Sumitomo Mitsui Trust Group Inc. lifted its position in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 2.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,717,177 shares of the coffee company's stock after purchasing an additional 59,086 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.24% of Starbucks worth $266,528,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also recently made changes to their positions in SBUX. Patron Partners LLC increased its holdings in Starbucks by 6.5% in the 1st quarter. Patron Partners LLC now owns 10,608 shares of the coffee company's stock worth $1,041,000 after acquiring an additional 643 shares in the last quarter. Confluence Wealth Services Inc. increased its holdings in Starbucks by 84.9% in the 1st quarter. Confluence Wealth Services Inc. now owns 6,571 shares of the coffee company's stock worth $645,000 after acquiring an additional 3,018 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Starbucks by 21.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 646,814 shares of the coffee company's stock worth $63,537,000 after buying an additional 114,073 shares in the last quarter. 3Chopt Investment Partners LLC purchased a new stake in shares of Starbucks during the first quarter worth $457,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Starbucks by 25.8% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 529,657 shares of the coffee company's stock worth $51,783,000 after buying an additional 108,551 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
SBUX has been the subject of a number of analyst reports. UBS Group dropped their price objective on shares of Starbucks from $105.00 to $90.00 and set a "neutral" rating for the company in a report on Monday, April 28th. Stifel Nicolaus lowered their price objective on shares of Starbucks from $103.00 to $92.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. Cowen reissued a "hold" rating on shares of Starbucks in a research note on Tuesday. Royal Bank Of Canada raised their price objective on shares of Starbucks from $95.00 to $100.00 and gave the company an "outperform" rating in a research note on Wednesday, June 11th. Finally, Argus raised shares of Starbucks from a "hold" rating to a "buy" rating and set a $115.00 price objective for the company in a research note on Tuesday, March 18th. Three investment 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's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $98.76.
Check Out Our Latest Stock Analysis on SBUX
Starbucks Stock Performance
Shares of SBUX stock opened at $92.11 on Friday. The stock's 50-day moving average is $86.80 and its two-hundred day moving average is $94.35. The firm has a market cap of $104.67 billion, a price-to-earnings ratio of 33.37, a PEG ratio of 4.70 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 announced its earnings results on Tuesday, April 29th. The coffee company reported $0.41 EPS for the quarter, missing analysts' consensus estimates of $0.51 by ($0.10). The business had revenue of $8.76 billion during the quarter, compared to analyst estimates of $8.90 billion. Starbucks had a net margin of 8.61% and a negative return on equity of 42.14%. The business's revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.68 earnings per share. As a group, research analysts predict that Starbucks Corporation will post 2.99 EPS for the current year.
Starbucks Profile
(
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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