Allworth Financial LP Acquires 7,169 Shares of Starbucks Corporation (NASDAQ:SBUX)

Allworth Financial LP grew its position in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 4.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 188,365 shares of the coffee company's stock after acquiring an additional 7,169 shares during the period. Allworth Financial LP's holdings in Starbucks were worth $18,477,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Capital Wealth Advisors purchased a new stake in Starbucks in the fourth quarter worth about $285,000. Czech National Bank grew its holdings in Starbucks by 6.2% in the first quarter. Czech National Bank now owns 260,898 shares of the coffee company's stock worth $25,591,000 after purchasing an additional 15,132 shares during the period. Treasurer of the State of North Carolina grew its holdings in Starbucks by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 498,511 shares of the coffee company's stock worth $45,489,000 after purchasing an additional 3,130 shares during the period. Personal CFO Solutions LLC grew its holdings in Starbucks by 125.5% in the first quarter. Personal CFO Solutions LLC now owns 9,254 shares of the coffee company's stock worth $908,000 after purchasing an additional 5,151 shares during the period. Finally, Vanguard Group Inc. grew its holdings in Starbucks by 0.7% in 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 period. Hedge funds and other institutional investors own 72.29% of the company's stock.

Starbucks Trading Down 0.2%

SBUX traded down $0.21 during trading on Friday, hitting $94.94. 6,339,055 shares of the company traded hands, compared to its average volume of 10,850,827. The company has a market cap of $107.89 billion, a PE ratio of 34.40, a P/E/G ratio of 4.87 and a beta of 1.02. The stock's 50-day simple moving average is $89.10 and its two-hundred day simple moving average is $94.49. 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 issued its quarterly earnings data on Tuesday, April 29th. The coffee company reported $0.41 EPS for the quarter, missing analysts' consensus estimates of $0.51 by ($0.10). Starbucks had a negative return on equity of 42.14% and a net margin of 8.61%. The business had revenue of $8.76 billion during the quarter, compared to analysts' expectations of $8.90 billion. During the same period in the previous year, the business earned $0.68 earnings per share. The business's quarterly revenue was up 2.3% on a year-over-year basis. Equities analysts expect that Starbucks Corporation will post 2.99 EPS for the current year.

Analysts Set New Price Targets

SBUX has been the topic of a number of recent research reports. Wells Fargo & Company cut their price objective on shares of Starbucks from $125.00 to $100.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Barclays reiterated an "overweight" rating and set a $108.00 price target (up previously from $98.00) on shares of Starbucks in a report on Thursday, June 26th. Robert W. Baird reiterated a "neutral" rating and set a $85.00 price target (down previously from $114.00) on shares of Starbucks in a report on Monday, April 7th. Guggenheim cut their price target on shares of Starbucks from $95.00 to $83.00 and set a "neutral" rating on the stock in a report on Tuesday, April 29th. Finally, UBS Group cut their price target on shares of Starbucks from $105.00 to $90.00 and set a "neutral" rating on the stock in a report on Monday, April 28th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fifteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, Starbucks has a consensus rating of "Hold" and a consensus target price of $98.73.

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.