KLP Kapitalforvaltning AS bought a new stake in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 382,173 shares of the coffee company's stock, valued at approximately $34,873,000.
A number of other large investors also recently made changes to their positions in SBUX. Quest Partners LLC acquired a new stake in shares of Starbucks during the 3rd quarter valued at $115,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Starbucks during the third quarter valued at $7,675,000. Integrated Investment Consultants LLC grew its stake in Starbucks by 14.2% in the third quarter. Integrated Investment Consultants LLC now owns 3,691 shares of the coffee company's stock valued at $360,000 after purchasing an additional 460 shares in the last quarter. Pacer Advisors Inc. increased its position in Starbucks by 4.0% in the 3rd quarter. Pacer Advisors Inc. now owns 139,527 shares of the coffee company's stock worth $13,602,000 after purchasing an additional 5,397 shares during the last quarter. Finally, Eagle Asset Management Inc. purchased a new stake in shares of Starbucks during the 3rd quarter worth about $48,143,000. Institutional investors and hedge funds own 72.29% of the company's stock.
Starbucks Stock Performance
Shares of SBUX traded up $2.09 during trading hours on Wednesday, reaching $97.97. 9,559,283 shares of the company traded hands, compared to its average volume of 10,623,140. The stock's fifty day moving average is $105.61 and its 200 day moving average is $99.47. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $117.46. The stock has a market cap of $111.28 billion, a P/E ratio of 31.60, a price-to-earnings-growth ratio of 3.59 and a beta of 0.99.
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 negative return on equity of 44.97% and a net margin of 9.73%. During the same period in the previous year, the business posted $0.90 earnings per share. On average, equities research analysts predict that Starbucks Co. will post 2.99 EPS for the current year.
Analyst Upgrades and Downgrades
Several equities research analysts recently commented on the company. Barclays boosted their price target on Starbucks from $119.00 to $124.00 and gave the company an "overweight" rating in a research note on Wednesday, January 29th. Argus raised shares of Starbucks from a "hold" rating to a "buy" rating and set a $115.00 target price for the company in a research report on Tuesday, March 18th. Wedbush raised their price target on shares of Starbucks from $95.00 to $100.00 and gave the company a "neutral" rating in a report on Wednesday, January 29th. BMO Capital Markets upped their price objective on shares of Starbucks from $110.00 to $115.00 and gave the stock an "outperform" rating in a report on Wednesday, January 29th. Finally, Royal Bank of Canada restated an "outperform" rating and set a $115.00 target price on shares of Starbucks in a report on Friday, January 24th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $106.12.
Get Our Latest Analysis on SBUX
Starbucks Company Profile
(
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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