Alley Investment Management Company LLC Grows Stock Position in Starbucks Corporation $SBUX

Alley Investment Management Company LLC lifted its stake in Starbucks Corporation (NASDAQ:SBUX) by 2.3% in the second quarter, HoldingsChannel reports. The firm owned 153,721 shares of the coffee company’s stock after acquiring an additional 3,511 shares during the quarter. Starbucks makes up about 1.7% of Alley Investment Management Company LLC’s investment portfolio, making the stock its 25th biggest position. Alley Investment Management Company LLC’s holdings in Starbucks were worth $14,085,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in Starbucks by 0.9% in the first quarter. Vanguard Group Inc. now owns 112,059,570 shares of the coffee company’s stock valued at $10,991,923,000 after purchasing an additional 953,361 shares during the period. Wellington Management Group LLP lifted its holdings in Starbucks by 22.3% during the 1st quarter. Wellington Management Group LLP now owns 19,414,472 shares of the coffee company’s stock worth $1,904,366,000 after buying an additional 3,545,655 shares during the last quarter. Nuveen LLC purchased a new stake in Starbucks during the 1st quarter worth about $1,379,619,000. Goldman Sachs Group Inc. lifted its holdings in Starbucks by 59.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 9,623,282 shares of the coffee company’s stock worth $943,948,000 after buying an additional 3,589,537 shares during the last quarter. Finally, Jennison Associates LLC purchased a new stake in Starbucks during the 1st quarter worth about $817,759,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Starbucks Stock Down 1.2%

Shares of SBUX stock opened at $84.60 on Wednesday. The stock has a market capitalization of $96.16 billion, a PE ratio of 36.47, a price-to-earnings-growth ratio of 5.15 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 stock’s 50-day moving average price is $88.09 and its 200 day moving average price is $88.80.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, July 29th. The coffee company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.14). The company had revenue of $9.46 billion during the quarter, compared to analyst estimates of $9.29 billion. Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The business’s revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.93 EPS. Analysts expect that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on SBUX shares. Stifel Nicolaus lifted their price target on Starbucks from $92.00 to $105.00 and gave the stock a “buy” rating in a report on Friday, July 11th. CICC Research started coverage on Starbucks in a report on Monday, June 30th. They set an “outperform” rating and a $100.00 price target for the company. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $95.00 price target (up from $85.00) on shares of Starbucks in a report on Thursday, June 12th. Guggenheim lifted their price target on Starbucks from $79.00 to $90.00 and gave the stock a “neutral” rating in a report on Thursday, July 31st. Finally, Citigroup cut their target price on Starbucks from $100.00 to $99.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $104.00.

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.