Trek Financial LLC acquired a new position in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 15,281 shares of the coffee company's stock, valued at approximately $1,499,000.
Several other institutional investors have also modified their holdings of SBUX. Vanguard Group Inc. raised its stake in Starbucks by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 111,106,209 shares of the coffee company's stock worth $10,138,442,000 after acquiring an additional 784,432 shares in the last quarter. Capital World Investors raised its stake in Starbucks by 20.1% during the 4th quarter. Capital World Investors now owns 54,924,230 shares of the coffee company's stock worth $5,011,796,000 after acquiring an additional 9,174,682 shares in the last quarter. FMR LLC raised its stake in Starbucks by 27.0% during the 4th quarter. FMR LLC now owns 25,128,649 shares of the coffee company's stock worth $2,292,989,000 after acquiring an additional 5,348,790 shares in the last quarter. Geode Capital Management LLC raised its stake in Starbucks by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 24,826,001 shares of the coffee company's stock worth $2,259,516,000 after acquiring an additional 548,245 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake in Starbucks by 4.7% during the 4th quarter. Wellington Management Group LLP now owns 15,868,817 shares of the coffee company's stock worth $1,448,030,000 after acquiring an additional 718,880 shares in the last quarter. 72.29% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of equities research analysts have recently commented on the stock. CICC Research assumed coverage on shares of Starbucks in a report on Monday, June 30th. They issued an "outperform" rating and a $100.00 target price for the company. BMO Capital Markets reduced their target price on shares of Starbucks from $115.00 to $100.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. Robert W. Baird reaffirmed a "neutral" rating and issued a $85.00 target price (down from $114.00) on shares of Starbucks in a report on Monday, April 7th. Baird R W cut shares of Starbucks from a "strong-buy" rating to a "hold" rating in a report on Monday, April 7th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Starbucks from $105.00 to $100.00 and set an "overweight" rating for the company in a report on Wednesday, April 30th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fifteen have given a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $98.23.
Check Out Our Latest Stock Analysis on SBUX
Starbucks Stock Up 1.4%
Shares of SBUX opened at $94.94 on Wednesday. The firm has a market cap of $107.89 billion, a PE ratio of 34.40, a price-to-earnings-growth ratio of 4.80 and a beta of 1.02. The company's fifty day moving average is $88.33 and its two-hundred day moving average is $94.40. Starbucks Corporation has a fifty-two week low of $71.55 and a fifty-two week high of $117.46.
Starbucks (NASDAQ:SBUX - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The coffee company reported $0.41 earnings per share for the quarter, missing analysts' consensus estimates of $0.51 by ($0.10). The company had revenue of $8.76 billion during the quarter, compared to analyst estimates of $8.90 billion. Starbucks had a net margin of 8.61% and a negative return on equity of 42.14%. The firm's revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.68 EPS. As a group, equities research analysts anticipate that Starbucks Corporation will post 2.99 earnings per share for the current year.
Starbucks Company Profile
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Free Report)
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.
Further Reading
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