Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 9.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,949,296 shares of the coffee company's stock after acquiring an additional 162,897 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.17% of Starbucks worth $180,466,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in SBUX. Quest Partners LLC acquired a new position in shares of Starbucks during the third quarter valued at $115,000. CreativeOne Wealth LLC raised its position in Starbucks by 26.8% in the third quarter. CreativeOne Wealth LLC now owns 9,960 shares of the coffee company's stock worth $971,000 after acquiring an additional 2,106 shares in the last quarter. Providence Capital Advisors LLC lifted its holdings in Starbucks by 18.4% in the 3rd quarter. Providence Capital Advisors LLC now owns 74,483 shares of the coffee company's stock valued at $7,261,000 after acquiring an additional 11,553 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Starbucks by 7.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 498,894 shares of the coffee company's stock worth $48,637,000 after purchasing an additional 34,963 shares during the last quarter. Finally, Public Sector Pension Investment Board raised its holdings in shares of Starbucks by 930.0% in the 3rd quarter. Public Sector Pension Investment Board now owns 449,433 shares of the coffee company's stock worth $43,815,000 after purchasing an additional 405,800 shares in the last quarter. Institutional investors own 72.29% of the company's stock.
Starbucks Stock Performance
Shares of NASDAQ:SBUX traded up $0.14 during midday trading on Tuesday, hitting $98.23. The company's stock had a trading volume of 5,864,791 shares, compared to its average volume of 11,117,906. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $117.46. The stock has a market capitalization of $111.58 billion, a price-to-earnings ratio of 31.69, a PEG ratio of 3.59 and a beta of 0.99. The stock's 50 day simple moving average is $105.81 and its 200 day simple moving average is $99.54.
Starbucks (NASDAQ:SBUX - Get Free Report) last issued its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, topping 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 prior year, the company posted $0.90 EPS. As a group, analysts anticipate that Starbucks Co. will post 2.99 EPS for the current year.
Wall Street Analysts Forecast Growth
Several research firms have issued reports on SBUX. Wells Fargo & Company lifted their price target on shares of Starbucks from $115.00 to $125.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 25th. Barclays lifted their price target on Starbucks from $119.00 to $124.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 29th. Wedbush upped 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. UBS Group boosted their price target on shares of Starbucks from $98.00 to $105.00 and gave the company a "neutral" rating in a report on Wednesday, January 29th. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $115.00 price objective on shares of Starbucks in a research report on Friday, January 24th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Starbucks has a consensus rating of "Moderate Buy" and an average target price of $106.12.
View Our Latest Research Report on SBUX
Starbucks Company Profile
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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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