World Investment Advisors Buys 8,966 Shares of Starbucks Corporation (NASDAQ:SBUX)

World Investment Advisors lifted its position in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 14.0% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 72,866 shares of the coffee company's stock after buying an additional 8,966 shares during the period. World Investment Advisors' holdings in Starbucks were worth $7,147,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Capital Wealth Advisors purchased a new position in shares of Starbucks during the fourth quarter valued at $285,000. OFI Invest Asset Management purchased a new position in shares of Starbucks during the fourth quarter valued at $9,497,000. Czech National Bank grew its holdings in shares of Starbucks by 6.2% during the first quarter. Czech National Bank now owns 260,898 shares of the coffee company's stock valued at $25,591,000 after buying an additional 15,132 shares in the last quarter. Treasurer of the State of North Carolina grew its holdings in shares of Starbucks by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 498,511 shares of the coffee company's stock valued at $45,489,000 after buying an additional 3,130 shares in the last quarter. Finally, Markel Group Inc. grew its holdings in shares of Starbucks by 2.8% during the fourth quarter. Markel Group Inc. now owns 617,318 shares of the coffee company's stock valued at $56,330,000 after buying an additional 17,000 shares in the last quarter. Institutional investors own 72.29% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on SBUX. Stifel Nicolaus lowered their price target on Starbucks from $103.00 to $92.00 and set a "buy" rating on the stock in a report on Wednesday, April 30th. Wells Fargo & Company lowered their price target on Starbucks from $125.00 to $100.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. JPMorgan Chase & Co. dropped their target price on Starbucks from $105.00 to $100.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 30th. Cowen reaffirmed a "hold" rating on shares of Starbucks in a research note on Tuesday, June 24th. Finally, UBS Group cut their price target on Starbucks from $105.00 to $90.00 and set a "neutral" rating for the company in a research note on Monday, April 28th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, Starbucks currently has an average rating of "Hold" and a consensus target price of $98.23.

Starbucks Stock Up 0.2%

Starbucks stock traded up $0.15 during mid-day trading on Wednesday, hitting $95.09. 5,762,440 shares of the company's stock were exchanged, compared to its average volume of 10,894,839. The firm has a market capitalization of $108.06 billion, a P/E ratio of 34.45, a PEG ratio of 4.80 and a beta of 1.02. Starbucks Corporation has a fifty-two week low of $71.55 and a fifty-two week high of $117.46. The company's 50 day simple moving average is $88.33 and its 200-day simple moving average is $94.40.

Starbucks (NASDAQ:SBUX - Get Free Report) last issued its quarterly earnings data 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 for 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 quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.68 EPS. Research analysts expect that Starbucks Corporation will post 2.99 EPS for the current 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.