Norris Perne & French LLP MI Has $419,000 Stake in Starbucks Corporation $SBUX

Norris Perne & French LLP MI lifted its holdings in Starbucks Corporation (NASDAQ:SBUX) by 8.9% during the 2nd quarter, Holdings Channel reports. The fund owned 4,574 shares of the coffee company’s stock after acquiring an additional 374 shares during the quarter. Norris Perne & French LLP MI’s holdings in Starbucks were worth $419,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Hughes Financial Services LLC bought a new position in shares of Starbucks in the first quarter valued at about $27,000. CBIZ Investment Advisory Services LLC increased its position in Starbucks by 125.2% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company’s stock valued at $28,000 after acquiring an additional 159 shares in the last quarter. McClarren Financial Advisors Inc. bought a new position in shares of Starbucks in the first quarter worth about $29,000. Nova Wealth Management Inc. lifted its position in shares of Starbucks by 285.4% during the first quarter. Nova Wealth Management Inc. now owns 316 shares of the coffee company’s stock worth $31,000 after purchasing an additional 234 shares in the last quarter. Finally, Activest Wealth Management lifted its position in shares of Starbucks by 78.0% during the first quarter. Activest Wealth Management now owns 331 shares of the coffee company’s stock worth $32,000 after purchasing an additional 145 shares in the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Trading Down 0.5%

NASDAQ SBUX opened at $83.39 on Monday. Starbucks Corporation has a 12 month low of $75.50 and a 12 month high of $117.46. The stock has a 50-day simple moving average of $88.48 and a 200 day simple moving average of $88.92. The company has a market capitalization of $94.79 billion, a PE ratio of 35.94, a P/E/G ratio of 5.01 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last posted its 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). Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%.The company had revenue of $9.46 billion for the quarter, compared to analyst estimates of $9.29 billion. During the same quarter in the previous year, the firm posted $0.93 earnings per share. Starbucks’s quarterly revenue was up 3.8% compared to the same quarter last year. As a group, sell-side analysts predict that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. TD Securities reissued a “hold” rating and issued a $90.00 price target on shares of Starbucks in a report on Monday, June 23rd. Piper Sandler set a $105.00 target price on Starbucks and gave the company an “overweight” rating in a research note on Wednesday, July 30th. Barclays upped their price target on Starbucks from $106.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, July 30th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $95.00 price objective (up from $85.00) on shares of Starbucks in a research report on Thursday, June 12th. Finally, Wells Fargo & Company boosted their price objective on Starbucks from $100.00 to $105.00 and gave the stock an “overweight” rating in a report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $104.40.

Starbucks Company 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.