Starbucks Corporation (NASDAQ:SBUX) Shares Acquired by Washington Trust Bank

Washington Trust Bank boosted its position in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 5.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 179,261 shares of the coffee company's stock after purchasing an additional 9,235 shares during the period. Starbucks makes up approximately 1.8% of Washington Trust Bank's investment portfolio, making the stock its 17th biggest holding. Washington Trust Bank's holdings in Starbucks were worth $17,584,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in SBUX. Vanguard Capital Wealth Advisors bought a new position in shares of Starbucks in the fourth quarter worth about $285,000. OFI Invest Asset Management bought a new position in shares of Starbucks in the fourth quarter worth about $9,497,000. Czech National Bank grew its stake in Starbucks by 6.2% in the first quarter. Czech National Bank now owns 260,898 shares of the coffee company's stock worth $25,591,000 after purchasing an additional 15,132 shares in the last quarter. Treasurer of the State of North Carolina grew its stake in Starbucks by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 498,511 shares of the coffee company's stock worth $45,489,000 after purchasing an additional 3,130 shares in the last quarter. Finally, Markel Group Inc. grew its stake in Starbucks by 2.8% in the fourth quarter. Markel Group Inc. now owns 617,318 shares of the coffee company's stock worth $56,330,000 after purchasing an additional 17,000 shares in the last quarter. Institutional investors own 72.29% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Citigroup increased their price objective on Starbucks from $84.00 to $95.00 and gave the stock a "neutral" rating in a research note on Thursday, June 12th. Evercore ISI reissued an "outperform" rating and set a $105.00 target price (up previously from $95.00) on shares of Starbucks in a research report on Tuesday, June 24th. Barclays reissued an "overweight" rating and set a $108.00 target price (up previously from $98.00) on shares of Starbucks in a research report on Thursday, June 26th. Wall Street Zen downgraded shares of Starbucks from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Finally, Cowen reissued a "hold" rating on shares of Starbucks in a research report on Tuesday, June 24th. Three equities 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's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $98.23.

Starbucks Trading Down 0.1%

Shares of NASDAQ SBUX traded down $0.10 during trading on Thursday, reaching $95.15. 6,909,253 shares of the company traded hands, compared to its average volume of 10,875,731. The firm's fifty day simple moving average is $88.63 and its 200 day simple moving average is $94.40. The stock has a market cap of $108.13 billion, a P/E ratio of 34.47, a PEG ratio of 4.86 and a beta of 1.02. Starbucks Corporation has a 12-month low of $71.55 and a 12-month high of $117.46.

Starbucks (NASDAQ:SBUX - Get Free Report) last released its quarterly earnings data 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). Starbucks had a net margin of 8.61% and a negative return on equity of 42.14%. The company had revenue of $8.76 billion for the quarter, compared to analysts' expectations of $8.90 billion. During the same quarter in the previous year, the business posted $0.68 EPS. The business's quarterly revenue was up 2.3% on a year-over-year basis. As a group, research analysts expect that Starbucks Corporation will post 2.99 EPS for the current 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.