GPS Wealth Strategies Group LLC Acquires 1,940 Shares of Starbucks Co. (NASDAQ:SBUX)

GPS Wealth Strategies Group LLC raised its holdings in Starbucks Co. (NASDAQ:SBUX) by 83.2% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 4,273 shares of the coffee company’s stock after purchasing an additional 1,940 shares during the quarter. GPS Wealth Strategies Group LLC’s holdings in Starbucks were worth $419,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in SBUX. University of Texas Texas AM Investment Management Co. bought a new position in Starbucks during the fourth quarter worth $25,000. Graney & King LLC bought a new stake in shares of Starbucks during the 4th quarter worth about $26,000. Runnymede Capital Advisors Inc. acquired a new position in Starbucks in the 4th quarter valued at about $27,000. Marshall Investment Management LLC bought a new position in Starbucks in the 4th quarter valued at about $30,000. Finally, Noble Wealth Management PBC acquired a new stake in Starbucks during the fourth quarter worth approximately $30,000. 72.29% of the stock is currently owned by institutional investors.

Starbucks Trading Down 1.1%

Shares of Starbucks stock opened at $94.32 on Friday. The firm has a market capitalization of $107.19 billion, a PE ratio of 30.43, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00. The firm’s 50 day moving average is $84.89 and its 200 day moving average is $94.98. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $117.46.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, April 29th. The coffee company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.10). Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. The company had revenue of $8.76 billion for the quarter, compared to analyst estimates of $8.90 billion. During the same quarter last year, the company posted $0.68 earnings per share. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. As a group, research analysts anticipate that Starbucks Co. will post 2.99 earnings per share for the current year.

Analyst Ratings Changes

SBUX has been the topic of several research reports. Wells Fargo & Company decreased their target price on Starbucks from $125.00 to $100.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 22nd. Barclays decreased their price objective on Starbucks from $106.00 to $98.00 and set an “overweight” rating on the stock in a report on Wednesday, April 30th. Citigroup lifted their target price on Starbucks from $84.00 to $95.00 and gave the stock a “neutral” rating in a report on Thursday. Royal Bank of Canada upped their price target on shares of Starbucks from $95.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Robert W. Baird reiterated a “neutral” rating and issued a $85.00 price objective (down previously from $114.00) on shares of Starbucks in a research note on Monday, April 7th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $98.96.

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.