Clearbridge Investments LLC increased its stake in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 2.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,760,722 shares of the coffee company's stock after buying an additional 91,841 shares during the period. Clearbridge Investments LLC owned about 0.42% of Starbucks worth $434,416,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in SBUX. Norges Bank purchased a new position in Starbucks in the fourth quarter valued at approximately $1,244,812,000. Wellington Management Group LLP raised its stake in shares of Starbucks by 100.6% in the third quarter. Wellington Management Group LLP now owns 15,149,937 shares of the coffee company's stock valued at $1,476,967,000 after buying an additional 7,598,146 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Starbucks during the 4th quarter valued at $284,283,000. Assenagon Asset Management S.A. grew its stake in shares of Starbucks by 1,491.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,808,571 shares of the coffee company's stock worth $256,282,000 after acquiring an additional 2,632,087 shares during the period. Finally, Zurich Insurance Group Ltd FI purchased a new stake in Starbucks in the 3rd quarter worth about $126,574,000. Institutional investors own 72.29% of the company's stock.
Starbucks Stock Up 0.1 %
Shares of Starbucks stock traded up $0.14 during trading on Tuesday, reaching $98.23. The company's stock had a trading volume of 5,864,791 shares, compared to its average volume of 11,117,903. The company has a market cap of $111.58 billion, a price-to-earnings ratio of 31.69, a PEG ratio of 3.59 and a beta of 0.99. The firm's 50-day moving average is $105.81 and its two-hundred day moving average is $99.54. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $117.46.
Starbucks (NASDAQ:SBUX - Get Free Report) last announced its quarterly earnings data 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 quarter in the previous year, the company earned $0.90 EPS. On average, equities research analysts anticipate that Starbucks Co. will post 2.99 EPS for the current year.
Analysts Set New Price Targets
Several research firms have commented on SBUX. BMO Capital Markets upped their price objective on shares of Starbucks from $110.00 to $115.00 and gave the company an "outperform" rating in a report on Wednesday, January 29th. Stifel Nicolaus raised their price objective on shares of Starbucks from $110.00 to $114.00 and gave the stock a "buy" rating in a report on Monday, January 27th. Argus upgraded shares of Starbucks from a "hold" rating to a "buy" rating and set a $115.00 price objective for the company in a research note on Tuesday, March 18th. Royal Bank of Canada restated an "outperform" rating and set a $115.00 target price on shares of Starbucks in a research report on Friday, January 24th. Finally, Wells Fargo & Company lifted their price target on Starbucks from $115.00 to $125.00 and gave the company an "overweight" rating in a research report on Tuesday, February 25th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Starbucks has a consensus rating of "Moderate Buy" and a consensus price target of $106.12.
View Our Latest Stock Report on SBUX
About Starbucks
(
Free Report)
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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