Starbucks Corporation $SBUX Shares Acquired by Fort Washington Investment Advisors Inc. OH

Key Points

• Fort Washington Investment Advisors Inc. OH has increased its stake in Starbucks Corporation by 0.5%, acquiring an additional 5,465 shares, bringing their total ownership to approximately 1.1 million shares.
• Stock analysts have mixed views on Starbucks, with price targets ranging from $76.00 to $104.40, indicating a generally optimistic sentiment despite some downgrades.
• Starbucks reported a quarterly earnings miss with earnings per share of $0.50, below analysts' estimates of $0.64, while revenue increased by 3.8% year-over-year.

Fort Washington Investment Advisors Inc. OH increased its stake in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 0.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,100,441 shares of the coffee company's stock after buying an additional 5,465 shares during the quarter. Fort Washington Investment Advisors Inc. OH owned about 0.10% of Starbucks worth $100,833,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Hughes Financial Services LLC purchased a new stake in Starbucks in the 1st quarter valued at approximately $27,000. CBIZ Investment Advisory Services LLC boosted its stake in shares of Starbucks by 125.2% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company's stock worth $28,000 after acquiring an additional 159 shares in the last quarter. McClarren Financial Advisors Inc. purchased a new stake in shares of Starbucks during the 1st quarter worth approximately $29,000. Nova Wealth Management Inc. boosted its stake in shares of Starbucks by 285.4% during the 1st quarter. Nova Wealth Management Inc. now owns 316 shares of the coffee company's stock worth $31,000 after acquiring an additional 234 shares in the last quarter. Finally, Activest Wealth Management boosted its stake in shares of Starbucks by 78.0% during the 1st quarter. Activest Wealth Management now owns 331 shares of the coffee company's stock worth $32,000 after acquiring an additional 145 shares in the last quarter. Hedge funds and other institutional investors own 72.29% of the company's stock.

Analysts Set New Price Targets

SBUX has been the subject of several research reports. Sanford C. Bernstein lifted their price objective on Starbucks from $90.00 to $100.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 2nd. TD Securities reiterated a "hold" rating and issued a $90.00 price target on shares of Starbucks in a report on Monday, June 23rd. Jefferies Financial Group downgraded Starbucks from a "hold" rating to an "underperform" rating and set a $76.00 price target for the company. in a report on Thursday, July 17th. Baird R W upgraded Starbucks from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 12th. Finally, The Goldman Sachs Group reiterated a "neutral" rating and issued a $95.00 price target (up from $85.00) on shares of Starbucks in a report on Thursday, June 12th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $104.40.

Starbucks Trading Down 0.5%

Shares of Starbucks stock opened at $83.39 on Friday. The company has a fifty day moving average price of $88.48 and a 200 day moving average price of $88.97. Starbucks Corporation has a twelve month low of $75.50 and a twelve month high of $117.46. The stock has a market cap of $94.79 billion, a price-to-earnings ratio of 35.94, a price-to-earnings-growth ratio of 4.98 and a beta of 1.00.

Starbucks (NASDAQ:SBUX - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The coffee company reported $0.50 earnings per share for the quarter, missing analysts' consensus estimates of $0.64 by ($0.14). The firm had revenue of $9.46 billion during the quarter, compared to analysts' expectations of $9.29 billion. Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The business's quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.93 earnings per share. Analysts forecast that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Company 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.

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