PBMares Wealth Management LLC Acquires New Position in Starbucks Corporation (NASDAQ:SBUX)

PBMares Wealth Management LLC acquired a new stake in shares of Starbucks Corporation (NASDAQ:SBUX) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 2,607 shares of the coffee company’s stock, valued at approximately $256,000.

Several other institutional investors and hedge funds have also recently modified their holdings of SBUX. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Starbucks in the fourth quarter valued at about $25,000. Graney & King LLC bought a new stake in shares of Starbucks in the 4th quarter valued at about $26,000. Runnymede Capital Advisors Inc. bought a new stake in shares of Starbucks in the 4th quarter valued at about $27,000. Noble Wealth Management PBC bought a new position in Starbucks in the fourth quarter worth approximately $30,000. Finally, Kapitalo Investimentos Ltda bought a new position in Starbucks in the fourth quarter worth approximately $32,000. Institutional investors own 72.29% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on SBUX shares. The Goldman Sachs Group reissued a “neutral” rating and issued a $95.00 price objective (up previously from $85.00) on shares of Starbucks in a research note on Thursday, June 12th. Wall Street Zen lowered Starbucks from a “hold” rating to a “sell” rating in a research report on Thursday, May 22nd. Jefferies Financial Group upgraded shares of Starbucks from an “underperform” rating to a “hold” rating and set a $76.00 target price for the company in a report on Wednesday, April 9th. Argus upgraded shares of Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price objective for the company in a research note on Tuesday, March 18th. Finally, Robert W. Baird reaffirmed a “neutral” rating and set a $85.00 price target (down from $114.00) on shares of Starbucks in a research report on Monday, April 7th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Starbucks currently has a consensus rating of “Hold” and an average price target of $98.96.

Starbucks Stock Performance

Shares of SBUX stock opened at $92.34 on Tuesday. The stock’s 50-day simple moving average is $86.02 and its 200-day simple moving average is $94.48. The firm has a market capitalization of $104.94 billion, a PE ratio of 33.46, a P/E/G ratio of 4.74 and a beta of 1.00. Starbucks Corporation has a fifty-two week low of $71.55 and a fifty-two week high of $117.46.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, April 29th. The coffee company reported $0.41 earnings per share 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 business had revenue of $8.76 billion during the quarter, compared to analyst estimates of $8.90 billion. During the same quarter last year, the company posted $0.68 EPS. Starbucks’s quarterly revenue was up 2.3% compared to the same quarter last year. Sell-side analysts forecast that Starbucks Corporation will post 2.99 earnings per share for the current 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.