Praxis Investment Management Inc. Has $2.57 Million Holdings in Starbucks Corporation (NASDAQ:SBUX)

Praxis Investment Management Inc. raised its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 15.0% in the first quarter, HoldingsChannel.com reports. The firm owned 26,202 shares of the coffee company’s stock after purchasing an additional 3,410 shares during the quarter. Praxis Investment Management Inc.’s holdings in Starbucks were worth $2,570,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. TrinityPoint Wealth LLC increased its stake in Starbucks by 2.7% in the 4th quarter. TrinityPoint Wealth LLC now owns 3,421 shares of the coffee company’s stock worth $312,000 after purchasing an additional 89 shares during the period. Pioneer Trust Bank N A OR increased its stake in Starbucks by 0.8% in the 4th quarter. Pioneer Trust Bank N A OR now owns 11,312 shares of the coffee company’s stock worth $1,032,000 after purchasing an additional 92 shares during the period. Wintrust Investments LLC increased its stake in Starbucks by 7.1% in the 4th quarter. Wintrust Investments LLC now owns 1,411 shares of the coffee company’s stock worth $128,000 after purchasing an additional 94 shares during the period. Gamco Investors INC. ET AL increased its stake in Starbucks by 3.5% in the 4th quarter. Gamco Investors INC. ET AL now owns 2,860 shares of the coffee company’s stock worth $261,000 after purchasing an additional 97 shares during the period. Finally, Foster Dykema Cabot & Partners LLC increased its stake in Starbucks by 10.6% in the 4th quarter. Foster Dykema Cabot & Partners LLC now owns 1,014 shares of the coffee company’s stock worth $93,000 after purchasing an additional 97 shares during the period. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Stock Up 0.9%

NASDAQ SBUX opened at $93.12 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 $105.82 billion, a PE ratio of 33.74, a P/E/G ratio of 4.70 and a beta of 1.00. The stock’s 50 day moving average is $85.88 and its 200 day moving average is $94.61.

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

Wall Street Analyst Weigh In

SBUX has been the topic of a number of analyst reports. Jefferies Financial Group raised Starbucks from an “underperform” rating to a “hold” rating and set a $76.00 price target on the stock in a research note on Wednesday, April 9th. UBS Group reduced their target price on Starbucks from $105.00 to $90.00 and set a “neutral” rating on the stock in a research note on Monday, April 28th. Argus raised Starbucks from a “hold” rating to a “buy” rating and set a $115.00 target price on the stock in a research note on Tuesday, March 18th. Royal Bank Of Canada boosted their target price on Starbucks from $95.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, June 11th. Finally, Baird R W cut Starbucks from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 7th. Three equities research 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 data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $98.96.

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.