Archford Capital Strategies LLC Grows Stock Position in Starbucks Corporation $SBUX

Archford Capital Strategies LLC increased its stake in shares of Starbucks Corporation (NASDAQ:SBUX) by 37.0% in the 2nd quarter, HoldingsChannel reports. The firm owned 2,814 shares of the coffee company’s stock after purchasing an additional 760 shares during the period. Archford Capital Strategies LLC’s holdings in Starbucks were worth $258,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Brown Lisle Cummings Inc. raised its holdings in shares of Starbucks by 1.4% in the 2nd quarter. Brown Lisle Cummings Inc. now owns 8,293 shares of the coffee company’s stock valued at $760,000 after purchasing an additional 117 shares in the last quarter. Benin Management CORP raised its stake in Starbucks by 0.7% in the first quarter. Benin Management CORP now owns 16,575 shares of the coffee company’s stock valued at $1,626,000 after buying an additional 120 shares in the last quarter. Ted Buchan & Co lifted its holdings in Starbucks by 1.5% during the 1st quarter. Ted Buchan & Co now owns 8,066 shares of the coffee company’s stock worth $791,000 after buying an additional 120 shares during the last quarter. Alexander Labrunerie & CO. Inc. boosted its position in shares of Starbucks by 3.5% during the 1st quarter. Alexander Labrunerie & CO. Inc. now owns 3,561 shares of the coffee company’s stock worth $349,000 after acquiring an additional 122 shares in the last quarter. Finally, Private Wealth Management Group LLC increased its holdings in shares of Starbucks by 13.3% in the 1st quarter. Private Wealth Management Group LLC now owns 1,056 shares of the coffee company’s stock valued at $104,000 after acquiring an additional 124 shares during the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Price Performance

SBUX opened at $85.64 on Tuesday. The business has a 50 day simple moving average of $88.34 and a 200-day simple moving average of $88.83. The stock has a market capitalization of $97.35 billion, a P/E ratio of 36.91, a P/E/G ratio of 5.01 and a beta of 1.00. Starbucks Corporation has a 12 month low of $75.50 and a 12 month high of $117.46.

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

Analysts Set New Price Targets

Several brokerages have commented on SBUX. Cowen reiterated a “hold” rating on shares of Starbucks in a research note on Tuesday, June 24th. Stifel Nicolaus boosted their target price on Starbucks from $92.00 to $105.00 and gave the company a “buy” rating in a report on Friday, July 11th. Baird R W raised Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 12th. Citigroup decreased their price target on shares of Starbucks from $100.00 to $99.00 and set a “neutral” rating for the company in a research note on Wednesday, July 30th. Finally, Morgan Stanley restated an “overweight” rating and issued a $103.00 price target (up previously from $95.00) on shares of Starbucks in a research report on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $104.00.

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.