Korea Investment CORP Purchases 61,900 Shares of Starbucks Co. (NASDAQ:SBUX)

Korea Investment CORP boosted its position in Starbucks Co. (NASDAQ:SBUX - Free Report) by 12.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 566,965 shares of the coffee company's stock after acquiring an additional 61,900 shares during the quarter. Korea Investment CORP's holdings in Starbucks were worth $51,736,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Financial Life Planners bought a new position in Starbucks in the fourth quarter valued at about $25,000. Graney & King LLC bought a new stake in Starbucks during the fourth quarter valued at $26,000. Collier Financial bought a new stake in Starbucks in the fourth quarter worth approximately $27,000. Runnymede Capital Advisors Inc. bought a new stake in shares of Starbucks in the 4th quarter valued at $27,000. Finally, Marshall Investment Management LLC acquired a new position in shares of Starbucks during the fourth quarter valued at about $30,000. Institutional investors own 72.29% of the company's stock.

Starbucks Stock Up 0.1 %

SBUX traded up $0.14 during trading hours on Tuesday, hitting $98.23. The stock had a trading volume of 5,864,791 shares, compared to its average volume of 11,117,906. 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 $105.81 and its 200 day simple moving average is $99.54. The stock has a market cap of $111.58 billion, a PE ratio of 31.69, a price-to-earnings-growth ratio of 3.59 and a beta of 0.99.

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Starbucks (NASDAQ:SBUX - Get Free Report) last posted its earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, topping the consensus estimate 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 in the prior year, the business earned $0.90 earnings per share. As a group, equities analysts expect that Starbucks Co. will post 2.99 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SBUX. BMO Capital Markets increased their price target on Starbucks from $110.00 to $115.00 and gave the stock an "outperform" rating in a report on Wednesday, January 29th. UBS Group increased their target price on Starbucks from $98.00 to $105.00 and gave the stock a "neutral" rating in a report on Wednesday, January 29th. Wedbush boosted 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. Barclays raised their price objective on shares of Starbucks from $119.00 to $124.00 and gave the company an "overweight" rating in a research note on Wednesday, January 29th. Finally, Stifel Nicolaus boosted their target price on shares of Starbucks from $110.00 to $114.00 and gave the stock a "buy" rating in a research report on Monday, January 27th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $106.12.

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.