Waycross Partners LLC Boosts Position in Starbucks Co. (NASDAQ:SBUX)

Waycross Partners LLC increased its stake in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 3.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 181,599 shares of the coffee company's stock after acquiring an additional 5,306 shares during the quarter. Starbucks comprises approximately 2.1% of Waycross Partners LLC's portfolio, making the stock its 22nd largest holding. Waycross Partners LLC's holdings in Starbucks were worth $16,571,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Cardinal Capital Management raised its stake in Starbucks by 1.8% during the 4th quarter. Cardinal Capital Management now owns 83,631 shares of the coffee company's stock worth $7,631,000 after acquiring an additional 1,487 shares in the last quarter. Kestra Investment Management LLC acquired a new stake in Starbucks during the 4th quarter worth $80,000. Kornitzer Capital Management Inc. KS increased its stake in Starbucks by 5.2% in the fourth quarter. Kornitzer Capital Management Inc. KS now owns 27,471 shares of the coffee company's stock valued at $2,507,000 after purchasing an additional 1,355 shares during the period. Venturi Wealth Management LLC increased its stake in Starbucks by 84.8% in the fourth quarter. Venturi Wealth Management LLC now owns 4,953 shares of the coffee company's stock valued at $452,000 after purchasing an additional 2,273 shares during the period. Finally, D.A. Davidson & CO. increased its stake in Starbucks by 5.0% in the fourth quarter. D.A. Davidson & CO. now owns 205,528 shares of the coffee company's stock valued at $18,755,000 after purchasing an additional 9,830 shares during the period. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have commented on SBUX. Barclays lifted 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. Citigroup lifted their price objective on shares of Starbucks from $96.00 to $99.00 and gave the company a "neutral" rating in a research note on Thursday, October 31st. Royal Bank of Canada restated an "outperform" rating and issued a $115.00 price objective on shares of Starbucks in a research note on Friday, January 24th. TD Cowen reaffirmed a "buy" rating and issued a $110.00 target price on shares of Starbucks in a report on Monday, November 11th. Finally, Wedbush lifted their target price on shares of Starbucks from $95.00 to $100.00 and gave the company a "neutral" rating in a report on Wednesday, January 29th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $105.33.

Starbucks Trading Down 1.4 %

Shares of Starbucks stock traded down $1.59 during mid-day trading on Friday, hitting $111.75. 9,661,850 shares of the stock were exchanged, compared to its average volume of 9,790,830. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $114.68. The stock has a market capitalization of $126.94 billion, a price-to-earnings ratio of 36.05, a price-to-earnings-growth ratio of 3.56 and a beta of 1.00. The company has a 50-day simple moving average of $99.72 and a 200 day simple moving average of $97.15.

Starbucks (NASDAQ:SBUX - Get Free Report) last released its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) 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 quarter in the previous year, the company posted $0.90 EPS. Equities research analysts forecast that Starbucks Co. will post 2.99 earnings per share for the current fiscal 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.