Norris Perne & French LLP MI Has $419,000 Stock Position in Starbucks Corporation $SBUX

Norris Perne & French LLP MI increased its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 8.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,574 shares of the coffee company’s stock after buying an additional 374 shares during the period. Norris Perne & French LLP MI’s holdings in Starbucks were worth $419,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Starbucks by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 112,059,570 shares of the coffee company’s stock valued at $10,991,923,000 after buying an additional 953,361 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Starbucks by 22.3% in the first quarter. Wellington Management Group LLP now owns 19,414,472 shares of the coffee company’s stock valued at $1,904,366,000 after acquiring an additional 3,545,655 shares during the period. Nuveen LLC bought a new stake in shares of Starbucks in the first quarter valued at approximately $1,379,619,000. Goldman Sachs Group Inc. grew its stake in shares of Starbucks by 59.5% in the first 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 during the last quarter. Finally, Jennison Associates LLC bought a new position in Starbucks during the first quarter worth $817,759,000. Institutional investors own 72.29% of the company’s stock.

Starbucks Trading Down 0.5%

NASDAQ SBUX opened at $83.39 on Monday. Starbucks Corporation has a 1-year low of $75.50 and a 1-year high of $117.46. The company has a market capitalization of $94.79 billion, a price-to-earnings ratio of 35.94, a PEG ratio of 5.01 and a beta of 1.00. The stock’s 50 day moving average is $88.48 and its two-hundred day moving average is $88.92.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Tuesday, July 29th. The coffee company reported $0.50 EPS 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 company had revenue of $9.46 billion for the quarter, compared to the consensus estimate of $9.29 billion. During the same quarter last year, the business earned $0.93 EPS. Starbucks’s quarterly revenue was up 3.8% compared to the same quarter last year. On average, analysts predict that Starbucks Corporation will post 2.99 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on SBUX shares. 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. Robert W. Baird raised Starbucks from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $100.00 to $115.00 in a research report on Tuesday, August 12th. Piper Sandler set a $105.00 price target on Starbucks and gave the company an “overweight” rating in a research note on Wednesday, July 30th. Stifel Nicolaus raised their price objective on Starbucks from $92.00 to $105.00 and gave the stock a “buy” rating in a research report on Friday, July 11th. Finally, Sanford C. Bernstein boosted their price objective on Starbucks from $90.00 to $100.00 and gave the company an “outperform” rating in a research report on Wednesday, July 2nd. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.