Generali Asset Management SPA SGR Acquires New Shares in Starbucks Co. (NASDAQ:SBUX)

Generali Asset Management SPA SGR acquired a new stake in Starbucks Co. (NASDAQ:SBUX - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 34,859 shares of the coffee company's stock, valued at approximately $3,181,000.

A number of other hedge funds have also modified their holdings of the business. State Street Corp raised its position in Starbucks by 1.0% during the 3rd quarter. State Street Corp now owns 45,974,407 shares of the coffee company's stock worth $4,482,045,000 after buying an additional 437,218 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Starbucks by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 24,277,756 shares of the coffee company's stock valued at $2,358,464,000 after buying an additional 333,004 shares during the period. FMR LLC boosted its stake in shares of Starbucks by 55.0% in the third quarter. FMR LLC now owns 19,779,859 shares of the coffee company's stock valued at $1,928,339,000 after buying an additional 7,015,375 shares in the last quarter. Wellington Management Group LLP grew its holdings in Starbucks by 100.6% during the third quarter. Wellington Management Group LLP now owns 15,149,937 shares of the coffee company's stock worth $1,476,967,000 after acquiring an additional 7,598,146 shares during the period. Finally, Fisher Asset Management LLC raised its position in Starbucks by 1.3% in the fourth quarter. Fisher Asset Management LLC now owns 11,916,777 shares of the coffee company's stock worth $1,087,406,000 after acquiring an additional 154,093 shares in the last quarter. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

Several equities research analysts have commented on the stock. BMO Capital Markets boosted their target price on shares of Starbucks from $110.00 to $115.00 and gave the stock an "outperform" rating in a research report on Wednesday, January 29th. Barclays upped their target price on shares of Starbucks from $119.00 to $124.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 29th. Royal Bank of Canada reiterated an "outperform" rating and set a $115.00 price target on shares of Starbucks in a research report on Friday, January 24th. Wells Fargo & Company upped their price target on Starbucks from $115.00 to $125.00 and gave the stock an "overweight" rating in a report on Tuesday, February 25th. Finally, Stifel Nicolaus lifted their price target on Starbucks from $110.00 to $114.00 and gave the stock a "buy" rating in a research note on Monday, January 27th. 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. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $106.12.

Starbucks Stock Performance

Shares of SBUX traded down $1.35 during trading hours on Monday, hitting $95.72. The stock had a trading volume of 8,258,116 shares, compared to its average volume of 10,607,230. 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 $108.73 billion, a P/E ratio of 30.88, a P/E/G ratio of 3.59 and a beta of 0.99. The company's fifty day simple moving average is $105.41 and its 200 day simple moving average is $99.41.

Starbucks (NASDAQ:SBUX - Get Free Report) last posted its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 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 business earned $0.90 EPS. As a group, sell-side analysts predict that Starbucks Co. will post 2.99 earnings per share for the current fiscal 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.