Chevy Chase Trust Holdings LLC Raises Holdings in Starbucks Corporation (NASDAQ:SBUX)

Chevy Chase Trust Holdings LLC grew its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 0.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 609,772 shares of the coffee company’s stock after purchasing an additional 521 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Starbucks were worth $59,813,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in SBUX. Brighton Jones LLC grew its holdings in shares of Starbucks by 86.5% during the fourth quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company’s stock worth $16,126,000 after purchasing an additional 81,952 shares during the last quarter. Sigma Planning Corp grew its holdings in shares of Starbucks by 5.0% during the fourth quarter. Sigma Planning Corp now owns 21,341 shares of the coffee company’s stock worth $1,947,000 after purchasing an additional 1,018 shares during the last quarter. Wealthspire Advisors LLC grew its holdings in shares of Starbucks by 1.2% during the fourth quarter. Wealthspire Advisors LLC now owns 42,717 shares of the coffee company’s stock worth $3,898,000 after purchasing an additional 516 shares during the last quarter. World Equity Group Inc. grew its holdings in shares of Starbucks by 105.5% during the fourth quarter. World Equity Group Inc. now owns 4,700 shares of the coffee company’s stock worth $429,000 after purchasing an additional 2,413 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of Starbucks during the fourth quarter worth about $389,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on SBUX shares. Baird R W lowered Starbucks from a “strong-buy” rating to a “hold” rating in a report on Monday, April 7th. Cowen reissued a “hold” rating on shares of Starbucks in a report on Tuesday. TD Securities reissued a “hold” rating and set a $90.00 price target on shares of Starbucks in a report on Monday. Argus raised Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price target on the stock in a report on Tuesday, March 18th. Finally, JPMorgan Chase & Co. lowered their price target on Starbucks from $105.00 to $100.00 and set an “overweight” rating on the stock in a report on Wednesday, April 30th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, Starbucks currently has an average rating of “Hold” and an average target price of $98.96.

Starbucks Stock Performance

SBUX stock opened at $92.34 on Tuesday. The stock has a market capitalization of $104.94 billion, a P/E ratio of 33.46, a PEG ratio of 4.74 and a beta of 1.00. Starbucks Corporation has a one year low of $71.55 and a one year high of $117.46. The company has a 50 day moving average price of $86.02 and a two-hundred day moving average price of $94.48.

Starbucks (NASDAQ:SBUX) last released its 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). The firm had revenue of $8.76 billion during the quarter, compared to analysts’ expectations of $8.90 billion. Starbucks had a negative return on equity of 42.14% and a net margin of 8.61%. The firm’s revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.68 earnings per share. Research analysts forecast that Starbucks Corporation will post 2.99 earnings per share for the current fiscal 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.