Sierra Ocean LLC Takes Position in Starbucks Co. (NASDAQ:SBUX)

Sierra Ocean LLC acquired a new position in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 2,565 shares of the coffee company's stock, valued at approximately $234,000.

Other hedge funds also recently added to or reduced their stakes in the company. Financial Life Planners acquired a new stake in shares of Starbucks in the 4th quarter valued at approximately $25,000. Collier Financial acquired a new stake in shares of Starbucks in the 4th quarter valued at approximately $27,000. DT Investment Partners LLC lifted its holdings in shares of Starbucks by 39.4% in the 3rd quarter. DT Investment Partners LLC now owns 428 shares of the coffee company's stock valued at $42,000 after buying an additional 121 shares during the period. FSA Wealth Management LLC acquired a new stake in shares of Starbucks in the 3rd quarter valued at approximately $49,000. Finally, Friedenthal Financial acquired a new stake in shares of Starbucks in the 3rd quarter valued at approximately $50,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently commented on SBUX. TD Cowen reissued a "buy" rating and issued a $110.00 price target on shares of Starbucks in a report on Monday, November 11th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $115.00 price objective on shares of Starbucks in a research note on Friday, January 24th. Barclays raised their price objective on Starbucks from $119.00 to $124.00 and gave the company an "overweight" rating in a research note on Wednesday, January 29th. Citigroup raised their price objective on Starbucks from $96.00 to $99.00 and gave the company a "neutral" rating in a research note on Thursday, October 31st. Finally, Wedbush raised their price objective on Starbucks from $95.00 to $100.00 and gave the company a "neutral" rating in a research note on Wednesday, January 29th. 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 given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $105.33.

Starbucks Stock Performance

NASDAQ SBUX traded up $0.85 during trading hours on Thursday, hitting $113.34. 6,340,640 shares of the company's stock were exchanged, compared to its average volume of 9,794,619. The business's 50 day moving average is $99.13 and its 200-day moving average is $96.77. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $113.50. The firm has a market capitalization of $128.74 billion, a P/E ratio of 36.56, a price-to-earnings-growth ratio of 3.56 and a beta of 1.00.

Starbucks (NASDAQ:SBUX - Get Free Report) last announced 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 quarter last year, the firm earned $0.90 earnings per share. As a group, equities research analysts anticipate that Starbucks Co. will post 3 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.