Alpine Bank Wealth Management Takes $1.83 Million Position in Starbucks Corporation (NASDAQ:SBUX)

Alpine Bank Wealth Management acquired a new stake in Starbucks Corporation (NASDAQ:SBUX) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 18,671 shares of the coffee company’s stock, valued at approximately $1,831,000.

Several other institutional investors have also modified their holdings of the stock. TrinityPoint Wealth LLC lifted its stake in shares of Starbucks by 2.7% in the 4th quarter. TrinityPoint Wealth LLC now owns 3,421 shares of the coffee company’s stock valued at $312,000 after purchasing an additional 89 shares during the last quarter. Pioneer Trust Bank N A OR lifted its stake in shares of Starbucks by 0.8% during the 4th quarter. Pioneer Trust Bank N A OR now owns 11,312 shares of the coffee company’s stock worth $1,032,000 after acquiring an additional 92 shares during the last quarter. Wintrust Investments LLC increased its holdings in Starbucks by 7.1% during the 4th quarter. Wintrust Investments LLC now owns 1,411 shares of the coffee company’s stock worth $128,000 after purchasing an additional 94 shares during the period. Foster Dykema Cabot & Partners LLC increased its holdings in Starbucks by 10.6% during the 4th quarter. Foster Dykema Cabot & Partners LLC now owns 1,014 shares of the coffee company’s stock worth $93,000 after purchasing an additional 97 shares during the period. Finally, Gamco Investors INC. ET AL increased its holdings in Starbucks by 3.5% during the 4th quarter. Gamco Investors INC. ET AL now owns 2,860 shares of the coffee company’s stock worth $261,000 after purchasing an additional 97 shares during the period. 72.29% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have commented on the company. Guggenheim reduced their price objective on Starbucks from $95.00 to $83.00 and set a “neutral” rating on the stock in a report on Tuesday, April 29th. Robert W. Baird restated a “neutral” rating and set a $85.00 price objective (down from $114.00) on shares of Starbucks in a report on Monday, April 7th. The Goldman Sachs Group restated a “neutral” rating and set a $95.00 price objective (up from $85.00) on shares of Starbucks in a report on Thursday, June 12th. Citigroup raised their price objective on Starbucks from $84.00 to $95.00 and gave the stock a “neutral” rating in a report on Thursday, June 12th. Finally, Barclays reduced their price objective on Starbucks from $106.00 to $98.00 and set an “overweight” rating on the stock in a report on Wednesday, April 30th. Three 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 stock. According to data from MarketBeat, Starbucks has an average rating of “Hold” and a consensus target price of $98.36.

Starbucks Trading Down 0.9%

NASDAQ SBUX opened at $91.50 on Wednesday. The stock has a market cap of $103.98 billion, a P/E ratio of 33.15, a P/E/G ratio of 4.70 and a beta of 1.00. Starbucks Corporation has a 12-month low of $71.55 and a 12-month high of $117.46. The company has a fifty day simple moving average of $86.17 and a two-hundred day simple moving average of $94.46.

Starbucks (NASDAQ:SBUX) last released its 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). Starbucks had a negative return on equity of 42.14% and a net margin of 8.61%. The firm had revenue of $8.76 billion for the quarter, compared to analyst estimates of $8.90 billion. During the same period last year, the firm earned $0.68 EPS. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Starbucks Corporation will post 2.99 earnings per share for the current year.

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.