Trek Financial LLC Takes Position in Starbucks Corporation (NASDAQ:SBUX)

Trek Financial LLC bought a new position in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 15,281 shares of the coffee company's stock, valued at approximately $1,499,000.

Other institutional investors have also modified their holdings of the company. University of Texas Texas AM Investment Management Co. acquired a new position in Starbucks in the fourth quarter valued at $25,000. Graney & King LLC acquired a new stake in Starbucks in the 4th quarter valued at $26,000. Runnymede Capital Advisors Inc. acquired a new stake in Starbucks in the 4th quarter valued at $27,000. Kapitalo Investimentos Ltda purchased a new position in Starbucks in the 4th quarter worth approximately $32,000. Finally, Ball & Co Wealth Management Inc. acquired a new position in Starbucks in the 4th quarter worth $41,000. Hedge funds and other institutional investors own 72.29% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Barclays reissued an "overweight" rating and set a $108.00 price objective (up from $98.00) on shares of Starbucks in a report on Thursday, June 26th. Royal Bank Of Canada increased their target price on shares of Starbucks from $95.00 to $100.00 and gave the stock an "outperform" rating in a report on Wednesday, June 11th. TD Cowen reaffirmed a "hold" rating and set a $90.00 target price on shares of Starbucks in a report on Thursday, May 29th. Wall Street Zen downgraded shares of Starbucks from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Finally, Guggenheim cut their price target on Starbucks from $95.00 to $83.00 and set a "neutral" rating on the stock in a report on Tuesday, April 29th. Three research 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. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $98.73.

Starbucks Price Performance

NASDAQ:SBUX traded down $0.21 during mid-day trading on Friday, hitting $94.94. 6,339,001 shares of the company's stock were exchanged, compared to its average volume of 10,856,662. The company has a market cap of $107.89 billion, a PE ratio of 34.40, a P/E/G ratio of 4.88 and a beta of 1.02. Starbucks Corporation has a one year low of $71.55 and a one year high of $117.46. The business has a fifty day moving average price of $88.90 and a 200 day moving average price of $94.46.

Starbucks (NASDAQ:SBUX - Get Free Report) last released its quarterly 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 business had revenue of $8.76 billion during the quarter, compared to the consensus estimate of $8.90 billion. Starbucks had a negative return on equity of 42.14% and a net margin of 8.61%. The firm's revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.68 earnings per share. On average, equities analysts forecast that Starbucks Corporation will post 2.99 EPS for the current fiscal 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.