Turtle Creek Wealth Advisors LLC Buys Shares of 24,726 Starbucks Corporation (NASDAQ:SBUX)

Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 24,726 shares of the coffee company's stock, valued at approximately $2,425,000.

Several other hedge funds have also added to or reduced their stakes in SBUX. University of Texas Texas AM Investment Management Co. bought a new stake in Starbucks during the 4th quarter valued at about $25,000. Graney & King LLC bought a new stake in shares of Starbucks during the fourth quarter valued at approximately $26,000. Runnymede Capital Advisors Inc. purchased a new position in Starbucks in the 4th quarter worth approximately $27,000. Hughes Financial Services LLC bought a new position in Starbucks in the 1st quarter valued at approximately $27,000. Finally, Kapitalo Investimentos Ltda purchased a new stake in Starbucks during the 4th quarter valued at $32,000. 72.29% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on SBUX shares. Robert W. Baird reaffirmed a "neutral" rating and set a $85.00 price target (down from $114.00) on shares of Starbucks in a report on Monday, April 7th. Wall Street Zen cut shares of Starbucks from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $95.00 price target (up previously from $85.00) on shares of Starbucks in a report on Thursday, June 12th. UBS Group lowered their price objective on shares of Starbucks from $105.00 to $90.00 and set a "neutral" rating on the stock in a research report on Monday, April 28th. Finally, Barclays restated an "overweight" rating and issued a $108.00 target price (up previously from $98.00) on shares of Starbucks in a report on Thursday, June 26th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and fifteen have assigned a buy rating to the company's stock. According to data from MarketBeat, Starbucks currently has a consensus rating of "Hold" and an average target price of $98.92.

Starbucks Price Performance

Shares of SBUX stock traded down $1.52 during trading hours on Monday, hitting $93.42. The stock had a trading volume of 6,038,145 shares, compared to its average volume of 10,437,730. The stock has a market capitalization of $106.16 billion, a price-to-earnings ratio of 33.85, a PEG ratio of 4.86 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 stock's 50-day moving average price is $89.10 and its two-hundred day moving average price is $94.54.

Starbucks (NASDAQ:SBUX - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The coffee company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analysts' expectations of $8.90 billion. During the same period last year, the company earned $0.68 earnings per share. The firm's revenue was up 2.3% on a year-over-year basis. As a group, equities research analysts predict that Starbucks Corporation will post 2.99 earnings per share 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.