Archford Capital Strategies LLC Buys New Position in Starbucks Corporation (NASDAQ:SBUX)

Archford Capital Strategies LLC acquired a new stake in Starbucks Corporation (NASDAQ:SBUX) during the first quarter, Holdings Channel reports. The institutional investor acquired 2,054 shares of the coffee company’s stock, valued at approximately $201,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. University of Texas Texas AM Investment Management Co. acquired a new stake in Starbucks in the 4th quarter valued at $25,000. Graney & King LLC acquired a new stake in shares of Starbucks in the fourth quarter valued at about $26,000. Runnymede Capital Advisors Inc. acquired a new stake in shares of Starbucks in the fourth quarter valued at about $27,000. Noble Wealth Management PBC acquired a new stake in shares of Starbucks in the fourth quarter valued at about $30,000. Finally, Kapitalo Investimentos Ltda acquired a new stake in shares of Starbucks in the fourth quarter valued at about $32,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SBUX. TD Cowen reaffirmed a “hold” rating and set a $90.00 price target on shares of Starbucks in a research report on Thursday, May 29th. Argus upgraded shares of Starbucks from a “hold” rating to a “buy” rating and set a $115.00 target price on the stock in a report on Tuesday, March 18th. Citigroup boosted their target price on shares of Starbucks from $84.00 to $95.00 and gave the stock a “neutral” rating in a report on Thursday, June 12th. Wells Fargo & Company lowered their price objective on shares of Starbucks from $125.00 to $100.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 22nd. Finally, Evercore ISI boosted their price objective on shares of Starbucks from $95.00 to $105.00 and gave the stock an “outperform” rating in a research note on Tuesday. Three research 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. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $98.36.

Starbucks Price Performance

Shares of NASDAQ SBUX opened at $91.10 on Thursday. The stock’s fifty day moving average price is $86.38 and its two-hundred day moving average price is $94.44. Starbucks Corporation has a one year low of $71.55 and a one year high of $117.46. The firm has a market cap of $103.53 billion, a price-to-earnings ratio of 33.01, a P/E/G ratio of 4.66 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last released 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 quarter last year, the company posted $0.68 earnings per share. The company’s revenue was up 2.3% on a year-over-year basis. On average, equities analysts anticipate 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.