Proficio Capital Partners LLC Increases Stock Position in Starbucks Co. (NASDAQ:SBUX)

Proficio Capital Partners LLC increased its position in shares of Starbucks Co. (NASDAQ:SBUX) by 3,455.4% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 246,497 shares of the coffee company’s stock after buying an additional 239,564 shares during the period. Proficio Capital Partners LLC’s holdings in Starbucks were worth $22,493,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp lifted its stake in shares of Starbucks by 1.0% in the third quarter. State Street Corp now owns 45,974,407 shares of the coffee company’s stock worth $4,482,045,000 after acquiring an additional 437,218 shares in the last quarter. Geode Capital Management LLC grew its stake in Starbucks by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 24,277,756 shares of the coffee company’s stock valued at $2,358,464,000 after purchasing an additional 333,004 shares in the last quarter. FMR LLC increased its holdings in Starbucks by 55.0% during the 3rd quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock worth $1,928,339,000 after purchasing an additional 7,015,375 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Starbucks by 100.6% in the 3rd quarter. Wellington Management Group LLP now owns 15,149,937 shares of the coffee company’s stock valued at $1,476,967,000 after purchasing an additional 7,598,146 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its stake in shares of Starbucks by 2.9% during the 3rd quarter. Fisher Asset Management LLC now owns 11,762,684 shares of the coffee company’s stock valued at $1,146,744,000 after buying an additional 327,734 shares during the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Stock Performance

Shares of SBUX stock opened at $115.81 on Friday. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $116.09. The firm has a market capitalization of $131.55 billion, a PE ratio of 37.36, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00. The stock has a fifty day moving average of $102.11 and a two-hundred day moving average of $98.51.

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 the consensus estimate 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 in the prior year, the company earned $0.90 earnings per share. Equities research analysts predict that Starbucks Co. will post 2.99 earnings per share for the current fiscal year.

Analyst Ratings Changes

SBUX has been the topic of several recent analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $115.00 price target on shares of Starbucks in a report on Friday, January 24th. BMO Capital Markets upped their target price on shares of Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. UBS Group lifted their price target on Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. TD Cowen restated a “buy” rating and set a $110.00 price objective on shares of Starbucks in a research note on Monday, November 11th. Finally, Barclays lifted their target price on Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Three research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $105.75.

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.