Good Steward Wealth Advisors LLC Invests $312,000 in Starbucks Corporation (NASDAQ:SBUX)

Good Steward Wealth Advisors LLC bought a new stake in shares of Starbucks Corporation (NASDAQ:SBUX) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,183 shares of the coffee company’s stock, valued at approximately $312,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. TrinityPoint Wealth LLC boosted its stake in shares of Starbucks by 2.7% during the fourth quarter. TrinityPoint Wealth LLC now owns 3,421 shares of the coffee company’s stock valued at $312,000 after purchasing an additional 89 shares in the last quarter. Pioneer Trust Bank N A OR lifted its holdings in Starbucks by 0.8% during the fourth quarter. Pioneer Trust Bank N A OR now owns 11,312 shares of the coffee company’s stock worth $1,032,000 after buying an additional 92 shares during the period. Wintrust Investments LLC boosted its position in Starbucks by 7.1% during the 4th quarter. Wintrust Investments LLC now owns 1,411 shares of the coffee company’s stock valued at $128,000 after acquiring an additional 94 shares in the last quarter. Gamco Investors INC. ET AL increased its holdings in shares of Starbucks by 3.5% in the 4th quarter. Gamco Investors INC. ET AL now owns 2,860 shares of the coffee company’s stock valued at $261,000 after acquiring an additional 97 shares during the period. Finally, Foster Dykema Cabot & Partners LLC raised its position in shares of Starbucks by 10.6% in the 4th quarter. Foster Dykema Cabot & Partners LLC now owns 1,014 shares of the coffee company’s stock worth $93,000 after acquiring an additional 97 shares in the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Stock Up 0.8%

NASDAQ SBUX opened at $92.28 on Friday. Starbucks Corporation has a 52 week low of $71.55 and a 52 week high of $117.46. The firm has a 50 day moving average of $85.73 and a two-hundred day moving average of $94.67. The stock has a market capitalization of $104.87 billion, a PE ratio of 33.43, a price-to-earnings-growth ratio of 4.70 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Tuesday, April 29th. The coffee company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.10). The business had revenue of $8.76 billion during the quarter, compared to analysts’ expectations of $8.90 billion. Starbucks had a net margin of 8.61% and a negative return on equity of 42.14%. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period last year, the company earned $0.68 EPS. On average, equities research analysts expect that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. TD Cowen reaffirmed a “hold” rating and issued a $90.00 price objective on shares of Starbucks in a research report on Thursday, May 29th. UBS Group cut their price objective on shares of Starbucks from $105.00 to $90.00 and set a “neutral” rating on the stock in a research note on Monday, April 28th. The Goldman Sachs Group restated a “neutral” rating and set a $95.00 target price (up from $85.00) on shares of Starbucks in a research report on Thursday, June 12th. Wells Fargo & Company cut their price target on Starbucks from $125.00 to $100.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 22nd. Finally, Cowen lowered Starbucks from a “buy” rating to a “hold” rating in a research note on Thursday, May 29th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $98.96.

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.