Starbucks Corporation (NASDAQ:SBUX) Shares Purchased by Truist Financial Corp

Truist Financial Corp boosted its stake in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 2.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 802,305 shares of the coffee company's stock after buying an additional 17,089 shares during the period. Truist Financial Corp owned approximately 0.07% of Starbucks worth $78,698,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. University of Texas Texas AM Investment Management Co. purchased a new position in Starbucks during the fourth quarter worth $25,000. Graney & King LLC purchased a new position in Starbucks during the fourth quarter worth $26,000. Runnymede Capital Advisors Inc. purchased a new position in Starbucks during the fourth quarter worth $27,000. Kapitalo Investimentos Ltda bought a new stake in shares of Starbucks during the 4th quarter worth approximately $32,000. Finally, Ball & Co Wealth Management Inc. bought a new stake in shares of Starbucks during the 4th quarter worth approximately $41,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Price Performance

NASDAQ SBUX traded up $0.26 during trading on Friday, hitting $94.44. The company's stock had a trading volume of 3,557,273 shares, compared to its average volume of 10,935,717. The company has a market cap of $107.32 billion, a PE ratio of 34.22, a P/E/G ratio of 4.84 and a beta of 1.02. The business's 50 day simple moving average is $87.93 and its 200-day simple moving average is $94.31. 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 released its earnings results on Tuesday, April 29th. The coffee company reported $0.41 EPS for the quarter, missing analysts' consensus estimates of $0.51 by ($0.10). Starbucks had a negative return on equity of 42.14% and a net margin of 8.61%. The firm had revenue of $8.76 billion for the quarter, compared to analyst estimates of $8.90 billion. During the same period last year, the firm earned $0.68 EPS. The company's revenue for the quarter was up 2.3% compared to the same quarter last year. Analysts expect that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have weighed in on SBUX shares. Stifel Nicolaus reduced their target price on Starbucks from $103.00 to $92.00 and set a "buy" rating on the stock in a research note on Wednesday, April 30th. Guggenheim dropped their price target on Starbucks from $95.00 to $83.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 29th. Jefferies Financial Group raised Starbucks from an "underperform" rating to a "hold" rating and set a $76.00 price target on the stock in a research report on Wednesday, April 9th. Citigroup increased their price target on Starbucks from $84.00 to $95.00 and gave the stock a "neutral" rating in a research report on Thursday, June 12th. Finally, Cowen reissued a "hold" rating on shares of Starbucks in a research report on Tuesday, June 24th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $98.23.

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.