Good Steward Wealth Advisors LLC Takes Position in Starbucks Corporation (NASDAQ:SBUX)

Good Steward Wealth Advisors LLC purchased a new position in shares of Starbucks Corporation (NASDAQ:SBUX) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 3,183 shares of the coffee company’s stock, valued at approximately $312,000.

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

Starbucks Trading Up 0.8%

Shares of SBUX opened at $92.28 on Friday. Starbucks Corporation has a twelve month low of $71.55 and a twelve month high of $117.46. The firm has a market capitalization of $104.87 billion, a P/E ratio of 33.43, a PEG ratio of 4.70 and a beta of 1.00. The firm’s 50-day moving average is $85.73 and its two-hundred day moving average is $94.67.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Tuesday, April 29th. The coffee company reported $0.41 earnings per share 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 during the quarter, compared to analyst estimates of $8.90 billion. During the same quarter in the prior year, the company earned $0.68 EPS. The business’s revenue was up 2.3% on a year-over-year basis. Analysts predict that Starbucks Corporation will post 2.99 EPS for the current year.

Analyst Ratings Changes

SBUX has been the topic of a number of research reports. Citigroup raised their target price on shares of Starbucks from $84.00 to $95.00 and gave the stock a “neutral” rating in a research report on Thursday, June 12th. BMO Capital Markets lowered their price objective on shares of Starbucks from $115.00 to $100.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 30th. Guggenheim reduced their target price on shares of Starbucks from $95.00 to $83.00 and set a “neutral” rating for the company in a report on Tuesday, April 29th. Wells Fargo & Company decreased their target price on shares of Starbucks from $125.00 to $100.00 and set an “overweight” rating for the company in a research note on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. dropped their price target on Starbucks from $105.00 to $100.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 30th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $98.96.

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.