Starbucks Corporation $SBUX Shares Acquired by Vision Capital Management Inc.

Key Points

• Vision Capital Management Inc. increased its stake in Starbucks by 5.7% during the 2nd quarter, owning 92,814 shares valued at approximately $8.5 million.
• A number of hedge funds, including Nuveen LLC and Goldman Sachs Group Inc., have significantly increased their positions in Starbucks, contributing to 72.29% of the stock being owned by institutional investors.
• Starbucks reported $0.50 earnings per share for the last quarter, missing estimates, although revenue was up 3.8% year-over-year at $9.46 billion.

Vision Capital Management Inc. lifted its stake in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 5.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 92,814 shares of the coffee company's stock after purchasing an additional 5,022 shares during the period. Starbucks makes up 1.1% of Vision Capital Management Inc.'s investment portfolio, making the stock its 23rd largest holding. Vision Capital Management Inc.'s holdings in Starbucks were worth $8,505,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Nuveen LLC purchased a new stake in Starbucks during the first quarter worth $1,379,619,000. Jennison Associates LLC acquired a new position in shares of Starbucks in the first quarter worth $817,759,000. Polen Capital Management LLC purchased a new position in Starbucks in the 1st quarter valued at about $503,539,000. Goldman Sachs Group Inc. grew its stake in Starbucks by 59.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 9,623,282 shares of the coffee company's stock worth $943,948,000 after acquiring an additional 3,589,537 shares during the period. Finally, Wellington Management Group LLP increased its stake in shares of Starbucks by 22.3% during the 1st quarter. Wellington Management Group LLP now owns 19,414,472 shares of the coffee company's stock valued at $1,904,366,000 after acquiring an additional 3,545,655 shares during the last quarter. 72.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SBUX has been the subject of a number of research reports. Evercore ISI reissued an "outperform" rating and set a $105.00 price target (up previously from $95.00) on shares of Starbucks in a research report on Tuesday, June 24th. TD Cowen restated a "hold" rating and issued a $95.00 target price on shares of Starbucks in a research note on Thursday. Stifel Nicolaus increased their price target on shares of Starbucks from $92.00 to $105.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Guggenheim lifted their target price on Starbucks from $79.00 to $90.00 and gave the company a "neutral" rating in a research note on Thursday, July 31st. Finally, Morgan Stanley restated an "overweight" rating and set a $103.00 price objective (up previously from $95.00) on shares of Starbucks in a research report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $104.40.

Starbucks Price Performance

SBUX stock opened at $83.83 on Friday. The firm has a 50 day simple moving average of $88.68 and a 200 day simple moving average of $89.15. The firm has a market cap of $95.29 billion, a PE ratio of 36.13, a P/E/G ratio of 5.04 and a beta of 1.00. Starbucks Corporation has a 12 month low of $75.50 and a 12 month high of $117.46.

Starbucks (NASDAQ:SBUX - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The coffee company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.14). The company had revenue of $9.46 billion during the quarter, compared to analyst estimates of $9.29 billion. Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The firm's quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.93 EPS. As a group, sell-side 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.

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