Guardian Partners Inc. acquired a new position in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 52,683 shares of the coffee company's stock, valued at approximately $4,878,000.
A number of other hedge funds have also recently bought and sold shares of the company. Wellington Management Group LLP grew its stake in shares of 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 purchasing an additional 7,598,146 shares during the period. FMR LLC boosted its holdings in Starbucks by 55.0% during the third quarter. FMR LLC now owns 19,779,859 shares of the coffee company's stock worth $1,928,339,000 after buying an additional 7,015,375 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Starbucks during the 4th quarter worth about $284,283,000. Assenagon Asset Management S.A. increased its stake in shares of Starbucks by 1,491.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 2,808,571 shares of the coffee company's stock valued at $256,282,000 after acquiring an additional 2,632,087 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Starbucks by 1,078.5% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,545,419 shares of the coffee company's stock valued at $248,153,000 after acquiring an additional 2,329,431 shares during the period. 72.29% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of equities analysts have recently weighed in on the stock. Barclays lifted their price target 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. BMO Capital Markets lifted their target price on Starbucks from $110.00 to $115.00 and gave the stock an "outperform" rating in a report on Wednesday, January 29th. Wedbush increased their price target on Starbucks from $95.00 to $100.00 and gave the stock a "neutral" rating in a report on Wednesday, January 29th. UBS Group lifted their price objective on Starbucks from $98.00 to $105.00 and gave the company a "neutral" rating in a report on Wednesday, January 29th. Finally, Argus raised Starbucks from a "hold" rating to a "buy" rating and set a $115.00 target price for the company in a research note on Tuesday, March 18th. 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's stock. According to data from MarketBeat, Starbucks currently has an average rating of "Moderate Buy" and a consensus target price of $106.12.
Read Our Latest Stock Analysis on Starbucks
Starbucks Trading Up 1.2 %
Starbucks stock traded up $1.19 during mid-day trading on Thursday, reaching $99.16. The company had a trading volume of 831,022 shares, compared to its average volume of 10,585,555. The business has a fifty day simple moving average of $105.61 and a 200 day simple moving average of $99.47. The company has a market cap of $112.64 billion, a P/E ratio of 31.99, a P/E/G ratio of 3.59 and a beta of 0.99. 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 results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, topping the consensus estimate 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. Research analysts forecast that Starbucks Co. will post 2.99 EPS for the current year.
Starbucks Company Profile
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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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