Starbucks Corporation (NASDAQ:SBUX) Stake Boosted by IFM Investors Pty Ltd

IFM Investors Pty Ltd raised its stake in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 9.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 224,972 shares of the coffee company's stock after purchasing an additional 20,223 shares during the period. IFM Investors Pty Ltd's holdings in Starbucks were worth $21,933,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Starbucks during the fourth quarter valued at about $25,000. Graney & King LLC purchased a new position in Starbucks during the fourth quarter worth about $26,000. Runnymede Capital Advisors Inc. purchased a new position in Starbucks in the fourth quarter valued at about $27,000. Kapitalo Investimentos Ltda bought a new position in Starbucks during the fourth quarter valued at $32,000. Finally, Ball & Co Wealth Management Inc. bought a new position in Starbucks during the fourth quarter valued at $41,000. 72.29% of the stock is owned by institutional investors.

Starbucks Stock Up 0.3%

NASDAQ SBUX traded up $0.26 during trading hours on Friday, hitting $94.44. 3,557,273 shares of the stock were exchanged, compared to its average volume of 10,930,626. The company has a market cap of $107.32 billion, a price-to-earnings ratio of 34.22, a price-to-earnings-growth ratio of 4.84 and a beta of 1.02. Starbucks Corporation has a 12-month low of $71.55 and a 12-month high of $117.46. The stock has a 50-day moving average of $87.93 and a 200 day moving average of $94.28.

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

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. The Goldman Sachs Group reissued a "neutral" rating and set a $95.00 price objective (up from $85.00) on shares of Starbucks in a report on Thursday, June 12th. CICC Research began coverage on Starbucks in a research report on Monday, June 30th. They issued an "outperform" rating and a $100.00 price objective on the stock. TD Securities reiterated a "hold" rating and issued a $90.00 price objective on shares of Starbucks in a research report on Monday, June 23rd. UBS Group lowered their price target on Starbucks from $105.00 to $90.00 and set a "neutral" rating on the stock in a research report on Monday, April 28th. Finally, Argus upgraded Starbucks from a "hold" rating to a "buy" rating and set a $115.00 price objective on the stock in a report on Tuesday, March 18th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average 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.