Cushing Capital Partners LLC Purchases Shares of 6,185 Starbucks Corporation (NASDAQ:SBUX)

Cushing Capital Partners LLC acquired a new position in shares of Starbucks Corporation (NASDAQ:SBUX) in the first quarter, HoldingsChannel reports. The institutional investor acquired 6,185 shares of the coffee company’s stock, valued at approximately $607,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. University of Texas Texas AM Investment Management Co. acquired a new position in Starbucks in the 4th quarter valued at $25,000. Graney & King LLC bought a new stake in shares of Starbucks in the fourth quarter valued at about $26,000. Runnymede Capital Advisors Inc. acquired a new position in shares of Starbucks in the fourth quarter valued at about $27,000. Marshall Investment Management LLC bought a new position in Starbucks during the fourth quarter worth about $30,000. Finally, Noble Wealth Management PBC acquired a new stake in Starbucks in the 4th quarter worth about $30,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Baird R W lowered shares of Starbucks from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 7th. Barclays reduced their price target on Starbucks from $106.00 to $98.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 30th. UBS Group dropped their price objective on Starbucks from $105.00 to $90.00 and set a “neutral” rating for the company in a report on Monday, April 28th. BMO Capital Markets reduced their target price on Starbucks from $115.00 to $100.00 and set an “outperform” rating on the stock in a report on Wednesday, April 30th. Finally, Wells Fargo & Company dropped their price target on Starbucks from $125.00 to $100.00 and set an “overweight” rating for the company in a research note on Tuesday, April 22nd. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $98.96.

Starbucks Price Performance

NASDAQ:SBUX opened at $91.59 on Wednesday. Starbucks Corporation has a one year low of $71.55 and a one year high of $117.46. The company has a market cap of $104.08 billion, a PE ratio of 33.18, a P/E/G ratio of 4.69 and a beta of 1.00. The firm’s 50 day simple moving average is $85.50 and its 200 day simple moving average is $94.75.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results 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 business 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%. Starbucks’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.68 EPS. Equities research analysts expect that Starbucks Corporation will post 2.99 EPS for the current 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.