Simplicity Wealth LLC Has $217,000 Position in Starbucks Co. (NASDAQ:SBUX)

Simplicity Wealth LLC boosted its holdings in Starbucks Co. (NASDAQ:SBUX) by 6.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 2,375 shares of the coffee company’s stock after acquiring an additional 141 shares during the quarter. Simplicity Wealth LLC’s holdings in Starbucks were worth $217,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Financial Life Planners acquired a new stake in Starbucks in the 4th quarter valued at $25,000. Collier Financial purchased a new position in Starbucks during the 4th quarter worth $27,000. Marshall Investment Management LLC purchased a new position in Starbucks during the 4th quarter worth $30,000. Noble Wealth Management PBC purchased a new position in Starbucks during the 4th quarter worth $30,000. Finally, Centricity Wealth Management LLC purchased a new position in Starbucks during the 4th quarter worth $36,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Stock Down 1.5 %

SBUX stock opened at $99.58 on Wednesday. The firm has a market capitalization of $113.11 billion, a PE ratio of 32.12, a PEG ratio of 3.59 and a beta of 0.99. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $117.46. The stock has a 50-day simple moving average of $104.48 and a two-hundred day simple moving average of $99.23.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share 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 quarter last year, the firm posted $0.90 earnings per share. On average, equities research analysts anticipate that Starbucks Co. will post 2.99 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have issued reports on SBUX shares. Wells Fargo & Company lifted their price objective on shares of Starbucks from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Tuesday, February 25th. Redburn Atlantic reaffirmed a “sell” rating and set a $77.00 price objective (down from $84.00) on shares of Starbucks in a report on Wednesday, November 13th. Stifel Nicolaus lifted their price objective on shares of Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Royal Bank of Canada reiterated an “outperform” rating and set a $115.00 target price on shares of Starbucks in a research note on Friday, January 24th. Finally, UBS Group lifted their target price on Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Three research 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.com, the company has an average rating of “Moderate Buy” and an average price target of $105.75.

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.