LPL Financial LLC Increases Stock Position in Starbucks Co. (NASDAQ:SBUX)

LPL Financial LLC lifted its position in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 7.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,096,630 shares of the coffee company's stock after buying an additional 147,944 shares during the period. LPL Financial LLC owned about 0.18% of Starbucks worth $191,382,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Wintrust Investments LLC increased its stake in Starbucks by 7.1% in the 4th quarter. Wintrust Investments LLC now owns 1,411 shares of the coffee company's stock worth $128,000 after buying an additional 94 shares during the period. Kuhn & Co Investment Counsel grew its stake in Starbucks by 2.3% in the 4th quarter. Kuhn & Co Investment Counsel now owns 4,240 shares of the coffee company's stock worth $387,000 after acquiring an additional 96 shares in the last quarter. Wellington Shields & Co. LLC raised its stake in shares of Starbucks by 8.6% during the fourth quarter. Wellington Shields & Co. LLC now owns 1,265 shares of the coffee company's stock valued at $115,000 after acquiring an additional 100 shares in the last quarter. Mystic Asset Management Inc. raised its stake in shares of Starbucks by 3.9% during the fourth quarter. Mystic Asset Management Inc. now owns 2,665 shares of the coffee company's stock valued at $243,000 after acquiring an additional 101 shares in the last quarter. Finally, Jmac Enterprises LLC grew its stake in Starbucks by 1.0% in the fourth quarter. Jmac Enterprises LLC now owns 9,995 shares of the coffee company's stock worth $912,000 after purchasing an additional 103 shares in the last quarter. Institutional investors own 72.29% of the company's stock.

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Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on SBUX shares. Stifel Nicolaus upped their target price on Starbucks from $110.00 to $114.00 and gave the stock a "buy" rating in a report on Monday, January 27th. Wells Fargo & Company increased their target price on shares of Starbucks from $115.00 to $125.00 and gave the stock an "overweight" rating in a report on Tuesday, February 25th. BMO Capital Markets boosted their price target on shares of Starbucks from $110.00 to $115.00 and gave the company an "outperform" rating in a report on Wednesday, January 29th. Wedbush increased their price objective on shares of Starbucks from $95.00 to $100.00 and gave the company a "neutral" rating in a research note 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 equities research analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $106.12.

Starbucks Price Performance

SBUX traded up $1.50 during trading on Thursday, reaching $99.47. 3,572,495 shares of the company's stock were exchanged, compared to its average volume of 10,596,643. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $117.46. The company's fifty day simple moving average is $105.61 and its 200-day simple moving average is $99.47. The stock has a market capitalization of $112.99 billion, a P/E ratio of 32.14, a price-to-earnings-growth ratio of 3.59 and a beta of 0.99.

Starbucks (NASDAQ:SBUX - Get Free Report) last posted its earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 firm earned $0.90 earnings per share. Equities analysts forecast that Starbucks Co. will post 2.99 EPS 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.