7,721 Shares in Starbucks Co. (NASDAQ:SBUX) Purchased by Purkiss Capital Advisors LLC

Purkiss Capital Advisors LLC bought a new position in shares of Starbucks Co. (NASDAQ:SBUX) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 7,721 shares of the coffee company’s stock, valued at approximately $705,000.

Other institutional investors also recently modified their holdings of the company. Financial Life Planners acquired a new position in Starbucks during the fourth quarter worth $25,000. Collier Financial bought a new position in Starbucks during the fourth quarter worth about $27,000. Marshall Investment Management LLC purchased a new position in Starbucks during the 4th quarter valued at about $30,000. Noble Wealth Management PBC bought a new position in Starbucks in the 4th quarter valued at $30,000. Finally, Centricity Wealth Management LLC purchased a new position in shares of Starbucks during the fourth quarter worth about $36,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SBUX has been the topic of a number of recent research reports. Stifel Nicolaus raised their price objective on Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a research note on Monday, January 27th. TD Cowen reissued a “buy” rating and set a $110.00 target price on shares of Starbucks in a research note on Monday, November 11th. Barclays raised their price target on Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Royal Bank of Canada restated an “outperform” rating and issued a $115.00 price objective on shares of Starbucks in a report on Friday, January 24th. Finally, 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 report on Wednesday, January 29th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $105.75.

Starbucks Stock Performance

Shares of Starbucks stock opened at $115.81 on Friday. The company has a 50-day simple moving average of $102.11 and a two-hundred day simple moving average of $98.51. The stock has a market capitalization of $131.55 billion, a PE ratio of 37.36, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $116.09.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, beating 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 prior year, the company earned $0.90 earnings per share. As a group, equities research analysts forecast that Starbucks Co. will post 2.99 EPS 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.