Starbucks Corporation (NASDAQ:SBUX) Shares Purchased by St. Johns Investment Management Company LLC

St. Johns Investment Management Company LLC boosted its stake in Starbucks Corporation (NASDAQ:SBUX) by 4.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,142 shares of the coffee company’s stock after purchasing an additional 241 shares during the period. St. Johns Investment Management Company LLC’s holdings in Starbucks were worth $504,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in SBUX. Arizona State Retirement System grew its stake in shares of Starbucks by 0.8% during the fourth quarter. Arizona State Retirement System now owns 327,459 shares of the coffee company’s stock valued at $29,881,000 after acquiring an additional 2,722 shares in the last quarter. West Michigan Advisors LLC acquired a new stake in shares of Starbucks during the fourth quarter valued at about $265,000. Wernau Asset Management Inc. acquired a new stake in shares of Starbucks during the fourth quarter valued at about $258,000. Vanguard Capital Wealth Advisors acquired a new stake in shares of Starbucks during the fourth quarter valued at about $285,000. Finally, OFI Invest Asset Management acquired a new stake in shares of Starbucks during the fourth quarter valued at about $9,497,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SBUX has been the subject of several recent analyst reports. JPMorgan Chase & Co. lowered their target price on Starbucks from $105.00 to $100.00 and set an “overweight” rating for the company in a research note on Wednesday, April 30th. The Goldman Sachs Group restated a “neutral” rating and set a $95.00 target price (up from $85.00) on shares of Starbucks in a research note on Thursday, June 12th. Wells Fargo & Company lowered their target price on Starbucks from $125.00 to $100.00 and set an “overweight” rating for the company in a research note on Tuesday, April 22nd. Barclays lowered their target price on Starbucks from $106.00 to $98.00 and set an “overweight” rating for the company in a research note on Wednesday, April 30th. Finally, Cowen reaffirmed a “hold” rating on shares of Starbucks in a research report on Tuesday. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $98.96.

Starbucks Price Performance

NASDAQ:SBUX opened at $92.34 on Tuesday. Starbucks Corporation has a 12-month low of $71.55 and a 12-month high of $117.46. The firm has a market capitalization of $104.94 billion, a P/E ratio of 33.46, a P/E/G ratio of 4.74 and a beta of 1.00. The business has a 50 day simple moving average of $86.02 and a 200 day simple moving average of $94.48.

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

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.