Perennial Advisors LLC Has $4.94 Million Stock Holdings in Starbucks Corporation $SBUX

Perennial Advisors LLC grew its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 1.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 53,919 shares of the coffee company’s stock after buying an additional 921 shares during the quarter. Perennial Advisors LLC’s holdings in Starbucks were worth $4,941,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in SBUX. Vanguard Group Inc. raised its stake in shares of Starbucks by 0.9% in the first quarter. Vanguard Group Inc. now owns 112,059,570 shares of the coffee company’s stock worth $10,991,923,000 after purchasing an additional 953,361 shares during the last quarter. Wellington Management Group LLP raised its position in Starbucks by 22.3% in the 1st quarter. Wellington Management Group LLP now owns 19,414,472 shares of the coffee company’s stock valued at $1,904,366,000 after buying an additional 3,545,655 shares during the last quarter. Nuveen LLC bought a new position in Starbucks during the 1st quarter valued at $1,379,619,000. Goldman Sachs Group Inc. boosted its holdings in Starbucks by 59.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 9,623,282 shares of the coffee company’s stock worth $943,948,000 after acquiring an additional 3,589,537 shares during the last quarter. Finally, Jennison Associates LLC purchased a new position in Starbucks during the 1st quarter worth $817,759,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Trading Down 1.7%

Shares of NASDAQ SBUX opened at $84.27 on Thursday. The stock has a fifty day simple moving average of $88.87 and a two-hundred day simple moving average of $89.27. Starbucks Corporation has a 1-year low of $75.50 and a 1-year high of $117.46. The firm has a market cap of $95.79 billion, a price-to-earnings ratio of 36.32, a price-to-earnings-growth ratio of 5.12 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, July 29th. The coffee company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.14). The firm had revenue of $9.46 billion for the quarter, compared to analysts’ expectations of $9.29 billion. Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.93 EPS. Analysts forecast that Starbucks Corporation will post 2.99 EPS for the current year.

Analyst Ratings Changes

SBUX has been the topic of several analyst reports. CICC Research began coverage on shares of Starbucks in a report on Monday, June 30th. They set an “outperform” rating and a $100.00 price target on the stock. Morgan Stanley reissued an “overweight” rating and set a $103.00 target price (up previously from $95.00) on shares of Starbucks in a research report on Wednesday, July 30th. Loop Capital set a $165.00 target price on Starbucks in a report on Tuesday, August 12th. Barclays lifted their price target on Starbucks from $106.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, July 30th. Finally, TD Securities restated a “hold” rating and issued a $90.00 price objective on shares of Starbucks in a research note on Monday, June 23rd. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $104.40.

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.