SlateStone Wealth LLC Acquires 779 Shares of Starbucks Co. (NASDAQ:SBUX)

SlateStone Wealth LLC raised its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 1.3% in the fourth quarter, HoldingsChannel reports. The firm owned 58,634 shares of the coffee company’s stock after buying an additional 779 shares during the quarter. SlateStone Wealth LLC’s holdings in Starbucks were worth $5,350,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. State Street Corp raised its position in Starbucks by 1.0% during the 3rd quarter. State Street Corp now owns 45,974,407 shares of the coffee company’s stock valued at $4,482,045,000 after purchasing an additional 437,218 shares during the last quarter. Geode Capital Management LLC raised its position 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 during the last quarter. FMR LLC grew its holdings in shares of 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 acquiring an additional 7,015,375 shares during the period. Wellington Management Group LLP grew its holdings in shares of Starbucks by 100.6% during the 3rd quarter. Wellington Management Group LLP now owns 15,149,937 shares of the coffee company’s stock worth $1,476,967,000 after acquiring an additional 7,598,146 shares during the period. Finally, Fisher Asset Management LLC grew its holdings in shares of Starbucks by 1.3% during the 4th quarter. Fisher Asset Management LLC now owns 11,916,777 shares of the coffee company’s stock worth $1,087,406,000 after acquiring an additional 154,093 shares during the period. Institutional investors own 72.29% of the company’s stock.

Starbucks Stock Performance

Shares of Starbucks stock opened at $98.11 on Friday. Starbucks Co. has a one year low of $71.55 and a one year high of $117.46. The stock’s fifty day moving average is $104.82 and its 200 day moving average is $99.22. The stock has a market cap of $111.44 billion, a P/E ratio of 31.65, a P/E/G ratio of 3.59 and a beta of 0.99.

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

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Royal Bank of Canada reiterated an “outperform” rating and set a $115.00 target price on shares of Starbucks in a report on Friday, January 24th. Wells Fargo & Company upped their target price on Starbucks from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Tuesday, February 25th. UBS Group upped their target price on Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Barclays upped their price target on Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Finally, BMO Capital Markets upped their price target on Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $105.75.

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.