Tounjian Advisory Partners LLC Acquires New Position in Starbucks Co. (NASDAQ:SBUX)

Tounjian Advisory Partners LLC acquired a new position in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 9,954 shares of the coffee company's stock, valued at approximately $976,000.

Several other hedge funds have also modified their holdings of SBUX. Strategic Financial Concepts LLC purchased a new stake in shares of Starbucks in the 4th quarter valued at approximately $62,000. Arizona State Retirement System increased its holdings in Starbucks by 0.8% in the fourth quarter. Arizona State Retirement System now owns 327,459 shares of the coffee company's stock valued at $29,881,000 after buying an additional 2,722 shares during the last quarter. West Michigan Advisors LLC acquired a new stake in Starbucks in the fourth quarter valued at $265,000. Wernau Asset Management Inc. purchased a new stake in Starbucks during the 4th quarter worth about $258,000. Finally, Vanguard Capital Wealth Advisors purchased a new position in shares of Starbucks in the 4th quarter valued at about $285,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Price Performance

NASDAQ SBUX traded up $0.76 on Tuesday, reaching $91.43. The company had a trading volume of 6,907,436 shares, compared to its average volume of 11,036,925. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $117.46. The firm has a 50-day moving average of $84.28 and a 200-day moving average of $95.06. The firm has a market capitalization of $103.90 billion, a PE ratio of 29.49, a P/E/G ratio of 3.59 and a beta of 1.00.

Starbucks (NASDAQ:SBUX - Get Free Report) last announced its earnings results on Tuesday, April 29th. The coffee company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.10). The firm had revenue of $8.76 billion during the quarter, compared to analysts' expectations of $8.90 billion. Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. Starbucks's revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.68 earnings per share. As a group, sell-side analysts expect that Starbucks Co. will post 2.99 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on SBUX shares. BMO Capital Markets cut their price objective on shares of Starbucks from $115.00 to $100.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. TD Cowen restated a "hold" rating and set a $90.00 price target on shares of Starbucks in a research note on Thursday, May 29th. Wells Fargo & Company dropped their price objective on Starbucks from $125.00 to $100.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Jefferies Financial Group raised Starbucks from an "underperform" rating to a "hold" rating and set a $76.00 price objective for the company in a research note on Wednesday, April 9th. Finally, TD Securities reissued a "hold" rating and issued a $90.00 price objective on shares of Starbucks in a research note on Thursday, May 29th. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $97.92.

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.