Griffin Asset Management Inc. Has $11.26 Million Stock Position in Starbucks Co. (NASDAQ:SBUX)

Griffin Asset Management Inc. lowered its stake in Starbucks Co. (NASDAQ:SBUX) by 1.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 114,795 shares of the coffee company’s stock after selling 1,501 shares during the quarter. Starbucks makes up approximately 1.4% of Griffin Asset Management Inc.’s investment portfolio, making the stock its 19th largest position. Griffin Asset Management Inc.’s holdings in Starbucks were worth $11,260,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Starbucks during the fourth quarter worth approximately $25,000. Graney & King LLC bought a new stake in Starbucks during the fourth quarter worth $26,000. Runnymede Capital Advisors Inc. bought a new stake in Starbucks during the fourth quarter worth $27,000. Marshall Investment Management LLC acquired a new position in shares of Starbucks during the fourth quarter worth $30,000. Finally, Noble Wealth Management PBC acquired a new position in shares of Starbucks during the fourth quarter worth $30,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on SBUX shares. UBS Group decreased their price objective on Starbucks from $105.00 to $90.00 and set a “neutral” rating for the company in a report on Monday, April 28th. The Goldman Sachs Group raised their price target on shares of Starbucks from $85.00 to $95.00 and gave the company a “neutral” rating in a research report on Thursday. TD Securities reaffirmed a “hold” rating and issued a $90.00 price target on shares of Starbucks in a research report on Wednesday. Argus upgraded shares of Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price objective for the company in a research note on Tuesday, March 18th. Finally, Royal Bank of Canada raised their price target on shares of Starbucks from $95.00 to $100.00 and gave the stock an “outperform” rating in a research note on Wednesday. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $98.96.

Starbucks Stock Performance

NASDAQ SBUX opened at $93.26 on Friday. The company has a market capitalization of $105.98 billion, a P/E ratio of 30.08, a P/E/G ratio of 3.59 and a beta of 1.00. The company has a fifty day moving average of $85.17 and a 200-day moving average of $94.93. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $117.46.

Starbucks (NASDAQ:SBUX) last issued 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 44.97% and a net margin of 9.73%. The business had revenue of $8.76 billion during the quarter, compared to analysts’ expectations of $8.90 billion. During the same quarter in the previous year, the business earned $0.68 EPS. Starbucks’s revenue for the quarter was up 2.3% compared to the same quarter last year. As a group, analysts forecast that Starbucks Co. will post 2.99 EPS for the current fiscal year.

About Starbucks

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.