Ballentine Partners LLC Raises Stock Holdings in Starbucks Corporation (NASDAQ:SBUX)

Ballentine Partners LLC lifted its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 12.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,462 shares of the coffee company’s stock after acquiring an additional 2,193 shares during the quarter. Ballentine Partners LLC’s holdings in Starbucks were worth $1,909,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of SBUX. TrinityPoint Wealth LLC boosted its holdings in Starbucks by 2.7% in the fourth quarter. TrinityPoint Wealth LLC now owns 3,421 shares of the coffee company’s stock valued at $312,000 after purchasing an additional 89 shares during the last quarter. Pioneer Trust Bank N A OR boosted its holdings in Starbucks by 0.8% in the fourth quarter. Pioneer Trust Bank N A OR now owns 11,312 shares of the coffee company’s stock valued at $1,032,000 after purchasing an additional 92 shares during the last quarter. Gamco Investors INC. ET AL boosted its holdings in Starbucks by 3.5% in the fourth quarter. Gamco Investors INC. ET AL now owns 2,860 shares of the coffee company’s stock valued at $261,000 after purchasing an additional 97 shares during the last quarter. Foster Dykema Cabot & Partners LLC boosted its stake in shares of Starbucks by 10.6% during the 4th quarter. Foster Dykema Cabot & Partners LLC now owns 1,014 shares of the coffee company’s stock worth $93,000 after acquiring an additional 97 shares in the last quarter. Finally, Wellington Shields & Co. LLC boosted its stake in shares of Starbucks by 8.6% during the 4th quarter. Wellington Shields & Co. LLC now owns 1,265 shares of the coffee company’s stock worth $115,000 after acquiring an additional 100 shares in the last quarter. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Price Performance

Starbucks stock opened at $94.94 on Friday. The firm has a 50 day simple moving average of $89.10 and a 200-day simple moving average of $94.52. Starbucks Corporation has a 1-year low of $71.55 and a 1-year high of $117.46. The stock has a market cap of $107.89 billion, a price-to-earnings ratio of 34.40, a price-to-earnings-growth ratio of 4.86 and a beta of 1.02.

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

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Wall Street Zen lowered shares of Starbucks from a “hold” rating to a “sell” rating in a research note on Thursday, May 22nd. JPMorgan Chase & Co. lowered their target price on shares of Starbucks from $105.00 to $100.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 30th. Barclays reissued an “overweight” rating and set a $108.00 target price (up from $98.00) on shares of Starbucks in a research note on Thursday, June 26th. TD Securities reissued a “hold” rating and set a $90.00 target price on shares of Starbucks in a research note on Monday, June 23rd. Finally, Sanford C. Bernstein increased their target price on shares of Starbucks from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 2nd. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $98.73.

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.