starbucks in a report on Thursday, May 29th. Sanford C. Bernstein raised their price objective on Starbucks from $90.00 to $100.00 and gave the stock an "outperform" rating in a report on Wednesday. Cowen reiterated a "hold" rating on shares of Starbucks in a report on Tuesday, June 24th. Finally, CICC Research assumed coverage on Starbucks in a report on Monday. They issued an "outperform" rating and a $100.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $98.23.

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.