Bender Robert & Associates Buys 1,177 Shares of Starbucks Corporation (NASDAQ:SBUX)

Bender Robert & Associates raised its position in Starbucks Corporation (NASDAQ:SBUX) by 2.7% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 45,583 shares of the coffee company’s stock after buying an additional 1,177 shares during the period. Starbucks comprises approximately 1.1% of Bender Robert & Associates’ holdings, making the stock its 21st largest holding. Bender Robert & Associates’ holdings in Starbucks were worth $4,471,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. University of Texas Texas AM Investment Management Co. bought a new position in Starbucks in the fourth quarter valued at about $25,000. Graney & King LLC acquired a new position in Starbucks during the 4th quarter valued at about $26,000. Runnymede Capital Advisors Inc. bought a new position in shares of Starbucks in the 4th quarter valued at about $27,000. Marshall Investment Management LLC acquired a new stake in shares of Starbucks during the 4th quarter worth approximately $30,000. Finally, Noble Wealth Management PBC bought a new stake in shares of Starbucks during the fourth quarter worth approximately $30,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on SBUX shares. UBS Group reduced their price objective on shares of Starbucks from $105.00 to $90.00 and set a “neutral” rating on the stock in a research note on Monday, April 28th. Wells Fargo & Company reduced their price target on Starbucks from $125.00 to $100.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 22nd. TD Securities reiterated a “hold” rating and issued a $90.00 price objective on shares of Starbucks in a report on Wednesday, June 11th. BMO Capital Markets cut their target price on Starbucks from $115.00 to $100.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 30th. Finally, Guggenheim decreased their target price on Starbucks from $95.00 to $83.00 and set a “neutral” rating for the company in a research report on Tuesday, April 29th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $98.96.

Starbucks Trading Down 2.0%

NASDAQ SBUX opened at $91.59 on Wednesday. Starbucks Corporation has a 12 month low of $71.55 and a 12 month high of $117.46. The stock has a 50 day moving average of $85.50 and a 200-day moving average of $94.75. The company has a market cap of $104.08 billion, a PE ratio of 33.18, a PEG ratio of 4.69 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results 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 the consensus estimate of $8.90 billion. During the same period last year, the company posted $0.68 earnings per share. The business’s revenue was up 2.3% compared to the same quarter last year. As a group, sell-side analysts predict that Starbucks Corporation will post 2.99 EPS 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.