Starbucks Corporation (NASDAQ:SBUX) Shares Acquired by Family Legacy Inc.

Family Legacy Inc. lifted its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 0.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 31,081 shares of the coffee company’s stock after buying an additional 211 shares during the period. Family Legacy Inc.’s holdings in Starbucks were worth $3,049,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Brighton Jones LLC raised its holdings in Starbucks by 86.5% during the fourth quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company’s stock worth $16,126,000 after purchasing an additional 81,952 shares in the last quarter. Sigma Planning Corp raised its holdings in Starbucks by 5.0% during the fourth quarter. Sigma Planning Corp now owns 21,341 shares of the coffee company’s stock worth $1,947,000 after purchasing an additional 1,018 shares in the last quarter. Wealthspire Advisors LLC raised its holdings in Starbucks by 1.2% during the fourth quarter. Wealthspire Advisors LLC now owns 42,717 shares of the coffee company’s stock worth $3,898,000 after purchasing an additional 516 shares in the last quarter. World Equity Group Inc. raised its holdings in Starbucks by 105.5% during the fourth quarter. World Equity Group Inc. now owns 4,700 shares of the coffee company’s stock worth $429,000 after purchasing an additional 2,413 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new position in Starbucks during the fourth quarter worth about $389,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on SBUX shares. Cowen reissued a “hold” rating on shares of Starbucks in a report on Tuesday. Royal Bank Of Canada increased their target price on shares of Starbucks from $95.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, June 11th. Citigroup increased their target price on shares of Starbucks from $84.00 to $95.00 and gave the company a “neutral” rating in a report on Thursday, June 12th. TD Cowen reaffirmed a “hold” rating and issued a $90.00 target price on shares of Starbucks in a report on Thursday, May 29th. Finally, Wells Fargo & Company dropped their target price on shares of Starbucks from $125.00 to $100.00 and set an “overweight” rating for the company in a report on Tuesday, April 22nd. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $98.96.

Starbucks Stock Performance

Shares of NASDAQ SBUX opened at $92.34 on Tuesday. Starbucks Corporation has a 1 year low of $71.55 and a 1 year high of $117.46. The firm’s 50 day moving average price is $86.02 and its 200 day moving average price is $94.48. The firm has a market cap of $104.94 billion, a P/E ratio of 33.46, a price-to-earnings-growth ratio of 4.74 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Tuesday, April 29th. The coffee company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.10). Starbucks had a negative return on equity of 42.14% and a net margin of 8.61%. The firm had revenue of $8.76 billion for the quarter, compared to analyst estimates of $8.90 billion. During the same quarter last year, the business posted $0.68 EPS. The firm’s revenue was up 2.3% compared to the same quarter last year. As a group, equities analysts predict that Starbucks Corporation will post 2.99 EPS for the current year.

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.