LaFleur & Godfrey LLC Makes New Investment in Starbucks Corporation (NASDAQ:SBUX)

LaFleur & Godfrey LLC bought a new position in shares of Starbucks Corporation (NASDAQ:SBUX) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 14,403 shares of the coffee company’s stock, valued at approximately $1,413,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Brighton Jones LLC raised its holdings in shares of Starbucks by 86.5% in the 4th quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company’s stock valued at $16,126,000 after purchasing an additional 81,952 shares in the last quarter. Sigma Planning Corp raised its holdings in shares of Starbucks by 5.0% in the 4th quarter. Sigma Planning Corp now owns 21,341 shares of the coffee company’s stock valued at $1,947,000 after purchasing an additional 1,018 shares in the last quarter. Wealthspire Advisors LLC raised its holdings in shares of Starbucks by 1.2% in the 4th quarter. Wealthspire Advisors LLC now owns 42,717 shares of the coffee company’s stock valued at $3,898,000 after purchasing an additional 516 shares in the last quarter. World Equity Group Inc. raised its holdings in shares of Starbucks by 105.5% in the 4th quarter. World Equity Group Inc. now owns 4,700 shares of the coffee company’s stock valued at $429,000 after purchasing an additional 2,413 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Starbucks in the 4th quarter valued at $389,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on SBUX shares. Guggenheim reduced their price objective on shares of Starbucks from $95.00 to $83.00 and set a “neutral” rating on the stock in a report on Tuesday, April 29th. Cowen reaffirmed a “hold” rating on shares of Starbucks in a research report on Tuesday. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $95.00 target price (up from $85.00) on shares of Starbucks in a research report on Thursday, June 12th. Citigroup increased their target price on shares of Starbucks from $84.00 to $95.00 and gave the company a “neutral” rating in a research report on Thursday, June 12th. Finally, Wells Fargo & Company dropped their target price on shares of Starbucks from $125.00 to $100.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 22nd. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $98.96.

Starbucks Stock Performance

SBUX stock opened at $92.34 on Tuesday. Starbucks Corporation has a one year low of $71.55 and a one year high of $117.46. The stock has a market capitalization of $104.94 billion, a PE ratio of 33.46, a price-to-earnings-growth ratio of 4.74 and a beta of 1.00. The company has a fifty day moving average of $86.02 and a 200-day moving average of $94.48.

Starbucks (NASDAQ:SBUX) last released its earnings results on Tuesday, April 29th. The coffee company reported $0.41 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 during the quarter, compared to analyst estimates of $8.90 billion. During the same quarter last year, the business posted $0.68 EPS. The firm’s revenue was up 2.3% on a year-over-year basis. Equities analysts forecast that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

About Starbucks

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.