Crew Capital Management Ltd. Increases Position in Starbucks Corporation $SBUX

Crew Capital Management Ltd. grew its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 211.3% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,940 shares of the coffee company’s stock after purchasing an additional 6,747 shares during the period. Crew Capital Management Ltd.’s holdings in Starbucks were worth $911,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Napa Wealth Management purchased a new position in shares of Starbucks in the first quarter valued at approximately $1,435,000. Czech National Bank lifted its holdings in Starbucks by 6.2% during the 1st quarter. Czech National Bank now owns 260,898 shares of the coffee company’s stock worth $25,591,000 after buying an additional 15,132 shares in the last quarter. Personal CFO Solutions LLC boosted its position in Starbucks by 125.5% in the 1st quarter. Personal CFO Solutions LLC now owns 9,254 shares of the coffee company’s stock valued at $908,000 after buying an additional 5,151 shares during the period. First Manhattan CO. LLC. grew its stake in shares of Starbucks by 33.1% in the first quarter. First Manhattan CO. LLC. now owns 446,294 shares of the coffee company’s stock worth $43,777,000 after acquiring an additional 111,015 shares in the last quarter. Finally, Fox Run Management L.L.C. purchased a new stake in shares of Starbucks during the first quarter worth $998,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Price Performance

Shares of NASDAQ:SBUX opened at $85.29 on Tuesday. The stock has a market cap of $96.95 billion, a P/E ratio of 36.76, a P/E/G ratio of 5.05 and a beta of 1.00. The firm has a fifty day moving average price of $89.17 and a 200 day moving average price of $89.33. Starbucks Corporation has a 1-year low of $75.50 and a 1-year high of $117.46.

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

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Citigroup decreased their target price on Starbucks from $100.00 to $99.00 and set a “neutral” rating for the company in a report on Wednesday, July 30th. TD Cowen lifted their price objective on Starbucks from $90.00 to $95.00 and gave the company a “hold” rating in a research note on Wednesday, July 30th. Sanford C. Bernstein boosted their price objective on Starbucks from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 2nd. Piper Sandler set a $105.00 target price on shares of Starbucks and gave the company an “overweight” rating in a report on Wednesday, July 30th. Finally, Loop Capital set a $165.00 price target on shares of Starbucks in a report on Tuesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Starbucks has an average rating of “Moderate Buy” and an average 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.