American Assets Investment Management LLC Boosts Holdings in Starbucks Co. (NASDAQ:SBUX)

American Assets Investment Management LLC boosted its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 50.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 60,000 shares of the coffee company’s stock after buying an additional 20,000 shares during the quarter. American Assets Investment Management LLC’s holdings in Starbucks were worth $5,475,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Empowered Funds LLC increased its holdings in Starbucks by 14.2% in the third quarter. Empowered Funds LLC now owns 39,941 shares of the coffee company’s stock valued at $3,894,000 after buying an additional 4,966 shares during the last quarter. Accredited Investors Inc. acquired a new position in shares of Starbucks during the 3rd quarter worth about $219,000. Tower Bridge Advisors increased its holdings in shares of Starbucks by 43.7% in the 3rd quarter. Tower Bridge Advisors now owns 5,391 shares of the coffee company’s stock valued at $526,000 after acquiring an additional 1,640 shares during the last quarter. TrinityPoint Wealth LLC raised its position in shares of Starbucks by 8.4% during the 3rd quarter. TrinityPoint Wealth LLC now owns 3,332 shares of the coffee company’s stock worth $325,000 after acquiring an additional 258 shares in the last quarter. Finally, Aljian Capital Management LLC lifted its position in shares of Starbucks by 48.5% during the 3rd quarter. Aljian Capital Management LLC now owns 30,422 shares of the coffee company’s stock worth $2,966,000 after buying an additional 9,936 shares during the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Stock Performance

SBUX opened at $99.08 on Tuesday. Starbucks Co. has a one year low of $71.55 and a one year high of $117.46. The company has a market cap of $112.54 billion, a price-to-earnings ratio of 31.96, a PEG ratio of 3.59 and a beta of 0.99. The business’s fifty day moving average is $104.94 and its two-hundred day moving average is $99.28.

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 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 posted $0.90 earnings per share. On average, analysts predict that Starbucks Co. will post 2.99 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SBUX. Stifel Nicolaus raised their price objective on Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Wells Fargo & Company increased their price objective on Starbucks from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Tuesday, February 25th. 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. Royal Bank of Canada reiterated an “outperform” rating and set a $115.00 price target on shares of Starbucks in a research note on Friday, January 24th. Finally, 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. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have given 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 target price 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.