Hartford Investment Management Co. Has $6.28 Million Stock Position in Starbucks Corporation $SBUX

Hartford Investment Management Co. lowered its stake in Starbucks Corporation (NASDAQ:SBUX) by 1.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 68,549 shares of the coffee company’s stock after selling 781 shares during the quarter. Hartford Investment Management Co.’s holdings in Starbucks were worth $6,281,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Hughes Financial Services LLC acquired a new stake in shares of Starbucks in the first quarter valued at about $27,000. CBIZ Investment Advisory Services LLC increased its position in shares of Starbucks by 125.2% in the first quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company’s stock valued at $28,000 after acquiring an additional 159 shares during the last quarter. McClarren Financial Advisors Inc. acquired a new stake in shares of Starbucks in the first quarter valued at about $29,000. Nova Wealth Management Inc. increased its position in shares of Starbucks by 285.4% in the first quarter. Nova Wealth Management Inc. now owns 316 shares of the coffee company’s stock valued at $31,000 after acquiring an additional 234 shares during the last quarter. Finally, Activest Wealth Management increased its position in Starbucks by 78.0% during the first quarter. Activest Wealth Management now owns 331 shares of the coffee company’s stock worth $32,000 after buying an additional 145 shares during the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on SBUX. Cowen reissued a “hold” rating on shares of Starbucks in a research report on Tuesday, June 24th. Bank of America boosted their price target on Starbucks from $101.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, July 18th. Robert W. Baird raised Starbucks from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $100.00 to $115.00 in a research report on Tuesday, August 12th. Wells Fargo & Company boosted their price target on Starbucks from $100.00 to $105.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 30th. Finally, BMO Capital Markets reissued an “outperform” rating and set a $115.00 price target (up previously from $100.00) on shares of Starbucks in a research report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $104.40.

Starbucks Stock Down 0.5%

Shares of NASDAQ:SBUX opened at $83.83 on Friday. Starbucks Corporation has a 12-month low of $75.50 and a 12-month high of $117.46. The stock has a market cap of $95.29 billion, a PE ratio of 36.13, a P/E/G ratio of 5.04 and a beta of 1.00. The business has a 50 day moving average of $88.68 and a 200-day moving average of $89.15.

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