The Potters managed to complete the free transfer of winger Eric Maxim Choupo-Moting on Monday to make it four signings during the off-season, joining Darren Fletcher, Josh Tymon and Kurt Zouma at the bet365 Stadium.
Many other transfers have fallen through, though, and having seen a handful of key men depart - Marko Arnautovic to West Ham United among them - Hughes confesses that the window could still go either way.
"We are happy enough where we are at this stage," he told talkSPORT. "In terms of the window and getting players in, it can be a little bit frustrating and a slow-burner, but it has gone okay.
"We have got some good players in, we have missed out on a couple, but everybody does that. We are reasonably happy where we are and where we sit at the moment."
Asked about his ambitions for the new season, which begins with a trip to Everton on Saturday afternoon, Hughes added: "We always have the intention to win a trophy when the season starts.
"It was an unbelievable thing that Leicester did in winning the Premier League. Are we likely to do that? No, so there are other trophies up for grabs that we feel we have a more realistic chance of winning.
"Every year we go in with the intention of trying to win a trophy, albeit if it is the FA Cup or League Cup. We are not too picky, we will take any one of them if I'm honest!"
Stoke came 13th in the Premier League last season - their first bottom-half finish in four years.