State of Alaska Department of Revenue Raises Stock Holdings in Starbucks Corporation $SBUX

Key Points

• The State of Alaska Department of Revenue increased its stake in Starbucks Corporation by 11.3% during the second quarter, bringing its total holdings to 148,129 shares, worth approximately $13.57 million.
• Starbucks reported $0.50 EPS for the most recent quarter, missing estimates by $0.14, while its revenue of $9.46 billion exceeded expectations of $9.29 billion.
• Numerous analysts have updated their ratings for Starbucks, with price targets ranging from $76.00 to $110.00, reflecting a generally favorable outlook despite varied ratings across different institutions.

State of Alaska Department of Revenue raised its stake in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 11.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 148,129 shares of the coffee company's stock after buying an additional 15,090 shares during the period. State of Alaska Department of Revenue's holdings in Starbucks were worth $13,572,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Napa Wealth Management bought a new position in Starbucks in the 1st quarter worth approximately $1,435,000. Czech National Bank boosted its stake in Starbucks by 6.2% during the 1st quarter. Czech National Bank now owns 260,898 shares of the coffee company's stock worth $25,591,000 after acquiring an additional 15,132 shares during the last quarter. Personal CFO Solutions LLC lifted its stake in Starbucks by 125.5% in the first quarter. Personal CFO Solutions LLC now owns 9,254 shares of the coffee company's stock valued at $908,000 after buying an additional 5,151 shares in the last quarter. First Manhattan CO. LLC. boosted its position in Starbucks by 33.1% during the 1st quarter. First Manhattan CO. LLC. now owns 446,294 shares of the coffee company's stock worth $43,777,000 after acquiring an additional 111,015 shares during the last quarter. Finally, Fox Run Management L.L.C. bought a new stake in shares of Starbucks during the 1st quarter worth approximately $998,000. Institutional investors and hedge funds own 72.29% of the company's stock.

Starbucks Stock Performance

NASDAQ SBUX opened at $83.39 on Friday. Starbucks Corporation has a one year low of $75.50 and a one year high of $117.46. The firm's fifty day moving average is $88.48 and its two-hundred day moving average is $88.97. The firm has a market cap of $94.79 billion, a PE ratio of 35.94, a P/E/G ratio of 4.98 and a beta of 1.00.

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

Wall Street Analyst Weigh In

SBUX has been the subject of several recent research reports. Evercore ISI reiterated an "outperform" rating and issued a $105.00 price target (up from $95.00) on shares of Starbucks in a research note on Tuesday, June 24th. Royal Bank Of Canada raised their price target on shares of Starbucks from $100.00 to $110.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. Wells Fargo & Company increased their price objective on Starbucks from $100.00 to $105.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. Jefferies Financial Group lowered shares of Starbucks from a "hold" rating to an "underperform" rating and set a $76.00 price objective on the stock. in a research note on Thursday, July 17th. Finally, Guggenheim raised their price objective on Starbucks from $79.00 to $90.00 and gave the stock a "neutral" rating in a research note on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Starbucks presently has an average rating of "Moderate Buy" and an average target price of $104.40.

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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