Inscription Capital LLC Takes $1.55 Million Position in Starbucks Co. (NASDAQ:SBUX)

Inscription Capital LLC purchased a new stake in Starbucks Co. (NASDAQ:SBUX) during the 1st quarter, Holdings Channel.com reports. The institutional investor purchased 17,000 shares of the coffee company’s stock, valued at approximately $1,554,000.

A number of other hedge funds have also bought and sold shares of SBUX. Capital & Planning LLC grew its stake in Starbucks by 40.7% during the fourth quarter. Capital & Planning LLC now owns 12,039 shares of the coffee company’s stock worth $1,099,000 after buying an additional 3,483 shares in the last quarter. Brighton Jones LLC lifted its holdings in shares of Starbucks by 86.5% during the 4th quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company’s stock worth $16,126,000 after acquiring an additional 81,952 shares during the period. Everhart Financial Group Inc. boosted its position in shares of Starbucks by 9.7% during the 4th quarter. Everhart Financial Group Inc. now owns 4,420 shares of the coffee company’s stock worth $403,000 after acquiring an additional 390 shares in the last quarter. Legacy Capital Wealth Partners LLC increased its stake in Starbucks by 8.9% in the fourth quarter. Legacy Capital Wealth Partners LLC now owns 2,986 shares of the coffee company’s stock valued at $273,000 after acquiring an additional 245 shares during the last quarter. Finally, Strategic Financial Concepts LLC bought a new position in Starbucks in the fourth quarter valued at approximately $62,000. 72.29% of the stock is owned by institutional investors.

Starbucks Price Performance

Starbucks stock opened at $93.48 on Tuesday. The stock’s 50 day moving average is $85.44 and its 200 day moving average is $94.77. Starbucks Co. has a one year low of $71.55 and a one year high of $117.46. The firm has a market cap of $106.23 billion, a P/E ratio of 30.15, a P/E/G ratio of 3.59 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, April 29th. The coffee company reported $0.41 earnings per share (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 firm had revenue of $8.76 billion during the quarter, compared to analyst estimates of $8.90 billion. During the same quarter last year, the firm posted $0.68 EPS. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. Equities analysts anticipate that Starbucks Co. will post 2.99 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SBUX. Wall Street Zen cut Starbucks from a “hold” rating to a “sell” rating in a research note on Thursday, May 22nd. Wells Fargo & Company reduced their price objective on Starbucks from $125.00 to $100.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 22nd. Guggenheim decreased their target price on Starbucks from $95.00 to $83.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 29th. Cowen cut shares of Starbucks from a “buy” rating to a “hold” rating in a report on Thursday, May 29th. Finally, Baird R W lowered shares of Starbucks from a “strong-buy” rating to a “hold” rating in a report on Monday, April 7th. Three 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. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $98.96.

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.