Hughes Financial Services LLC Purchases New Position in Starbucks Corporation (NASDAQ:SBUX)

Hughes Financial Services LLC purchased a new position in shares of Starbucks Corporation (NASDAQ:SBUX) during the first quarter, HoldingsChannel.com reports. The fund purchased 273 shares of the coffee company’s stock, valued at approximately $27,000.

Several other hedge funds have also recently made changes to their positions in SBUX. University of Texas Texas AM Investment Management Co. purchased a new stake in Starbucks in the fourth quarter valued at $25,000. Graney & King LLC purchased a new stake in Starbucks in the fourth quarter valued at $26,000. Runnymede Capital Advisors Inc. purchased a new stake in shares of Starbucks during the 4th quarter worth about $27,000. Kapitalo Investimentos Ltda purchased a new stake in shares of Starbucks during the 4th quarter worth about $32,000. Finally, Ball & Co Wealth Management Inc. purchased a new stake in shares of Starbucks during the 4th quarter worth about $41,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on SBUX shares. Robert W. Baird reissued a “neutral” rating and set a $85.00 target price (down from $114.00) on shares of Starbucks in a research note on Monday, April 7th. Wells Fargo & Company lowered their target price on shares of Starbucks from $125.00 to $100.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 22nd. CICC Research started coverage on shares of Starbucks in a research note on Monday, June 30th. They set an “outperform” rating and a $100.00 target price on the stock. Citigroup increased their target price on shares of Starbucks from $84.00 to $95.00 and gave the stock a “neutral” rating in a research note on Thursday, June 12th. Finally, 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. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $98.73.

Starbucks Trading Down 0.2%

SBUX stock opened at $94.94 on Monday. The firm has a 50-day moving average of $89.10 and a two-hundred day moving average of $94.54. The company has a market cap of $107.89 billion, a price-to-earnings ratio of 34.40, a PEG ratio of 4.86 and a beta of 1.02. Starbucks Corporation has a 12 month low of $71.55 and a 12 month high of $117.46.

Starbucks (NASDAQ:SBUX) last announced its quarterly 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 analyst estimates of $8.90 billion. Starbucks had a negative return on equity of 42.14% and a net margin of 8.61%. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.68 EPS. As a group, equities analysts forecast that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Company 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.