Harvest Fund Management Co. Ltd Increases Stock Position in Starbucks Co. (NASDAQ:SBUX)

Harvest Fund Management Co. Ltd increased its stake in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 17.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 66,971 shares of the coffee company's stock after purchasing an additional 10,019 shares during the quarter. Harvest Fund Management Co. Ltd's holdings in Starbucks were worth $6,081,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Financial Life Planners purchased a new position in Starbucks during the fourth quarter worth about $25,000. Collier Financial purchased a new position in shares of Starbucks during the 4th quarter worth approximately $27,000. Marshall Investment Management LLC acquired a new stake in shares of Starbucks in the 4th quarter valued at approximately $30,000. Noble Wealth Management PBC purchased a new stake in shares of Starbucks in the fourth quarter valued at approximately $30,000. Finally, Centricity Wealth Management LLC acquired a new position in Starbucks during the fourth quarter worth $36,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Stock Performance

Shares of NASDAQ:SBUX traded down $2.21 during trading on Friday, reaching $97.07. 11,365,165 shares of the stock were exchanged, compared to its average volume of 10,616,667. The firm's 50-day moving average price is $105.41 and its 200 day moving average price is $99.36. The firm has a market cap of $110.26 billion, a price-to-earnings ratio of 31.31, a price-to-earnings-growth ratio of 3.59 and a beta of 0.99. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $117.46.

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Starbucks (NASDAQ:SBUX - Get Free Report) last released its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, topping 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 quarter in the prior year, the company earned $0.90 earnings per share. As a group, equities research analysts forecast that Starbucks Co. will post 2.99 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have commented on SBUX. Royal Bank of Canada reissued an "outperform" rating and issued a $115.00 target price on shares of Starbucks in a report on Friday, January 24th. Stifel Nicolaus boosted 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. Wedbush increased their target price on shares of Starbucks from $95.00 to $100.00 and gave the company a "neutral" rating in a report on Wednesday, January 29th. UBS Group lifted their price target on shares of Starbucks from $98.00 to $105.00 and gave the company a "neutral" rating in a research report on Wednesday, January 29th. Finally, BMO Capital Markets upped their price target on Starbucks from $110.00 to $115.00 and gave the stock an "outperform" rating in a report on Wednesday, January 29th. 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 company's stock. According to data from MarketBeat.com, the stock currently has a consensus 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.