World Investment Advisors Raises Position in Starbucks Corporation (NASDAQ:SBUX)

World Investment Advisors boosted its position in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 14.0% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 72,866 shares of the coffee company's stock after purchasing an additional 8,966 shares during the period. World Investment Advisors' holdings in Starbucks were worth $7,147,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. University of Texas Texas AM Investment Management Co. bought a new position in shares of Starbucks during the 4th quarter valued at approximately $25,000. Graney & King LLC bought a new position in shares of Starbucks during the 4th quarter valued at approximately $26,000. Runnymede Capital Advisors Inc. purchased a new stake in shares of Starbucks during the 4th quarter valued at approximately $27,000. Kapitalo Investimentos Ltda purchased a new stake in shares of Starbucks during the 4th quarter valued at approximately $32,000. Finally, Ball & Co Wealth Management Inc. purchased a new stake in shares of Starbucks during the 4th quarter valued at approximately $41,000. 72.29% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on SBUX. Cowen reiterated a "hold" rating on shares of Starbucks in a research note on Tuesday, June 24th. Robert W. Baird reiterated a "neutral" rating and issued a $85.00 target price (down from $114.00) on shares of Starbucks in a research note on Monday, April 7th. Argus upgraded shares of Starbucks from a "hold" rating to a "buy" rating and set a $115.00 target price on the stock in a research note on Tuesday, March 18th. TD Securities reiterated a "hold" rating and issued a $90.00 target price on shares of Starbucks in a research note on Monday, June 23rd. Finally, Barclays reiterated an "overweight" rating and issued a $108.00 target price (up from $98.00) on shares of Starbucks in a research note on Thursday, June 26th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, Starbucks presently has an average rating of "Hold" and an average price target of $98.23.

Starbucks Price Performance

NASDAQ SBUX traded up $0.26 during trading hours on Friday, reaching $94.44. 3,557,273 shares of the company's stock traded hands, compared to its average volume of 10,935,717. Starbucks Corporation has a 52-week low of $71.55 and a 52-week high of $117.46. The firm has a market cap of $107.32 billion, a PE ratio of 34.22, a PEG ratio of 4.84 and a beta of 1.02. The firm has a 50-day simple moving average of $87.93 and a 200 day simple moving average of $94.31.

Starbucks (NASDAQ:SBUX - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The coffee company reported $0.41 earnings per share (EPS) 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 business had revenue of $8.76 billion for the quarter, compared to analysts' expectations of $8.90 billion. During the same period last year, the business earned $0.68 earnings per share. The company's revenue was up 2.3% on a year-over-year basis. Sell-side analysts forecast that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

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.