Patten & Patten Inc. TN Has $453,000 Stake in Starbucks Co. (NASDAQ:SBUX)

Patten & Patten Inc. TN increased its holdings in Starbucks Co. (NASDAQ:SBUX) by 8.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,967 shares of the coffee company’s stock after buying an additional 404 shares during the period. Patten & Patten Inc. TN’s holdings in Starbucks were worth $453,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Harbour Investments Inc. increased its stake in Starbucks by 4.8% in the fourth quarter. Harbour Investments Inc. now owns 14,074 shares of the coffee company’s stock valued at $1,284,000 after acquiring an additional 643 shares during the last quarter. Corient Private Wealth LLC increased its stake in Starbucks by 0.6% in the fourth quarter. Corient Private Wealth LLC now owns 2,404,451 shares of the coffee company’s stock valued at $219,146,000 after acquiring an additional 13,803 shares during the last quarter. Centurion Wealth Management LLC increased its stake in Starbucks by 8.3% in the fourth quarter. Centurion Wealth Management LLC now owns 2,767 shares of the coffee company’s stock valued at $253,000 after acquiring an additional 213 shares during the last quarter. Choate Investment Advisors increased its stake in Starbucks by 5.3% in the fourth quarter. Choate Investment Advisors now owns 3,589 shares of the coffee company’s stock valued at $327,000 after acquiring an additional 181 shares during the last quarter. Finally, Frank Rimerman Advisors LLC increased its stake in Starbucks by 0.8% in the fourth quarter. Frank Rimerman Advisors LLC now owns 16,799 shares of the coffee company’s stock valued at $1,533,000 after acquiring an additional 135 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SBUX has been the topic of a number of recent analyst reports. Wells Fargo & Company lifted their price objective on shares of Starbucks from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Tuesday, February 25th. UBS Group boosted their target price on shares of Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Wedbush boosted their target price on shares of Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Barclays boosted their target price on shares of 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 boosted their target price on shares of Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $105.75.

Starbucks Trading Up 2.2 %

Shares of NASDAQ SBUX opened at $98.11 on Monday. The firm’s 50-day moving average price is $104.82 and its 200-day moving average price is $99.25. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $117.46. The firm has a market capitalization 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 quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, beating 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 quarter last year, the company earned $0.90 EPS. Equities research analysts forecast that Starbucks Co. will post 2.99 EPS for the current year.

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.