Onyx Bridge Wealth Group LLC Invests $220,000 in Starbucks Corporation (NASDAQ:SBUX)

Onyx Bridge Wealth Group LLC acquired a new position in shares of Starbucks Corporation (NASDAQ:SBUX) in the 1st quarter, HoldingsChannel reports. The institutional investor acquired 2,245 shares of the coffee company’s stock, valued at approximately $220,000.

Several other institutional investors have also modified their holdings of the company. University of Texas Texas AM Investment Management Co. purchased a new stake in Starbucks in the fourth quarter valued at $25,000. Graney & King LLC purchased a new stake in Starbucks in the fourth quarter valued at $26,000. Runnymede Capital Advisors Inc. purchased a new stake in Starbucks in the fourth quarter valued at $27,000. Kapitalo Investimentos Ltda purchased a new stake in Starbucks in the fourth quarter valued at $32,000. Finally, Ball & Co Wealth Management Inc. purchased a new stake in Starbucks in the fourth quarter valued at $41,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SBUX has been the subject of a number of research reports. UBS Group reduced their price target on shares of Starbucks from $105.00 to $90.00 and set a “neutral” rating for the company in a research report on Monday, April 28th. Royal Bank Of Canada upped their target price on shares of Starbucks from $95.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, June 11th. Stifel Nicolaus reduced their target price on shares of Starbucks from $103.00 to $92.00 and set a “buy” rating for the company in a report on Wednesday, April 30th. BMO Capital Markets reduced their target price on shares of Starbucks from $115.00 to $100.00 and set an “outperform” rating for the company in a report on Wednesday, April 30th. Finally, Wall Street Zen cut shares of Starbucks from a “hold” rating to a “sell” rating in a report on Thursday, May 22nd. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $98.23.

Starbucks Stock Up 0.3%

Shares of Starbucks stock opened at $94.44 on Friday. The company’s 50-day simple moving average is $87.93 and its 200-day simple moving average is $94.28. Starbucks Corporation has a 52-week low of $71.55 and a 52-week high of $117.46. The firm has a market cap of $107.32 billion, a price-to-earnings ratio of 34.22, a price-to-earnings-growth ratio of 4.84 and a beta of 1.02.

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