GAMMA Investing LLC grew its stake in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 21.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,591 shares of the coffee company's stock after purchasing an additional 3,703 shares during the quarter. GAMMA Investing LLC's holdings in Starbucks were worth $2,020,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. University of Texas Texas AM Investment Management Co. acquired a new stake in Starbucks during the fourth quarter worth approximately $25,000. Graney & King LLC acquired a new position in Starbucks during the fourth quarter worth approximately $26,000. Runnymede Capital Advisors Inc. acquired a new position in Starbucks during the fourth quarter worth approximately $27,000. Noble Wealth Management PBC acquired a new position in Starbucks during the fourth quarter worth approximately $30,000. Finally, Kapitalo Investimentos Ltda acquired a new position in Starbucks during the fourth quarter worth approximately $32,000. Institutional investors and hedge funds own 72.29% of the company's stock.
Starbucks Price Performance
Starbucks stock opened at $92.11 on Friday. Starbucks Corporation has a 1-year low of $71.55 and a 1-year high of $117.46. The company has a market cap of $104.67 billion, a PE ratio of 33.37, a price-to-earnings-growth ratio of 4.72 and a beta of 1.00. The stock's 50 day moving average price is $86.80 and its 200 day moving average price is $94.32.
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 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 during 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. On average, equities research analysts anticipate that Starbucks Corporation will post 2.99 EPS for the current fiscal year.
Analysts Set New Price Targets
SBUX has been the topic of several research analyst reports. Wall Street Zen lowered Starbucks from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Jefferies Financial Group raised Starbucks from an "underperform" rating to a "hold" rating and set a $76.00 price target on the stock in a research report on Wednesday, April 9th. TD Securities reaffirmed a "hold" rating and set a $90.00 price target on shares of Starbucks in a research report on Monday, June 23rd. Cowen reaffirmed a "hold" rating on shares of Starbucks in a research report on Tuesday. Finally, Argus raised Starbucks from a "hold" rating to a "buy" rating and set a $115.00 price target on the stock in a research report on Tuesday, March 18th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $98.76.
Read Our Latest Stock Report on SBUX
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.
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