Los Angeles Capital Management LLC Grows Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Los Angeles Capital Management LLC increased its position in Starbucks Co. (NASDAQ:SBUX) by 51.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 507,206 shares of the coffee company’s stock after acquiring an additional 173,213 shares during the period. Los Angeles Capital Management LLC’s holdings in Starbucks were worth $46,283,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the company. Financial Life Planners purchased a new stake in Starbucks during the 4th quarter valued at $25,000. Collier Financial purchased a new stake in Starbucks during the 4th quarter valued at $27,000. Marshall Investment Management LLC purchased a new stake in Starbucks during the 4th quarter valued at $30,000. Centricity Wealth Management LLC purchased a new stake in Starbucks during the 4th quarter valued at $36,000. Finally, Morton Brown Family Wealth LLC raised its stake in Starbucks by 43.9% during the 4th quarter. Morton Brown Family Wealth LLC now owns 505 shares of the coffee company’s stock valued at $46,000 after buying an additional 154 shares during the last quarter. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Starbucks Price Performance

Starbucks stock opened at $113.19 on Tuesday. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $114.68. The firm has a market capitalization of $128.57 billion, a P/E ratio of 36.51, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00. The company’s 50-day moving average is $100.13 and its 200 day moving average is $97.72.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01. Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. During the same period last year, the company posted $0.90 EPS. Research analysts anticipate that Starbucks Co. will post 2.99 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on SBUX shares. UBS Group boosted their target price on shares of Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. BMO Capital Markets boosted their price objective on shares of Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Royal Bank of Canada reissued an “outperform” rating and set a $115.00 price objective on shares of Starbucks in a research report on Friday, January 24th. Wells Fargo & Company boosted their price objective on shares of Starbucks from $110.00 to $115.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. Finally, Redburn Atlantic reissued a “sell” rating and set a $77.00 price objective (down previously from $84.00) on shares of Starbucks in a research report on Wednesday, November 13th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $105.33.

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.