Aaron Wealth Advisors LLC Grows Stake in Starbucks Corporation (NASDAQ:SBUX)

Aaron Wealth Advisors LLC raised its stake in Starbucks Corporation (NASDAQ:SBUX) by 10.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,204 shares of the coffee company’s stock after purchasing an additional 692 shares during the period. Aaron Wealth Advisors LLC’s holdings in Starbucks were worth $707,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Starbucks Stock Down 0.8%

SBUX stock opened at $94.18 on Thursday. Starbucks Corporation has a twelve month low of $71.55 and a twelve month high of $117.46. The company has a market cap of $107.03 billion, a P/E ratio of 34.12, a PEG ratio of 4.86 and a beta of 1.02. The business has a fifty day moving average of $87.51 and a 200-day moving average of $94.26.

Starbucks (NASDAQ:SBUX) last released its 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 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 revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter last year, the company posted $0.68 EPS. As a group, equities research analysts anticipate that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

SBUX has been the subject of several recent research reports. Jefferies Financial Group raised shares of Starbucks from an “underperform” rating to a “hold” rating and set a $76.00 price objective for the company in a research report on Wednesday, April 9th. Wells Fargo & Company reduced their price objective on shares of Starbucks from $125.00 to $100.00 and set an “overweight” rating for the company in a report on Tuesday, April 22nd. Sanford C. Bernstein increased their price objective on Starbucks from $90.00 to $100.00 and gave the company an “outperform” rating in a research report on Wednesday. Wall Street Zen downgraded Starbucks from a “hold” rating to a “sell” rating in a research note on Thursday, May 22nd. Finally, Argus raised shares of Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price target on the stock in a research report on Tuesday, March 18th. 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 stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $98.23.

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.