Starbucks Corporation $SBUX Shares Bought by Patron Partners LLC

Patron Partners LLC raised its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 3.4% in the 2nd quarter, HoldingsChannel reports. The fund owned 10,967 shares of the coffee company’s stock after buying an additional 359 shares during the quarter. Patron Partners LLC’s holdings in Starbucks were worth $1,005,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in SBUX. Hughes Financial Services LLC purchased a new stake in Starbucks in the first quarter valued at $27,000. CBIZ Investment Advisory Services LLC increased its position in shares of Starbucks by 125.2% during the first quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company’s stock worth $28,000 after purchasing an additional 159 shares in the last quarter. McClarren Financial Advisors Inc. purchased a new stake in shares of Starbucks in the 1st quarter valued at about $29,000. Nova Wealth Management Inc. boosted its position in shares of Starbucks by 285.4% in the 1st quarter. Nova Wealth Management Inc. now owns 316 shares of the coffee company’s stock valued at $31,000 after purchasing an additional 234 shares during the period. Finally, Activest Wealth Management boosted its position in shares of Starbucks by 78.0% in the 1st quarter. Activest Wealth Management now owns 331 shares of the coffee company’s stock valued at $32,000 after purchasing an additional 145 shares during the period. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Stock Performance

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

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

Wall Street Analysts Forecast Growth

SBUX has been the subject of a number of research reports. Evercore ISI reiterated an “outperform” rating and issued a $105.00 price objective (up previously from $95.00) on shares of Starbucks in a research note on Tuesday, June 24th. TD Securities reaffirmed a “hold” rating and issued a $90.00 target price on shares of Starbucks in a report on Monday, June 23rd. Morgan Stanley reiterated an “overweight” rating and set a $103.00 price target (up previously from $95.00) on shares of Starbucks in a research note on Wednesday, July 30th. Cowen reissued a “hold” rating on shares of Starbucks in a research report on Tuesday, June 24th. Finally, UBS Group upped their target price on shares of Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $104.40.

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.