St. Johns Investment Management Company LLC Increases Stock Holdings in Starbucks Corporation (NASDAQ:SBUX)

St. Johns Investment Management Company LLC lifted its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 4.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,142 shares of the coffee company’s stock after buying an additional 241 shares during the quarter. St. Johns Investment Management Company LLC’s holdings in Starbucks were worth $504,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Norges Bank purchased a new stake in shares of Starbucks in the fourth quarter valued at about $1,244,812,000. Capital World Investors raised its position in shares of Starbucks by 20.1% during the 4th 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 last quarter. FMR LLC lifted its stake in Starbucks by 27.0% in the 4th quarter. FMR LLC now owns 25,128,649 shares of the coffee company’s stock valued at $2,292,989,000 after buying an additional 5,348,790 shares in the last quarter. Capital Research Global Investors grew its holdings in Starbucks by 167.6% during the 4th quarter. Capital Research Global Investors now owns 5,690,198 shares of the coffee company’s stock valued at $519,230,000 after buying an additional 3,563,942 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Starbucks during the fourth quarter worth $284,283,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SBUX. Citigroup upped their price objective on Starbucks from $84.00 to $95.00 and gave the company a “neutral” rating in a research report on Thursday, June 12th. TD Cowen restated a “hold” rating and issued a $90.00 target price on shares of Starbucks in a report on Thursday, May 29th. Barclays decreased their price target on shares of Starbucks from $106.00 to $98.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 30th. Wells Fargo & Company cut their price objective on shares of Starbucks from $125.00 to $100.00 and set an “overweight” rating for the company in a research report on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. decreased their target price on shares of Starbucks from $105.00 to $100.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 30th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $98.96.

Starbucks Stock Down 0.8%

SBUX stock opened at $92.34 on Tuesday. The company has a market cap of $104.94 billion, a price-to-earnings ratio of 33.46, a PEG ratio of 4.74 and a beta of 1.00. The business has a fifty day simple moving average of $86.02 and a 200-day simple moving average of $94.48. Starbucks Corporation has a 52 week low of $71.55 and a 52 week high of $117.46.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Tuesday, April 29th. The coffee company reported $0.41 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 company’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.68 earnings per share. As a group, analysts expect that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

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.