Xponance Inc. Grows Stock Position in Starbucks Corporation (NASDAQ:SBUX)

Xponance Inc. grew its position in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 1.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 243,214 shares of the coffee company's stock after acquiring an additional 3,778 shares during the quarter. Xponance Inc.'s holdings in Starbucks were worth $23,857,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. TrinityPoint Wealth LLC boosted its stake in Starbucks by 2.7% in the fourth quarter. TrinityPoint Wealth LLC now owns 3,421 shares of the coffee company's stock valued at $312,000 after acquiring an additional 89 shares during the last quarter. Pioneer Trust Bank N A OR raised its holdings in shares of Starbucks by 0.8% during the fourth quarter. Pioneer Trust Bank N A OR now owns 11,312 shares of the coffee company's stock worth $1,032,000 after acquiring an additional 92 shares during the period. Wintrust Investments LLC raised its holdings in shares of Starbucks by 7.1% during the fourth quarter. Wintrust Investments LLC now owns 1,411 shares of the coffee company's stock worth $128,000 after acquiring an additional 94 shares during the period. Gamco Investors INC. ET AL increased its stake in Starbucks by 3.5% in the 4th quarter. Gamco Investors INC. ET AL now owns 2,860 shares of the coffee company's stock valued at $261,000 after buying an additional 97 shares during the last quarter. Finally, Foster Dykema Cabot & Partners LLC increased its stake in Starbucks by 10.6% in the 4th quarter. Foster Dykema Cabot & Partners LLC now owns 1,014 shares of the coffee company's stock valued at $93,000 after buying an additional 97 shares during the last quarter. Institutional investors and hedge funds own 72.29% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Evercore ISI reiterated an "outperform" rating and issued a $105.00 price target (up from $95.00) on shares of Starbucks in a research note on Tuesday, June 24th. Baird R W downgraded shares of Starbucks from a "strong-buy" rating to a "hold" rating in a report on Monday, April 7th. Wall Street Zen downgraded shares of Starbucks from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Barclays reissued an "overweight" rating and issued a $108.00 price objective (up previously from $98.00) on shares of Starbucks in a report on Thursday, June 26th. Finally, TD Cowen reissued a "hold" rating and issued a $90.00 price objective on shares of Starbucks in a report on Thursday, May 29th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and fifteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $98.23.

Starbucks Stock Down 0.1%

NASDAQ SBUX opened at $95.15 on Friday. The stock has a fifty day simple moving average of $88.90 and a 200 day simple moving average of $94.46. Starbucks Corporation has a twelve month low of $71.55 and a twelve month high of $117.46. The company has a market capitalization of $108.13 billion, a price-to-earnings ratio of 34.47, a PEG ratio of 4.88 and a beta of 1.02.

Starbucks (NASDAQ:SBUX - Get Free Report) last announced its earnings results 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 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 the consensus estimate of $8.90 billion. During the same period in the prior year, the business earned $0.68 EPS. Starbucks's quarterly revenue was up 2.3% on a year-over-year basis. Research analysts expect 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.

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