Vanguard Group Inc. Acquires 784,432 Shares of Starbucks Co. (NASDAQ:SBUX)

Vanguard Group Inc. grew its position in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 0.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 111,106,209 shares of the coffee company's stock after purchasing an additional 784,432 shares during the quarter. Vanguard Group Inc. owned approximately 9.78% of Starbucks worth $10,138,442,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in SBUX. Quest Partners LLC acquired a new position in Starbucks during the 3rd quarter worth about $115,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Starbucks during the third quarter valued at approximately $7,675,000. Integrated Investment Consultants LLC raised its position in shares of Starbucks by 14.2% during the third quarter. Integrated Investment Consultants LLC now owns 3,691 shares of the coffee company's stock worth $360,000 after purchasing an additional 460 shares during the period. Pacer Advisors Inc. raised its position in shares of Starbucks by 4.0% during the third quarter. Pacer Advisors Inc. now owns 139,527 shares of the coffee company's stock worth $13,602,000 after purchasing an additional 5,397 shares during the period. Finally, Eagle Asset Management Inc. bought a new position in shares of Starbucks in the 3rd quarter worth $48,143,000. 72.29% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on SBUX. Wedbush upped their price objective on shares of Starbucks from $95.00 to $100.00 and gave the stock a "neutral" rating in a report on Wednesday, January 29th. BMO Capital Markets upped their price objective 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. UBS Group increased their price objective on shares of Starbucks from $98.00 to $105.00 and gave the company a "neutral" rating in a research note on Wednesday, January 29th. Wells Fargo & Company upped their target price on Starbucks from $115.00 to $125.00 and gave the company an "overweight" rating in a report on Tuesday, February 25th. Finally, Stifel Nicolaus boosted their price objective on Starbucks from $110.00 to $114.00 and gave the stock a "buy" rating in a research report on Monday, January 27th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $106.12.

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Starbucks Stock Performance

Starbucks stock traded up $1.07 during midday trading on Thursday, hitting $99.04. 1,274,936 shares of the company's stock were exchanged, compared to its average volume of 10,586,805. The company has a market cap of $112.50 billion, a P/E ratio of 31.93, a PEG ratio of 3.59 and a beta of 0.99. The stock has a 50-day moving average price of $105.61 and a two-hundred day moving average price of $99.47. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $117.46.

Starbucks (NASDAQ:SBUX - Get Free Report) last posted its quarterly earnings data 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 previous year, the business earned $0.90 EPS. As a group, sell-side analysts expect that Starbucks Co. will post 2.99 earnings per share for the current year.

Starbucks 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.