Azzad Asset Management Inc. ADV Acquires Shares of 31,391 Starbucks Co. (NASDAQ:SBUX)

Azzad Asset Management Inc. ADV acquired a new stake in Starbucks Co. (NASDAQ:SBUX) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 31,391 shares of the coffee company’s stock, valued at approximately $3,079,000.

A number of other large investors have also recently made changes to their positions in SBUX. Norges Bank bought a new position in shares of Starbucks in the fourth quarter valued at $1,244,812,000. Capital World Investors lifted its stake in shares of Starbucks by 20.1% in the fourth quarter. Capital World Investors now owns 54,924,230 shares of the coffee company’s stock valued at $5,011,796,000 after buying an additional 9,174,682 shares in the last quarter. FMR LLC lifted its stake in shares of Starbucks by 27.0% in the fourth 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 raised its holdings in shares of Starbucks by 167.6% in the fourth quarter. Capital Research Global Investors now owns 5,690,198 shares of the coffee company’s stock valued at $519,230,000 after purchasing an additional 3,563,942 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Starbucks in the fourth quarter valued at about $284,283,000. 72.29% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

SBUX has been the subject of several analyst reports. UBS Group lowered their target price on shares of Starbucks from $105.00 to $90.00 and set a “neutral” rating for the company in a report on Monday, April 28th. Argus upgraded shares of Starbucks from a “hold” rating to a “buy” rating and set a $115.00 target price for the company in a report on Tuesday, March 18th. JPMorgan Chase & Co. lowered their target price on shares of Starbucks from $105.00 to $100.00 and set an “overweight” rating for the company in a report on Wednesday, April 30th. Barclays lowered their target price on shares of Starbucks from $106.00 to $98.00 and set an “overweight” rating for the company in a report on Wednesday, April 30th. Finally, Citigroup increased their target price on shares of Starbucks from $84.00 to $95.00 and gave the company a “neutral” rating in a report on Thursday. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, Starbucks has a consensus rating of “Hold” and a consensus price target of $98.96.

Starbucks Price Performance

Shares of Starbucks stock opened at $93.26 on Friday. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $117.46. The firm has a market cap of $105.98 billion, a PE ratio of 30.08, a PEG ratio of 3.59 and a beta of 1.00. The company has a 50 day simple moving average of $85.17 and a two-hundred day simple moving average of $94.93.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Tuesday, April 29th. The coffee company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.10). The business had revenue of $8.76 billion during the quarter, compared to the consensus estimate of $8.90 billion. Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. The company’s revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.68 earnings per share. As a group, research analysts anticipate that Starbucks Co. will post 2.99 earnings per share for the current 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.