Starbucks Corporation (NASDAQ:SBUX) Shares Bought by Family Legacy Inc.

Family Legacy Inc. raised its stake in Starbucks Corporation (NASDAQ:SBUX) by 0.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 31,081 shares of the coffee company’s stock after purchasing an additional 211 shares during the quarter. Family Legacy Inc.’s holdings in Starbucks were worth $3,049,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Brighton Jones LLC raised its stake in shares of Starbucks by 86.5% in the 4th quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company’s stock valued at $16,126,000 after acquiring an additional 81,952 shares during the period. Sigma Planning Corp raised its stake in shares of Starbucks by 5.0% in the 4th quarter. Sigma Planning Corp now owns 21,341 shares of the coffee company’s stock valued at $1,947,000 after acquiring an additional 1,018 shares during the period. Wealthspire Advisors LLC raised its stake in shares of Starbucks by 1.2% in the 4th quarter. Wealthspire Advisors LLC now owns 42,717 shares of the coffee company’s stock valued at $3,898,000 after acquiring an additional 516 shares during the period. World Equity Group Inc. increased its stake in Starbucks by 105.5% during the 4th quarter. World Equity Group Inc. now owns 4,700 shares of the coffee company’s stock worth $429,000 after buying an additional 2,413 shares during the period. Finally, Y Intercept Hong Kong Ltd purchased a new stake in Starbucks during the 4th quarter worth $389,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Stock Performance

NASDAQ SBUX opened at $92.34 on Tuesday. Starbucks Corporation has a one year low of $71.55 and a one year high of $117.46. The company has a 50-day simple moving average of $86.02 and a 200-day simple moving average of $94.48. The firm has a market capitalization of $104.94 billion, a PE ratio of 33.46, a price-to-earnings-growth ratio of 4.74 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Tuesday, April 29th. The coffee company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.10). Starbucks had a net margin of 8.61% and a negative return on equity of 42.14%. The business had revenue of $8.76 billion during the quarter, compared to analyst estimates of $8.90 billion. During the same period last year, the firm posted $0.68 earnings per share. The company’s quarterly revenue was up 2.3% on a year-over-year basis. Equities analysts forecast that Starbucks Corporation will post 2.99 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Royal Bank Of Canada lifted their price target on shares of Starbucks from $95.00 to $100.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 11th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $95.00 price target (up previously from $85.00) on shares of Starbucks in a research note on Thursday, June 12th. Guggenheim dropped their price target on shares of Starbucks from $95.00 to $83.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 29th. JPMorgan Chase & Co. dropped their price target on shares of Starbucks from $105.00 to $100.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 30th. Finally, TD Securities reaffirmed a “hold” rating and set a $90.00 price target on shares of Starbucks in a research note on Monday. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, Starbucks currently has an average rating of “Hold” and an average target price of $98.96.

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.