Alley Investment Management Company LLC Raises Stock Holdings in Starbucks Corporation (NASDAQ:SBUX)

Alley Investment Management Company LLC boosted its stake in shares of Starbucks Corporation (NASDAQ:SBUX) by 2.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 150,210 shares of the coffee company’s stock after purchasing an additional 3,149 shares during the quarter. Starbucks comprises 1.8% of Alley Investment Management Company LLC’s holdings, making the stock its 22nd largest holding. Alley Investment Management Company LLC’s holdings in Starbucks were worth $14,734,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SBUX. TrinityPoint Wealth LLC grew its position in Starbucks by 2.7% during the fourth quarter. TrinityPoint Wealth LLC now owns 3,421 shares of the coffee company’s stock worth $312,000 after buying an additional 89 shares during the period. Pioneer Trust Bank N A OR grew its holdings in shares of 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 acquiring 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 valued at $128,000 after purchasing an additional 94 shares in the last quarter. Gamco Investors INC. ET AL raised its holdings in Starbucks by 3.5% during the fourth 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 last quarter. Finally, Foster Dykema Cabot & Partners LLC boosted its position in Starbucks by 10.6% during the fourth 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 in the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Stock Performance

Shares of SBUX traded down $0.20 during trading hours on Wednesday, hitting $94.72. The stock had a trading volume of 386,934 shares, compared to its average volume of 10,613,243. The firm has a market cap of $107.64 billion, a P/E ratio of 34.31, a P/E/G ratio of 4.69 and a beta of 1.02. The company’s fifty day simple moving average is $87.28 and its 200 day simple moving average is $94.26. Starbucks Corporation has a 12-month low of $71.55 and a 12-month high of $117.46.

Starbucks (NASDAQ:SBUX) last issued its earnings results 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). The firm had revenue of $8.76 billion for the quarter, compared to analysts’ expectations of $8.90 billion. Starbucks had a negative return on equity of 42.14% and a net margin of 8.61%. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.68 EPS. As a group, sell-side analysts predict that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on SBUX shares. Guggenheim dropped their price target on Starbucks from $95.00 to $83.00 and set a “neutral” rating for the company in a research report on Tuesday, April 29th. Wall Street Zen downgraded shares of Starbucks from a “hold” rating to a “sell” rating in a report on Thursday, May 22nd. Barclays reaffirmed an “overweight” rating and issued a $108.00 price target (up previously from $98.00) on shares of Starbucks in a report on Thursday, June 26th. Baird R W downgraded Starbucks from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 7th. Finally, JPMorgan Chase & Co. reduced their target price on Starbucks from $105.00 to $100.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 30th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Starbucks currently has a consensus rating of “Hold” and an average target price of $98.81.

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.