Starbucks Corporation (NASDAQ:SBUX) Shares Purchased by CWA Asset Management Group LLC

CWA Asset Management Group LLC grew its stake in shares of Starbucks Corporation (NASDAQ:SBUX) by 93.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,378 shares of the coffee company’s stock after purchasing an additional 7,449 shares during the quarter. CWA Asset Management Group LLC’s holdings in Starbucks were worth $1,508,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in Starbucks during the 4th quarter worth $1,244,812,000. Capital World Investors grew its holdings in shares of Starbucks by 20.1% during the fourth quarter. Capital World Investors now owns 54,924,230 shares of the coffee company’s stock worth $5,011,796,000 after purchasing an additional 9,174,682 shares during the last quarter. FMR LLC increased its position in shares of Starbucks by 27.0% during the fourth quarter. FMR LLC now owns 25,128,649 shares of the coffee company’s stock worth $2,292,989,000 after purchasing an additional 5,348,790 shares in the last quarter. Capital Research Global Investors increased its position in shares of Starbucks by 167.6% during the fourth quarter. Capital Research Global Investors now owns 5,690,198 shares of the coffee company’s stock worth $519,230,000 after purchasing an additional 3,563,942 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Starbucks in the 4th quarter valued at about $284,283,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on SBUX. Barclays cut their price target on Starbucks from $106.00 to $98.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 30th. Baird R W cut shares of Starbucks from a “strong-buy” rating to a “hold” rating in a report on Monday, April 7th. 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 report on Wednesday, June 11th. Wells Fargo & Company lowered their price objective on shares of Starbucks from $125.00 to $100.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 22nd. Finally, TD Cowen restated a “hold” rating and issued a $90.00 price objective on shares of Starbucks in a research note on Thursday, May 29th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $98.96.

Starbucks Stock Performance

SBUX stock opened at $92.28 on Friday. The stock’s 50 day moving average price is $85.73 and its 200 day moving average price is $94.67. The firm has a market cap of $104.87 billion, a P/E ratio of 33.43, a PEG ratio of 4.70 and a beta of 1.00. Starbucks Corporation has a 1 year low of $71.55 and a 1 year high of $117.46.

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). The company had revenue of $8.76 billion during the quarter, compared to analyst estimates of $8.90 billion. Starbucks had a negative return on equity of 42.14% and a net margin of 8.61%. The business’s revenue was up 2.3% compared to the same quarter last year. During the same period last year, the firm earned $0.68 earnings per share. On average, research analysts predict that Starbucks Corporation will post 2.99 earnings per share for the current year.

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.