DnB Asset Management AS Raises Position in Starbucks Co. (NASDAQ:SBUX)

DnB Asset Management AS boosted its holdings in Starbucks Co. (NASDAQ:SBUX - Free Report) by 6.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 205,456 shares of the coffee company's stock after purchasing an additional 11,822 shares during the quarter. DnB Asset Management AS's holdings in Starbucks were worth $18,748,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of SBUX. Financial Life Planners bought a new stake in shares of Starbucks during the fourth quarter worth about $25,000. Graney & King LLC purchased a new stake in shares of Starbucks in the fourth quarter worth approximately $26,000. Collier Financial bought a new position in shares of Starbucks in the fourth quarter valued at approximately $27,000. Runnymede Capital Advisors Inc. purchased a new position in shares of Starbucks during the fourth quarter valued at approximately $27,000. Finally, Marshall Investment Management LLC bought a new stake in Starbucks during the fourth quarter worth $30,000. Institutional investors own 72.29% of the company's stock.

Starbucks Price Performance

NASDAQ SBUX traded up $0.36 during trading on Monday, reaching $98.09. The company's stock had a trading volume of 11,298,628 shares, compared to its average volume of 11,114,630. The firm has a fifty day moving average of $105.75 and a 200 day moving average of $99.55. The stock has a market capitalization of $111.42 billion, a PE ratio of 31.64, a P/E/G ratio of 3.59 and a beta of 0.99. Starbucks Co. has a one year low of $71.55 and a one year high of $117.46.

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Starbucks (NASDAQ:SBUX - Get Free Report) last released its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, topping 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 in the previous year, the firm posted $0.90 earnings per share. Research analysts expect that Starbucks Co. will post 2.99 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on SBUX. Barclays increased their target price on shares of Starbucks from $119.00 to $124.00 and gave the company an "overweight" rating in a report on Wednesday, January 29th. 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. 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. BMO Capital Markets boosted their target price on shares of Starbucks from $110.00 to $115.00 and gave the company an "outperform" rating in a research note on Wednesday, January 29th. Finally, UBS Group raised their price target 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. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $106.12.

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.