Bestgate Wealth Advisors LLC Makes New Investment in Starbucks Co. (NASDAQ:SBUX)

Bestgate Wealth Advisors LLC purchased a new stake in Starbucks Co. (NASDAQ:SBUX - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 3,357 shares of the coffee company's stock, valued at approximately $306,000.

Other hedge funds also recently made changes to their positions in the company. Financial Life Planners bought a new position in Starbucks in the 4th quarter valued at about $25,000. Collier Financial bought a new position in shares of Starbucks in the fourth quarter valued at approximately $27,000. Marshall Investment Management LLC acquired a new position in shares of Starbucks during the fourth quarter valued at approximately $30,000. Noble Wealth Management PBC bought a new stake in Starbucks during the fourth quarter worth approximately $30,000. Finally, Centricity Wealth Management LLC acquired a new stake in Starbucks in the fourth quarter worth approximately $36,000. Institutional investors own 72.29% of the company's stock.

Starbucks Price Performance

NASDAQ:SBUX traded down $2.21 during mid-day trading on Friday, reaching $97.07. The stock had a trading volume of 11,365,165 shares, compared to its average volume of 10,616,667. The stock has a market cap of $110.26 billion, a P/E ratio of 31.31, a PEG ratio of 3.59 and a beta of 0.99. The business's 50 day moving average is $105.41 and its 200 day moving average is $99.36. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $117.46.

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 (EPS) 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 period last year, the firm posted $0.90 earnings per share. Equities analysts expect that Starbucks Co. will post 2.99 EPS for the current year.

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Analyst Ratings Changes

Several brokerages have recently issued reports on SBUX. Barclays lifted their price target on Starbucks from $119.00 to $124.00 and gave the company an "overweight" rating in a research report on Wednesday, January 29th. Stifel Nicolaus boosted their price target on shares of Starbucks from $110.00 to $114.00 and gave the stock a "buy" rating in a research report on Monday, January 27th. Wells Fargo & Company raised their price objective 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. Royal Bank of Canada reiterated an "outperform" rating and issued a $115.00 target price on shares of Starbucks in a report on Friday, January 24th. Finally, UBS Group raised their target price on shares of Starbucks from $98.00 to $105.00 and gave the stock a "neutral" rating in a report on Wednesday, January 29th. Three analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $106.12.

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.