AssuredPartners Investment Advisors LLC Makes New $2.44 Million Investment in Starbucks Co. (NASDAQ:SBUX)

AssuredPartners Investment Advisors LLC acquired a new position in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 26,718 shares of the coffee company's stock, valued at approximately $2,438,000.

Several other large investors have also made changes to their positions in the business. NEOS Investment Management LLC lifted its stake in shares of Starbucks by 25.1% in the fourth quarter. NEOS Investment Management LLC now owns 148,056 shares of the coffee company's stock valued at $13,510,000 after buying an additional 29,690 shares during the period. UniSuper Management Pty Ltd raised its stake in shares of Starbucks by 4.3% in the fourth quarter. UniSuper Management Pty Ltd now owns 384,906 shares of the coffee company's stock valued at $35,123,000 after purchasing an additional 16,032 shares in the last quarter. WINTON GROUP Ltd lifted its position in Starbucks by 187.1% in the fourth quarter. WINTON GROUP Ltd now owns 149,025 shares of the coffee company's stock worth $13,599,000 after purchasing an additional 97,117 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Starbucks by 9.1% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,949,296 shares of the coffee company's stock worth $180,466,000 after buying an additional 162,897 shares in the last quarter. Finally, Korea Investment CORP increased its holdings in Starbucks by 12.3% in the 4th quarter. Korea Investment CORP now owns 566,965 shares of the coffee company's stock valued at $51,736,000 after buying an additional 61,900 shares during the period. Institutional investors and hedge funds own 72.29% of the company's stock.

Remove Ads

Starbucks Price Performance

SBUX traded down $0.10 during trading on Monday, hitting $97.63. 3,888,504 shares of the stock traded hands, compared to its average volume of 9,758,641. The business has a 50 day moving average price of $105.75 and a 200 day moving average price of $99.55. The company has a market cap of $110.90 billion, a price-to-earnings ratio of 31.49, a PEG ratio of 3.59 and a beta of 0.99. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $117.46.

Starbucks (NASDAQ:SBUX - Get Free Report) last released its earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, beating 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 firm earned $0.90 EPS. On average, equities research analysts predict that Starbucks Co. will post 2.99 earnings per share for the current year.

Analyst Upgrades and Downgrades

SBUX has been the subject of several analyst reports. Wells Fargo & Company raised their target price on Starbucks from $115.00 to $125.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 25th. BMO Capital Markets lifted their target price on Starbucks from $110.00 to $115.00 and gave the company an "outperform" rating in a research note on Wednesday, January 29th. Argus raised shares of Starbucks from a "hold" rating to a "buy" rating and set a $115.00 price objective on the stock in a research note on Tuesday, March 18th. Wedbush increased their price target on shares of Starbucks from $95.00 to $100.00 and gave the company a "neutral" rating in a research report on Wednesday, January 29th. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $115.00 price objective on shares of Starbucks in a research report on Friday, January 24th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $106.12.

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.