Tounjian Advisory Partners LLC Takes Position in Starbucks Co. (NASDAQ:SBUX)

Tounjian Advisory Partners LLC purchased a new stake in Starbucks Co. (NASDAQ:SBUX) in the first quarter, according to its most recent filing with the SEC. The fund purchased 9,954 shares of the coffee company’s stock, valued at approximately $976,000.

A number of other institutional investors have also made changes to their positions in SBUX. TrinityPoint Wealth LLC boosted its stake in Starbucks by 2.7% during 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 period. Pioneer Trust Bank N A OR lifted its position in shares of Starbucks by 0.8% in 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 period. Wintrust Investments LLC lifted its position in shares of Starbucks by 7.1% in the 4th quarter. Wintrust Investments LLC now owns 1,411 shares of the coffee company’s stock worth $128,000 after acquiring an additional 94 shares during the period. Kuhn & Co Investment Counsel lifted its position in shares of Starbucks by 2.3% in the 4th quarter. Kuhn & Co Investment Counsel now owns 4,240 shares of the coffee company’s stock worth $387,000 after acquiring an additional 96 shares during the period. Finally, Gamco Investors INC. ET AL lifted its position in shares of Starbucks by 3.5% in the 4th quarter. Gamco Investors INC. ET AL now owns 2,860 shares of the coffee company’s stock worth $261,000 after acquiring an additional 97 shares during the period. 72.29% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on SBUX shares. BMO Capital Markets reduced their price objective on Starbucks from $115.00 to $100.00 and set an “outperform” rating for the company in a research report on Wednesday, April 30th. Wells Fargo & Company reduced their price objective on Starbucks from $125.00 to $100.00 and set an “overweight” rating for the company in a research report on Tuesday, April 22nd. Cowen downgraded Starbucks from a “buy” rating to a “hold” rating in a research report on Thursday, May 29th. Jefferies Financial Group upgraded Starbucks from an “underperform” rating to a “hold” rating and set a $76.00 price objective for the company in a research report on Wednesday, April 9th. Finally, Baird R W downgraded Starbucks from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 7th. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Starbucks presently has an average rating of “Hold” and a consensus target price of $97.92.

Starbucks Price Performance

SBUX stock opened at $90.67 on Tuesday. The business has a fifty day moving average price of $84.28 and a 200 day moving average price of $95.06. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $117.46. The stock has a market capitalization of $103.04 billion, a price-to-earnings ratio of 29.25, a P/E/G ratio of 3.59 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 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.10). Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. The business had revenue of $8.76 billion for the quarter, compared to analyst estimates of $8.90 billion. During the same period in the prior year, the business earned $0.68 earnings per share. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, equities analysts expect that Starbucks Co. will post 2.99 earnings per share for the current fiscal 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.