Blue Trust Inc. Raises Stake in Starbucks Corporation (NASDAQ:SBUX)

Blue Trust Inc. increased its stake in shares of Starbucks Corporation (NASDAQ:SBUX) by 6.3% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 13,256 shares of the coffee company’s stock after buying an additional 781 shares during the quarter. Blue Trust Inc.’s holdings in Starbucks were worth $1,300,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in SBUX. 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 stake in shares of Starbucks in the 4th quarter worth approximately $26,000. Runnymede Capital Advisors Inc. bought a new stake in shares of Starbucks in the 4th quarter worth approximately $27,000. Marshall Investment Management LLC purchased a new position in Starbucks in the fourth quarter valued at approximately $30,000. Finally, Noble Wealth Management PBC purchased a new position in Starbucks in the fourth quarter valued at approximately $30,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Stock Performance

NASDAQ:SBUX opened at $92.28 on Friday. Starbucks Corporation has a 52-week low of $71.55 and a 52-week high of $117.46. The stock has a fifty day moving average of $85.73 and a 200 day moving average of $94.67. The firm has a market capitalization of $104.87 billion, a price-to-earnings ratio of 33.43, a P/E/G ratio of 4.70 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) 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 analysts’ expectations of $8.90 billion. Starbucks had a negative return on equity of 42.14% and a net margin of 8.61%. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.68 EPS. Equities analysts forecast that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SBUX has been the subject of a number of recent research reports. Wall Street Zen downgraded Starbucks from a “hold” rating to a “sell” rating in a research report on Thursday, May 22nd. Cowen downgraded Starbucks from a “buy” rating to a “hold” rating in a research note on Thursday, May 29th. Citigroup lifted their price objective on Starbucks from $84.00 to $95.00 and gave the stock a “neutral” rating in a report on Thursday, June 12th. Robert W. Baird restated a “neutral” rating and issued a $85.00 price objective (down from $114.00) on shares of Starbucks in a research note on Monday, April 7th. Finally, Guggenheim cut their target price on shares of Starbucks from $95.00 to $83.00 and set a “neutral” rating for the company in a research report on Tuesday, April 29th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $98.96.

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.