Hardy Reed LLC Acquires New Shares in Starbucks Co. (NASDAQ:SBUX)

Hardy Reed LLC purchased a new stake in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 11,148 shares of the coffee company's stock, valued at approximately $1,017,000.

A number of other large investors have also recently bought and sold shares of the business. Strategic Financial Concepts LLC bought a new position in Starbucks during the fourth quarter worth $62,000. Dakota Wealth Management raised its holdings in shares of Starbucks by 0.5% during the third quarter. Dakota Wealth Management now owns 55,793 shares of the coffee company's stock valued at $5,439,000 after purchasing an additional 300 shares during the period. Weil Company Inc. boosted its position in shares of Starbucks by 31.2% during the 3rd quarter. Weil Company Inc. now owns 34,580 shares of the coffee company's stock worth $3,371,000 after purchasing an additional 8,222 shares in the last quarter. Maia Wealth LLC grew its stake in shares of Starbucks by 69.1% in the 3rd quarter. Maia Wealth LLC now owns 18,582 shares of the coffee company's stock valued at $1,805,000 after buying an additional 7,596 shares during the period. Finally, Investment Management Corp of Ontario increased its position in Starbucks by 48.6% in the 3rd quarter. Investment Management Corp of Ontario now owns 37,584 shares of the coffee company's stock valued at $3,664,000 after buying an additional 12,300 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on SBUX shares. Barclays increased their price target on Starbucks from $119.00 to $124.00 and gave the stock an "overweight" rating in a report on Wednesday, January 29th. Royal Bank of Canada restated an "outperform" rating and set a $115.00 price target on shares of Starbucks in a research note on Friday, January 24th. Redburn Atlantic reaffirmed a "sell" rating and issued a $77.00 price objective (down from $84.00) on shares of Starbucks in a research note on Wednesday, November 13th. UBS Group boosted their target price on shares of Starbucks from $98.00 to $105.00 and gave the stock a "neutral" rating in a research report on Wednesday, January 29th. Finally, TD Cowen reaffirmed a "buy" rating and issued a $110.00 price target on shares of Starbucks in a research report on Monday, November 11th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Starbucks presently has an average rating of "Moderate Buy" and a consensus price target of $105.33.

Starbucks Price Performance

Shares of Starbucks stock traded down $1.59 on Friday, reaching $111.75. 9,661,850 shares of the company traded hands, compared to its average volume of 9,790,830. The company has a 50 day moving average of $99.44 and a 200 day moving average of $96.89. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $114.68. The firm has a market capitalization of $126.94 billion, a PE ratio of 36.05, a PEG ratio of 3.56 and a beta of 1.00.

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 for the quarter, beating 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 last year, the business earned $0.90 earnings per share. As a group, analysts anticipate that Starbucks Co. will post 2.99 earnings per share for the current year.

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.