Wealth Enhancement Advisory Services LLC Has $46.38 Million Holdings in Starbucks Corporation (NASDAQ:SBUX)

Wealth Enhancement Advisory Services LLC raised its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 5.8% in the first quarter, according to its most recent filing with the SEC. The firm owned 472,776 shares of the coffee company’s stock after purchasing an additional 25,809 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Starbucks were worth $46,375,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in SBUX. Norges Bank acquired a new stake in Starbucks during the 4th quarter valued at approximately $1,244,812,000. Capital World Investors increased its position in Starbucks by 20.1% during the 4th quarter. Capital World Investors now owns 54,924,230 shares of the coffee company’s stock valued at $5,011,796,000 after purchasing an additional 9,174,682 shares during the period. FMR LLC increased its position in Starbucks by 27.0% during the 4th quarter. FMR LLC now owns 25,128,649 shares of the coffee company’s stock valued at $2,292,989,000 after purchasing an additional 5,348,790 shares during the period. Capital Research Global Investors increased its position in Starbucks by 167.6% during the 4th quarter. Capital Research Global Investors now owns 5,690,198 shares of the coffee company’s stock valued at $519,230,000 after purchasing an additional 3,563,942 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in shares of Starbucks during the 4th quarter worth approximately $284,283,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Stock Up 0.9%

Shares of SBUX opened at $93.12 on Friday. The business’s fifty day moving average is $85.88 and its 200 day moving average is $94.61. Starbucks Corporation has a 12-month low of $71.55 and a 12-month high of $117.46. The stock has a market cap of $105.82 billion, a P/E ratio of 33.74, a P/E/G ratio of 4.70 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data 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 net margin of 8.61% and a negative return on equity of 42.14%. The company had revenue of $8.76 billion for the quarter, compared to the consensus estimate of $8.90 billion. During the same quarter last year, the business posted $0.68 earnings per share. Starbucks’s revenue was up 2.3% on a year-over-year basis. On average, analysts expect that Starbucks Corporation will post 2.99 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on SBUX. UBS Group reduced their price objective 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. JPMorgan Chase & Co. reduced their price objective on shares of Starbucks from $105.00 to $100.00 and set an “overweight” rating for the company in a research report on Wednesday, April 30th. Barclays reduced their price objective on shares of Starbucks from $106.00 to $98.00 and set an “overweight” rating for the company in a research report on Wednesday, April 30th. Guggenheim reduced their price objective on shares of Starbucks from $95.00 to $83.00 and set a “neutral” rating for the company in a research report on Tuesday, April 29th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $95.00 price objective (up previously from $85.00) on shares of Starbucks in a research report on Thursday, June 12th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, Starbucks currently has a consensus rating of “Hold” and a consensus price target of $98.96.

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.