Hopwood Financial Services Inc. Invests $283,000 in Starbucks Co. (NASDAQ:SBUX)

Hopwood Financial Services Inc. bought a new position in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,106 shares of the coffee company's stock, valued at approximately $283,000.

Several other hedge funds have also recently modified their holdings of SBUX. CWA Asset Management Group LLC purchased a new position in Starbucks in the 3rd quarter valued at $485,000. Assetmark Inc. boosted its position in Starbucks by 5.8% during the third quarter. Assetmark Inc. now owns 35,347 shares of the coffee company's stock worth $3,446,000 after acquiring an additional 1,940 shares during the last quarter. Sigma Planning Corp grew its stake in Starbucks by 5.9% during the 3rd quarter. Sigma Planning Corp now owns 20,323 shares of the coffee company's stock valued at $1,981,000 after acquiring an additional 1,131 shares in the last quarter. Legacy Capital Wealth Partners LLC purchased a new position in Starbucks in the 3rd quarter worth approximately $267,000. Finally, Baker Avenue Asset Management LP acquired a new position in shares of Starbucks during the 3rd quarter worth approximately $215,000. Institutional investors and hedge funds own 72.29% of the company's stock.

Starbucks Trading Down 1.5 %

SBUX opened at $99.58 on Wednesday. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $117.46. The stock's 50 day simple moving average is $104.48 and its 200-day simple moving average is $99.23. The stock has a market cap of $113.11 billion, a PE ratio of 32.12, a P/E/G ratio of 3.59 and a beta of 0.99.

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Starbucks (NASDAQ:SBUX - Get Free Report) last posted its quarterly earnings results 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 period last year, the firm earned $0.90 earnings per share. Equities analysts forecast that Starbucks Co. will post 2.99 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

SBUX has been the topic of a number of recent research reports. Stifel Nicolaus boosted their price objective on Starbucks from $110.00 to $114.00 and gave the stock a "buy" rating in a research note on Monday, January 27th. Wedbush upped their price objective 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 target price 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. BMO Capital Markets increased their price target 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, Barclays lifted their price target on shares of Starbucks from $119.00 to $124.00 and gave the company an "overweight" rating in a research report on Wednesday, January 29th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $105.75.

Starbucks 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.

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