Pictet Asset Management Holding SA Acquires 11,262 Shares of Starbucks Co. (NASDAQ:SBUX)

Pictet Asset Management Holding SA boosted its position in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 0.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,583,296 shares of the coffee company's stock after purchasing an additional 11,262 shares during the period. Pictet Asset Management Holding SA owned about 0.14% of Starbucks worth $144,476,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SBUX. Wintrust Investments LLC boosted its holdings in shares of 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 acquiring an additional 94 shares in the last quarter. Kuhn & Co Investment Counsel boosted its stake in Starbucks by 2.3% in the fourth quarter. Kuhn & Co Investment Counsel now owns 4,240 shares of the coffee company's stock worth $387,000 after purchasing an additional 96 shares in the last quarter. Wellington Shields & Co. LLC boosted its stake in Starbucks by 8.6% in the fourth quarter. Wellington Shields & Co. LLC now owns 1,265 shares of the coffee company's stock worth $115,000 after purchasing an additional 100 shares in the last quarter. Mystic Asset Management Inc. grew its holdings 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 worth $243,000 after purchasing an additional 101 shares during the last quarter. Finally, Jmac Enterprises LLC increased its stake in shares of Starbucks by 1.0% in the fourth quarter. Jmac Enterprises LLC now owns 9,995 shares of the coffee company's stock valued at $912,000 after buying an additional 103 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. BMO Capital Markets upped their price target 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. Wedbush increased their price target 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 objective 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. Stifel Nicolaus boosted their target price on Starbucks from $110.00 to $114.00 and gave the stock a "buy" rating in a research report on Monday, January 27th. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $115.00 price target 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 assigned a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $106.12.

Starbucks Price Performance

SBUX traded up $0.36 during trading on Monday, reaching $98.09. The company had a trading volume of 11,298,628 shares, compared to its average volume of 11,114,630. The company has a market cap of $111.42 billion, a P/E ratio of 31.64, a PEG ratio of 3.59 and a beta of 0.99. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $117.46. The business's fifty day moving average price is $105.75 and its 200 day moving average price is $99.55.

Starbucks (NASDAQ:SBUX - Get Free Report) last announced its 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 period last year, the firm posted $0.90 earnings per share. As a group, sell-side analysts predict that Starbucks Co. will post 2.99 EPS for the current fiscal year.

About Starbucks

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.