LS Investment Advisors LLC Purchases New Holdings in Starbucks Corporation $SBUX

LS Investment Advisors LLC purchased a new stake in shares of Starbucks Corporation (NASDAQ:SBUX) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 2,785 shares of the coffee company’s stock, valued at approximately $255,000.

Several other hedge funds also recently added to or reduced their stakes in SBUX. Nuveen LLC bought a new position in Starbucks during the 1st quarter valued at about $1,379,619,000. Jennison Associates LLC bought a new position in Starbucks during the 1st quarter valued at about $817,759,000. Polen Capital Management LLC bought a new position in Starbucks in the 1st quarter worth about $503,539,000. Goldman Sachs Group Inc. grew its stake in Starbucks by 59.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 9,623,282 shares of the coffee company’s stock worth $943,948,000 after acquiring an additional 3,589,537 shares in the last quarter. Finally, Wellington Management Group LLP grew its stake in Starbucks by 22.3% in the 1st quarter. Wellington Management Group LLP now owns 19,414,472 shares of the coffee company’s stock worth $1,904,366,000 after acquiring an additional 3,545,655 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors.

Starbucks Stock Performance

Shares of SBUX opened at $83.83 on Friday. The company has a 50 day moving average price of $88.68 and a 200-day moving average price of $89.15. Starbucks Corporation has a fifty-two week low of $75.50 and a fifty-two week high of $117.46. The stock has a market capitalization of $95.29 billion, a PE ratio of 36.13, a PEG ratio of 5.04 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, July 29th. The coffee company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.14). Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%.The business had revenue of $9.46 billion during the quarter, compared to analysts’ expectations of $9.29 billion. During the same period in the previous year, the company posted $0.93 EPS. Starbucks’s revenue for the quarter was up 3.8% on a year-over-year basis. Equities research analysts forecast that Starbucks Corporation will post 2.99 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have commented on SBUX. Citigroup dropped their target price on shares of Starbucks from $100.00 to $99.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 30th. Piper Sandler set a $105.00 target price on shares of Starbucks and gave the stock an “overweight” rating in a research note on Wednesday, July 30th. JPMorgan Chase & Co. upped their target price on shares of Starbucks from $100.00 to $105.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 30th. Royal Bank Of Canada upped their target price on shares of Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 30th. Finally, Wells Fargo & Company upped their target price on shares of Starbucks from $100.00 to $105.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $104.40.

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.