Envestnet Asset Management Inc. Acquires 405,403 Shares of Starbucks Corporation (NASDAQ:SBUX)

Envestnet Asset Management Inc. boosted its stake in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 11.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,821,390 shares of the coffee company's stock after purchasing an additional 405,403 shares during the period. Envestnet Asset Management Inc. owned about 0.34% of Starbucks worth $374,840,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Vanguard Capital Wealth Advisors purchased a new position in shares of Starbucks during the fourth quarter valued at about $285,000. Czech National Bank boosted its position in shares of Starbucks by 6.2% in the 1st 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 in the last quarter. Treasurer of the State of North Carolina increased its holdings in Starbucks by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 498,511 shares of the coffee company's stock worth $45,489,000 after buying an additional 3,130 shares during the period. Markel Group Inc. lifted its holdings in shares of Starbucks by 2.8% in the 4th quarter. Markel Group Inc. now owns 617,318 shares of the coffee company's stock valued at $56,330,000 after buying an additional 17,000 shares during the period. Finally, Natural Investments LLC acquired a new position in Starbucks during the fourth quarter worth $1,295,000. Institutional investors own 72.29% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on SBUX shares. Wall Street Zen lowered Starbucks from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Royal Bank Of Canada lifted their target price on Starbucks from $95.00 to $100.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 11th. Cowen reissued a "hold" rating on shares of Starbucks in a research report on Tuesday, June 24th. Barclays reiterated an "overweight" rating and set a $108.00 target price (up previously from $98.00) on shares of Starbucks in a research report on Thursday, June 26th. Finally, Wells Fargo & Company lowered their target price on shares of Starbucks from $125.00 to $100.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $98.23.

Starbucks Stock Up 0.3%

Starbucks stock traded up $0.31 during midday trading on Wednesday, hitting $95.25. 8,310,629 shares of the stock were exchanged, compared to its average volume of 10,891,597. The company has a fifty day simple moving average of $88.33 and a two-hundred day simple moving average of $94.40. The stock has a market capitalization of $108.24 billion, a PE ratio of 34.51, a P/E/G ratio of 4.86 and a beta of 1.02. Starbucks Corporation has a 52 week low of $71.55 and a 52 week 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). The company 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 company's revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.68 earnings per share. As a group, equities research analysts anticipate that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

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.