SteelPeak Wealth LLC Buys 10,094 Shares of Starbucks Corporation (NASDAQ:SBUX)

SteelPeak Wealth LLC lifted its holdings in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 53.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,822 shares of the coffee company's stock after buying an additional 10,094 shares during the period. SteelPeak Wealth LLC's holdings in Starbucks were worth $2,827,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of SBUX. Diversify Wealth Management LLC increased its position in shares of Starbucks by 192.0% during the first quarter. Diversify Wealth Management LLC now owns 11,908 shares of the coffee company's stock valued at $1,168,000 after acquiring an additional 7,830 shares during the last quarter. Xponance Inc. increased its position in shares of Starbucks by 1.6% during the first quarter. Xponance Inc. now owns 243,214 shares of the coffee company's stock valued at $23,857,000 after acquiring an additional 3,778 shares during the last quarter. Country Club Bank increased its position in shares of Starbucks by 0.9% during the first quarter. Country Club Bank now owns 22,381 shares of the coffee company's stock valued at $2,187,000 after acquiring an additional 195 shares during the last quarter. Weil Company Inc. increased its position in shares of Starbucks by 5.8% during the first quarter. Weil Company Inc. now owns 37,656 shares of the coffee company's stock valued at $3,694,000 after acquiring an additional 2,080 shares during the last quarter. Finally, Correct Capital Wealth Management increased its position in shares of Starbucks by 7.0% during the first quarter. Correct Capital Wealth Management now owns 3,369 shares of the coffee company's stock valued at $330,000 after acquiring an additional 219 shares during the last quarter. 72.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SBUX. Robert W. Baird reiterated a "neutral" rating and set a $85.00 price target (down from $114.00) on shares of Starbucks in a research report on Monday, April 7th. Royal Bank Of Canada lifted their price objective on shares of Starbucks from $95.00 to $100.00 and gave the company an "outperform" rating in a report on Wednesday, June 11th. Argus upgraded shares of Starbucks from a "hold" rating to a "buy" rating and set a $115.00 price objective for the company in a report on Tuesday, March 18th. Evercore ISI restated an "outperform" rating and issued a $105.00 price objective (up previously from $95.00) on shares of Starbucks in a report on Tuesday, June 24th. Finally, TD Cowen restated a "hold" rating and issued a $90.00 price objective on shares of Starbucks in a report on Thursday, May 29th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and fifteen have given a buy rating to the company's stock. According to data from MarketBeat.com, Starbucks has a consensus rating of "Hold" and a consensus target price of $98.73.

Starbucks Stock Down 0.2%

Starbucks stock traded down $0.21 during mid-day trading on Friday, hitting $94.94. 6,339,055 shares of the company were exchanged, compared to its average volume of 10,850,827. The business has a fifty day moving average of $88.90 and a 200 day moving average of $94.46. Starbucks Corporation has a 1-year low of $71.55 and a 1-year high of $117.46. The company has a market capitalization of $107.89 billion, a PE ratio of 34.40, a price-to-earnings-growth ratio of 4.87 and a beta of 1.02.

Starbucks (NASDAQ:SBUX - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The coffee company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.10). Starbucks had a negative return on equity of 42.14% and a net margin of 8.61%. The company had revenue of $8.76 billion for the quarter, compared to analyst estimates of $8.90 billion. During the same quarter in the prior year, the company earned $0.68 earnings per share. The business's revenue was up 2.3% compared to the same quarter last year. Research analysts expect 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.