Premier Path Wealth Partners LLC Has $581,000 Stake in Starbucks Corporation (NASDAQ:SBUX)

Premier Path Wealth Partners LLC boosted its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 22.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,923 shares of the coffee company’s stock after acquiring an additional 1,069 shares during the period. Premier Path Wealth Partners LLC’s holdings in Starbucks were worth $581,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Arizona State Retirement System lifted its position in Starbucks by 0.8% during the 4th quarter. Arizona State Retirement System now owns 327,459 shares of the coffee company’s stock worth $29,881,000 after acquiring an additional 2,722 shares during the last quarter. West Michigan Advisors LLC acquired a new position in Starbucks during the 4th quarter worth $265,000. Wernau Asset Management Inc. acquired a new position in Starbucks during the 4th quarter worth $258,000. Vanguard Capital Wealth Advisors acquired a new position in Starbucks during the 4th quarter worth $285,000. Finally, OFI Invest Asset Management acquired a new position in Starbucks during the 4th quarter worth $9,497,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Trading Up 0.8%

Shares of Starbucks stock opened at $92.28 on Friday. The stock has a market capitalization of $104.87 billion, a price-to-earnings ratio of 33.43, a P/E/G ratio of 4.70 and a beta of 1.00. Starbucks Corporation has a 1-year low of $71.55 and a 1-year high of $117.46. The firm’s 50-day moving average price is $85.73 and its two-hundred day moving average price is $94.67.

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

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on SBUX shares. BMO Capital Markets cut their price objective on shares of Starbucks from $115.00 to $100.00 and set an “outperform” rating for the company in a research report on Wednesday, April 30th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $95.00 price objective (up previously from $85.00) on shares of Starbucks in a research report on Thursday, June 12th. TD Securities reaffirmed a “hold” rating and set a $90.00 price objective on shares of Starbucks in a research report on Wednesday, June 11th. UBS Group cut their price objective on shares of Starbucks from $105.00 to $90.00 and set a “neutral” rating for the company in a research report on Monday, April 28th. Finally, Cowen lowered shares of Starbucks from a “buy” rating to a “hold” rating in a research report on Thursday, May 29th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $98.96.

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.