Truist Financial Corp Increases Holdings in Starbucks Corporation (NASDAQ:SBUX)

Truist Financial Corp increased its stake in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 2.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 802,305 shares of the coffee company's stock after acquiring an additional 17,089 shares during the period. Truist Financial Corp owned about 0.07% of Starbucks worth $78,698,000 as of its most recent filing with the Securities & Exchange Commission.

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

Starbucks Stock Performance

Shares of SBUX traded down $0.80 during midday trading on Monday, hitting $93.64. 5,310,198 shares of the stock were exchanged, compared to its average volume of 10,913,208. Starbucks Corporation has a 52-week low of $71.55 and a 52-week high of $117.46. The stock has a fifty day simple moving average of $87.93 and a 200 day simple moving average of $94.35. The firm has a market cap of $106.41 billion, a P/E ratio of 33.93, a P/E/G ratio of 4.84 and a beta of 1.02.

Starbucks (NASDAQ:SBUX - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The coffee company reported $0.41 EPS 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 analyst estimates of $8.90 billion. Starbucks had a negative return on equity of 42.14% and a net margin of 8.61%. The business's revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.68 EPS. As a group, equities research analysts forecast that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on SBUX shares. TD Securities restated a "hold" rating and issued a $90.00 target price on shares of Starbucks in a research report on Monday, June 23rd. Argus upgraded Starbucks from a "hold" rating to a "buy" rating and set a $115.00 price objective on the stock in a report on Tuesday, March 18th. Sanford C. Bernstein upped their target price on shares of Starbucks from $90.00 to $100.00 and gave the stock an "outperform" rating in a report on Wednesday, July 2nd. Guggenheim decreased their price target on shares of Starbucks from $95.00 to $83.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 29th. Finally, UBS Group dropped their price objective on shares of Starbucks from $105.00 to $90.00 and set a "neutral" rating for the company in a research note on Monday, April 28th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, Starbucks has an average rating of "Hold" and a consensus target price of $98.23.

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.