CWA Asset Management Group LLC lifted its position in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 93.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,378 shares of the coffee company's stock after buying an additional 7,449 shares during the period. CWA Asset Management Group LLC's holdings in Starbucks were worth $1,508,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Summa Corp. grew its position in Starbucks by 5.0% in the first quarter. Summa Corp. now owns 4,200 shares of the coffee company's stock worth $412,000 after acquiring an additional 200 shares during the period. Kingswood Wealth Advisors LLC lifted its stake in shares of Starbucks by 155.5% in the 1st quarter. Kingswood Wealth Advisors LLC now owns 37,953 shares of the coffee company's stock valued at $3,726,000 after purchasing an additional 23,098 shares during the last quarter. Bender Robert & Associates grew its holdings in shares of Starbucks by 2.7% during the 1st quarter. Bender Robert & Associates now owns 45,583 shares of the coffee company's stock worth $4,471,000 after purchasing an additional 1,177 shares during the period. Shepherd Financial Partners LLC increased its position in shares of Starbucks by 1.7% during the 1st quarter. Shepherd Financial Partners LLC now owns 23,906 shares of the coffee company's stock worth $2,345,000 after purchasing an additional 393 shares during the last quarter. Finally, Cushing Capital Partners LLC purchased a new stake in Starbucks in the 1st quarter valued at about $607,000. Institutional investors and hedge funds own 72.29% of the company's stock.
Wall Street Analyst Weigh In
Several research analysts have weighed in on the stock. Jefferies Financial Group raised shares of Starbucks from an "underperform" rating to a "hold" rating and set a $76.00 target price for the company in a research note on Wednesday, April 9th. 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. Citigroup boosted their target price on Starbucks from $84.00 to $95.00 and gave the company a "neutral" rating in a research report on Thursday, June 12th. Cowen lowered Starbucks from a "buy" rating to a "hold" rating in a research report on Thursday, May 29th. Finally, Barclays cut their price objective on Starbucks from $106.00 to $98.00 and set an "overweight" rating on the stock in a report on Wednesday, April 30th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $98.96.
Get Our Latest Stock Report on Starbucks
Starbucks Stock Up 0.8%
Shares of Starbucks stock opened at $92.28 on Friday. Starbucks Corporation has a 52-week low of $71.55 and a 52-week high of $117.46. The company has a market capitalization of $104.87 billion, a P/E ratio of 33.43, a P/E/G ratio of 4.70 and a beta of 1.00. The company has a 50 day moving average of $85.73 and a 200 day moving average of $94.67.
Starbucks (NASDAQ:SBUX - Get Free Report) last released its quarterly earnings data 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 for the quarter, compared to analysts' expectations of $8.90 billion. Starbucks had a negative return on equity of 42.14% and a net margin of 8.61%. Starbucks's revenue for the quarter was up 2.3% on a year-over-year basis. During the same period last year, the firm posted $0.68 earnings per share. As a group, research analysts anticipate that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.
About Starbucks
(
Free Report)
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.
See Also
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