GWN Securities Inc. purchased a new position in shares of Starbucks Co. (NASDAQ:SBUX – Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 2,227 shares of the coffee company’s stock, valued at approximately $219,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Strategic Financial Concepts LLC bought a new position in Starbucks in the 4th quarter valued at approximately $62,000. Arizona State Retirement System lifted its stake in Starbucks by 0.8% in the 4th quarter. Arizona State Retirement System now owns 327,459 shares of the coffee company’s stock valued at $29,881,000 after purchasing an additional 2,722 shares during the last quarter. West Michigan Advisors LLC bought a new position in Starbucks in the 4th quarter valued at approximately $265,000. Wernau Asset Management Inc. bought a new position in Starbucks in the 4th quarter valued at approximately $258,000. Finally, Investment Management Corp of Ontario lifted its stake in Starbucks by 48.6% in the 3rd quarter. Investment Management Corp of Ontario now owns 37,584 shares of the coffee company’s stock valued at $3,664,000 after purchasing an additional 12,300 shares during the last quarter. Institutional investors own 72.29% of the company’s stock.
Wall Street Analysts Forecast Growth
Several brokerages recently commented on SBUX. Wedbush increased their price objective on shares of Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Barclays increased their price objective on shares of Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. UBS Group upped their price target on shares of Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Wells Fargo & Company upped their price target on shares of Starbucks from $115.00 to $125.00 and gave the company an “overweight” rating in a research report on Tuesday, February 25th. Finally, BMO Capital Markets upped their price target 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. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $105.75.
Starbucks Stock Up 1.0 %
Shares of NASDAQ SBUX opened at $99.08 on Tuesday. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $117.46. The firm has a market cap of $112.54 billion, a PE ratio of 31.96, a P/E/G ratio of 3.59 and a beta of 0.99. The company’s fifty day simple moving average is $104.94 and its 200 day simple moving average is $99.28.
Starbucks (NASDAQ:SBUX – Get Free Report) last released its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, beating 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 business earned $0.90 EPS. On average, equities analysts predict that Starbucks Co. will post 2.99 earnings per share for the current year.
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.
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