State of Alaska Department of Revenue Acquires 15,090 Shares of Starbucks Corporation $SBUX

State of Alaska Department of Revenue boosted its position in Starbucks Corporation (NASDAQ:SBUX) by 11.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 148,129 shares of the coffee company’s stock after buying an additional 15,090 shares during the quarter. State of Alaska Department of Revenue’s holdings in Starbucks were worth $13,572,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in SBUX. Cove Private Wealth LLC grew its holdings in Starbucks by 22.7% during the 2nd quarter. Cove Private Wealth LLC now owns 4,236 shares of the coffee company’s stock valued at $388,000 after purchasing an additional 784 shares during the last quarter. Patton Fund Management Inc. purchased a new stake in shares of Starbucks in the 2nd quarter valued at approximately $241,000. Kathmere Capital Management LLC raised its stake in shares of Starbucks by 12.7% in the second quarter. Kathmere Capital Management LLC now owns 2,884 shares of the coffee company’s stock valued at $264,000 after acquiring an additional 325 shares in the last quarter. True North Advisors LLC boosted its position in shares of Starbucks by 34.1% in the 2nd quarter. True North Advisors LLC now owns 6,899 shares of the coffee company’s stock valued at $632,000 after purchasing an additional 1,754 shares during the period. Finally, Vision Capital Management Inc. raised its stake in shares of Starbucks by 5.7% during the 2nd quarter. Vision Capital Management Inc. now owns 92,814 shares of the coffee company’s stock worth $8,505,000 after buying an additional 5,022 shares in the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on SBUX. BMO Capital Markets reiterated an “outperform” rating and set a $115.00 target price (up from $100.00) on shares of Starbucks in a report on Wednesday, July 30th. Loop Capital set a $165.00 price objective on Starbucks in a research report on Tuesday, August 12th. Wells Fargo & Company increased their price target on shares of Starbucks from $100.00 to $105.00 and gave the company an “overweight” rating in a research note on Wednesday, July 30th. Stifel Nicolaus upped their target price on shares of Starbucks from $92.00 to $105.00 and gave the company a “buy” rating in a research report on Friday, July 11th. Finally, Jefferies Financial Group cut shares of Starbucks from a “hold” rating to an “underperform” rating and set a $76.00 price objective for the company. in a research report on Thursday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Starbucks currently has a consensus rating of “Moderate Buy” and a consensus price target of $104.40.

Starbucks Stock Down 0.5%

Shares of Starbucks stock opened at $83.39 on Friday. The firm has a market capitalization of $94.79 billion, a P/E ratio of 35.94, a PEG ratio of 4.98 and a beta of 1.00. Starbucks Corporation has a 52 week low of $75.50 and a 52 week high of $117.46. The company has a 50 day moving average price of $88.48 and a 200 day moving average price of $88.97.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Tuesday, July 29th. The coffee company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.14). Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The firm had revenue of $9.46 billion during the quarter, compared to analysts’ expectations of $9.29 billion. During the same quarter in the prior year, the firm posted $0.93 EPS. Starbucks’s quarterly revenue was up 3.8% compared to the same quarter last year. As a group, research analysts anticipate that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

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.