Oppenheimer Asset Management Inc. Has $29.55 Million Holdings in Starbucks Corporation (NASDAQ:SBUX)

Oppenheimer Asset Management Inc. boosted its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 44.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 301,291 shares of the coffee company’s stock after buying an additional 93,161 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Starbucks were worth $29,554,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. University of Texas Texas AM Investment Management Co. acquired a new position in Starbucks during the fourth quarter worth approximately $25,000. Graney & King LLC acquired a new position in Starbucks during the fourth quarter worth approximately $26,000. Runnymede Capital Advisors Inc. acquired a new position in Starbucks during the fourth quarter worth approximately $27,000. Marshall Investment Management LLC acquired a new position in Starbucks during the fourth quarter worth approximately $30,000. Finally, Noble Wealth Management PBC acquired a new position in Starbucks during the fourth quarter worth approximately $30,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on SBUX shares. TD Cowen reaffirmed a “hold” rating and issued a $90.00 target price on shares of Starbucks in a research report on Thursday, May 29th. JPMorgan Chase & Co. cut their price target on Starbucks from $105.00 to $100.00 and set an “overweight” rating for the company in a research note on Wednesday, April 30th. Royal Bank Of Canada boosted their price target on Starbucks from $95.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, June 11th. Citigroup boosted their price target on Starbucks from $84.00 to $95.00 and gave the company a “neutral” rating in a research note on Thursday, June 12th. Finally, Wells Fargo & Company cut their price target on Starbucks from $125.00 to $100.00 and set an “overweight” rating for the company in a research note on Tuesday, April 22nd. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $98.96.

Starbucks Stock Performance

Shares of SBUX opened at $93.12 on Monday. Starbucks Corporation has a 52 week low of $71.55 and a 52 week high of $117.46. The stock has a market capitalization of $105.82 billion, a price-to-earnings ratio of 33.74, a PEG ratio of 4.74 and a beta of 1.00. The stock has a fifty day moving average of $85.88 and a 200-day moving average of $94.54.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, April 29th. The coffee company reported $0.41 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 firm had revenue of $8.76 billion during the quarter, compared to the consensus estimate of $8.90 billion. During the same quarter in the previous year, the company posted $0.68 earnings per share. The firm’s revenue was up 2.3% on a year-over-year basis. As a group, equities analysts forecast 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.