City Holding Co. Has $2.91 Million Stake in Starbucks Corporation $SBUX

City Holding Co. boosted its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 7.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 31,779 shares of the coffee company’s stock after buying an additional 2,145 shares during the quarter. City Holding Co.’s holdings in Starbucks were worth $2,912,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Hughes Financial Services LLC bought a new stake in shares of Starbucks during the 1st quarter worth $27,000. CBIZ Investment Advisory Services LLC boosted its holdings in shares of Starbucks by 125.2% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company’s stock worth $28,000 after buying an additional 159 shares during the period. McClarren Financial Advisors Inc. bought a new stake in shares of Starbucks during the 1st quarter worth $29,000. Nova Wealth Management Inc. boosted its holdings in shares of Starbucks by 285.4% during the 1st quarter. Nova Wealth Management Inc. now owns 316 shares of the coffee company’s stock worth $31,000 after buying an additional 234 shares during the period. Finally, Activest Wealth Management boosted its holdings in shares of Starbucks by 78.0% during the 1st quarter. Activest Wealth Management now owns 331 shares of the coffee company’s stock worth $32,000 after buying an additional 145 shares during the period. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Stock Performance

Shares of NASDAQ SBUX opened at $83.39 on Friday. The stock has a market cap of $94.79 billion, a P/E ratio of 35.94, a P/E/G ratio of 4.98 and a beta of 1.00. The firm has a 50 day moving average price of $88.48 and a 200 day moving average price of $88.97. Starbucks Corporation has a 52-week low of $75.50 and a 52-week high of $117.46.

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

Analysts Set New Price Targets

Several research firms have issued reports on SBUX. TD Cowen restated a “hold” rating and issued a $95.00 price target on shares of Starbucks in a research report on Thursday. BMO Capital Markets reaffirmed an “outperform” rating and set a $115.00 price objective (up from $100.00) on shares of Starbucks in a report on Wednesday, July 30th. Baird R W raised shares of Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 12th. Cowen reissued a “hold” rating on shares of Starbucks in a report on Tuesday, June 24th. Finally, Jefferies Financial Group downgraded shares of Starbucks from a “hold” rating to an “underperform” rating and set a $76.00 price target for the company. in a report on Thursday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $104.40.

Starbucks 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.