Starbucks Corporation (NASDAQ:SBUX) Shares Bought by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC boosted its holdings in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 21.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 646,814 shares of the coffee company's stock after purchasing an additional 114,073 shares during the period. Allspring Global Investments Holdings LLC owned about 0.06% of Starbucks worth $63,537,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Arizona State Retirement System lifted its position in Starbucks by 0.8% during the fourth quarter. Arizona State Retirement System now owns 327,459 shares of the coffee company's stock valued at $29,881,000 after purchasing an additional 2,722 shares during the period. West Michigan Advisors LLC acquired a new position in Starbucks during the fourth quarter valued at $265,000. Wernau Asset Management Inc. acquired a new position in shares of Starbucks in the fourth quarter worth about $258,000. Vanguard Capital Wealth Advisors acquired a new position in shares of Starbucks in the fourth quarter worth about $285,000. Finally, OFI Invest Asset Management acquired a new position in shares of Starbucks in the fourth quarter worth about $9,497,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have weighed in on SBUX. Cowen reiterated a "hold" rating on shares of Starbucks in a research report on Tuesday, June 24th. The Goldman Sachs Group reiterated a "neutral" rating and issued a $95.00 price objective (up previously from $85.00) on shares of Starbucks in a research report on Thursday, June 12th. Royal Bank Of Canada upped their price objective on shares of Starbucks from $95.00 to $100.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 11th. Baird R W downgraded shares of Starbucks from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 7th. Finally, Wall Street Zen downgraded shares of Starbucks from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $98.76.

Starbucks Price Performance

SBUX stock opened at $92.11 on Monday. The business has a 50 day simple moving average of $86.80 and a 200-day simple moving average of $94.29. The firm has a market capitalization of $104.67 billion, a PE ratio of 33.37, a price-to-earnings-growth ratio of 4.73 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 posted its quarterly 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). The company had revenue of $8.76 billion during the quarter, compared to analysts' expectations of $8.90 billion. Starbucks had a net margin of 8.61% and a negative return on equity of 42.14%. Starbucks's revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter last year, the company earned $0.68 earnings per share. On average, equities research analysts expect that Starbucks Corporation will post 2.99 EPS for the current 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.

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