ZEGA Investments LLC bought a new stake in Starbucks Co. (NASDAQ:SBUX - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 10,926 shares of the coffee company's stock, valued at approximately $1,080,000.
Other institutional investors and hedge funds have also bought and sold shares of the company. Quest Partners LLC acquired a new position in Starbucks during the 3rd quarter valued at about $115,000. Segall Bryant & Hamill LLC acquired a new position in Starbucks during the 3rd quarter valued at approximately $8,832,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Starbucks in the third quarter worth $7,675,000. LPL Financial LLC grew its holdings in shares of Starbucks by 4.6% during the third quarter. LPL Financial LLC now owns 1,948,686 shares of the coffee company's stock valued at $189,977,000 after buying an additional 85,255 shares during the last quarter. Finally, Integrated Investment Consultants LLC increased its position in shares of Starbucks by 14.2% in the 3rd quarter. Integrated Investment Consultants LLC now owns 3,691 shares of the coffee company's stock valued at $360,000 after acquiring an additional 460 shares during the period. 72.29% of the stock is owned by hedge funds and other institutional investors.
Starbucks Stock Performance
Shares of NASDAQ SBUX traded up $2.09 during mid-day trading on Wednesday, reaching $97.97. The company's stock had a trading volume of 9,559,283 shares, compared to its average volume of 10,603,872. The stock has a 50-day moving average of $105.51 and a two-hundred day moving average of $99.48. The stock has a market capitalization of $111.28 billion, a P/E ratio of 31.60, a P/E/G ratio of 3.59 and a beta of 0.99. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $117.46.
Starbucks (NASDAQ:SBUX - Get Free Report) last posted its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 period last year, the firm earned $0.90 earnings per share. Analysts predict that Starbucks Co. will post 2.99 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
SBUX has been the subject of a number of research reports. BMO Capital Markets lifted their price target on Starbucks from $110.00 to $115.00 and gave the stock an "outperform" rating in a research report on Wednesday, January 29th. Stifel Nicolaus raised their target price on shares of Starbucks from $110.00 to $114.00 and gave the stock a "buy" rating in a report on Monday, January 27th. Wells Fargo & Company upped their price target on shares of Starbucks from $115.00 to $125.00 and gave the company an "overweight" rating in a report on Tuesday, February 25th. Barclays lifted 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. Finally, Argus upgraded Starbucks from a "hold" rating to a "buy" rating and set a $115.00 target price on the stock in a research note on Tuesday, March 18th. Three analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $106.12.
View Our Latest Stock Analysis on SBUX
About Starbucks
(
Free Report)
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.
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