Starbucks Co. (NASDAQ:SBUX) Stake Increased by Ritholtz Wealth Management

Ritholtz Wealth Management increased its stake in Starbucks Co. (NASDAQ:SBUX) by 39.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,452 shares of the coffee company’s stock after buying an additional 4,898 shares during the period. Ritholtz Wealth Management’s holdings in Starbucks were worth $1,712,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in SBUX. Vanguard Group Inc. boosted its holdings in Starbucks by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 111,106,209 shares of the coffee company’s stock worth $10,138,442,000 after purchasing an additional 784,432 shares during the period. Capital World Investors boosted its holdings in Starbucks by 20.1% in the fourth quarter. Capital World Investors now owns 54,924,230 shares of the coffee company’s stock worth $5,011,796,000 after purchasing an additional 9,174,682 shares during the period. FMR LLC boosted its holdings in Starbucks by 27.0% in the fourth quarter. FMR LLC now owns 25,128,649 shares of the coffee company’s stock worth $2,292,989,000 after purchasing an additional 5,348,790 shares during the period. Geode Capital Management LLC boosted its holdings in Starbucks by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 24,826,001 shares of the coffee company’s stock worth $2,259,516,000 after purchasing an additional 548,245 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in Starbucks by 4.7% in the fourth quarter. Wellington Management Group LLP now owns 15,868,817 shares of the coffee company’s stock worth $1,448,030,000 after purchasing an additional 718,880 shares during the period. Institutional investors own 72.29% of the company’s stock.

Starbucks Trading Up 0.2%

Shares of NASDAQ SBUX opened at $93.48 on Tuesday. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $117.46. The company has a market capitalization of $106.23 billion, a price-to-earnings ratio of 30.15, a PEG ratio of 3.59 and a beta of 1.00. The firm has a 50-day moving average of $85.44 and a two-hundred day moving average of $94.77.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, April 29th. The coffee company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.10). Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. The business had revenue of $8.76 billion during the quarter, compared to analyst estimates of $8.90 billion. During the same period in the previous year, the company posted $0.68 earnings per share. Starbucks’s revenue was up 2.3% compared to the same quarter last year. As a group, research analysts predict that Starbucks Co. will post 2.99 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have commented on SBUX. Guggenheim decreased their price objective on shares of Starbucks from $95.00 to $83.00 and set a “neutral” rating for the company in a report on Tuesday, April 29th. Barclays reduced their price target on shares of Starbucks from $106.00 to $98.00 and set an “overweight” rating for the company in a report on Wednesday, April 30th. TD Securities reissued a “hold” rating and set a $90.00 price target on shares of Starbucks in a report on Wednesday, June 11th. The Goldman Sachs Group reissued a “neutral” rating and set a $95.00 price target (up previously from $85.00) on shares of Starbucks in a report on Thursday, June 12th. Finally, BMO Capital Markets reduced their price target on shares of Starbucks from $115.00 to $100.00 and set an “outperform” rating for the company in a report on Wednesday, April 30th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $98.96.

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.