Madison Investment Advisors LLC acquired a new stake in Starbucks Co. (NASDAQ:SBUX - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 544,004 shares of the coffee company's stock, valued at approximately $49,640,000.
Several other hedge funds have also recently bought and sold shares of SBUX. Financial Life Planners bought a new stake in Starbucks in the 4th quarter valued at about $25,000. Collier Financial bought a new stake in shares of Starbucks during the 4th quarter worth about $27,000. Marshall Investment Management LLC bought a new stake in shares of Starbucks during the 4th quarter worth about $30,000. Noble Wealth Management PBC bought a new stake in shares of Starbucks during the 4th quarter worth about $30,000. Finally, Centricity Wealth Management LLC bought a new stake in shares of Starbucks during the 4th quarter worth about $36,000. 72.29% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
SBUX has been the topic of a number of recent analyst reports. UBS Group boosted their price target 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. Barclays boosted their target price on shares of Starbucks from $119.00 to $124.00 and gave the stock an "overweight" rating in a report on Wednesday, January 29th. Wells Fargo & Company boosted 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 lifted their target price on shares of Starbucks from $110.00 to $115.00 and gave the stock an "outperform" rating in a research report on Wednesday, January 29th. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $115.00 target price on shares of Starbucks in a research report on Friday, January 24th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Starbucks presently has a consensus rating of "Moderate Buy" and an average price target of $105.75.
Check Out Our Latest Stock Report on SBUX
Starbucks Trading Down 0.9 %
Shares of NASDAQ SBUX opened at $98.69 on Thursday. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $117.46. The company has a market cap of $112.10 billion, a PE ratio of 31.84, a P/E/G ratio of 3.59 and a beta of 0.99. The company has a 50-day moving average of $104.63 and a two-hundred day moving average of $99.22.
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 for the quarter, topping 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 business earned $0.90 earnings per share. As a group, equities research analysts forecast that Starbucks Co. will post 2.99 earnings per share for the current year.
About Starbucks
(
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.
Further Reading
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