Diversify Wealth Management LLC Has $1.17 Million Position in Starbucks Corporation (NASDAQ:SBUX)

Diversify Wealth Management LLC raised its position in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 192.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,908 shares of the coffee company's stock after buying an additional 7,830 shares during the period. Diversify Wealth Management LLC's holdings in Starbucks were worth $1,168,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SBUX. Vanguard Group Inc. lifted its position in shares of Starbucks by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 111,106,209 shares of the coffee company's stock worth $10,138,442,000 after purchasing an additional 784,432 shares during the last quarter. Capital World Investors lifted its position in shares of Starbucks by 20.1% during the fourth quarter. Capital World Investors now owns 54,924,230 shares of the coffee company's stock worth $5,011,796,000 after purchasing an additional 9,174,682 shares during the last quarter. FMR LLC lifted its position in shares of Starbucks by 27.0% during the fourth quarter. FMR LLC now owns 25,128,649 shares of the coffee company's stock worth $2,292,989,000 after purchasing an additional 5,348,790 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Starbucks by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 24,826,001 shares of the coffee company's stock worth $2,259,516,000 after purchasing an additional 548,245 shares during the last quarter. Finally, Wellington Management Group LLP lifted its position in shares of Starbucks by 4.7% during the fourth quarter. Wellington Management Group LLP now owns 15,868,817 shares of the coffee company's stock worth $1,448,030,000 after purchasing an additional 718,880 shares during the last quarter. 72.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SBUX has been the topic of several research reports. Citigroup increased their price objective on shares of Starbucks from $84.00 to $95.00 and gave the stock a "neutral" rating in a research note on Thursday, June 12th. JPMorgan Chase & Co. dropped their price objective on shares of Starbucks from $105.00 to $100.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 30th. Wells Fargo & Company dropped their price objective on shares of Starbucks from $125.00 to $100.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Cowen reiterated a "hold" rating on shares of Starbucks in a research note on Tuesday, June 24th. Finally, TD Securities reiterated a "hold" rating and set a $90.00 price objective on shares of Starbucks in a research note on Monday, June 23rd. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and fifteen have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $98.73.

Starbucks Trading Down 0.2%

NASDAQ:SBUX traded down $0.21 during mid-day trading on Friday, hitting $94.94. 6,339,055 shares of the company's stock were exchanged, compared to its average volume of 10,850,827. The company has a 50 day simple moving average of $89.10 and a 200-day simple moving average of $94.49. Starbucks Corporation has a fifty-two week low of $71.55 and a fifty-two week high of $117.46. The firm has a market capitalization of $107.89 billion, a P/E ratio of 34.40, a PEG ratio of 4.87 and a beta of 1.02.

Starbucks (NASDAQ:SBUX - Get Free Report) last posted its 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). The business had revenue of $8.76 billion for the quarter, compared to analyst estimates of $8.90 billion. Starbucks had a negative return on equity of 42.14% and a net margin of 8.61%. The firm's quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.68 earnings per share. As a group, analysts expect that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Profile

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.