Concurrent Investment Advisors LLC Purchases 2,017 Shares of Starbucks Co. (NASDAQ:SBUX)

Concurrent Investment Advisors LLC raised its position in Starbucks Co. (NASDAQ:SBUX) by 4.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 52,037 shares of the coffee company’s stock after purchasing an additional 2,017 shares during the period. Concurrent Investment Advisors LLC’s holdings in Starbucks were worth $4,748,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of SBUX. Financial Life Planners bought a new stake in shares of Starbucks in the 4th quarter valued at $25,000. Collier Financial bought a new position in Starbucks during the fourth quarter worth about $27,000. DT Investment Partners LLC grew its stake in Starbucks by 39.4% in the third quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock valued at $42,000 after acquiring an additional 121 shares during the period. Morton Brown Family Wealth LLC increased its holdings in shares of Starbucks by 43.9% in the fourth quarter. Morton Brown Family Wealth LLC now owns 505 shares of the coffee company’s stock worth $46,000 after acquiring an additional 154 shares in the last quarter. Finally, FSA Wealth Management LLC acquired a new stake in shares of Starbucks during the third quarter worth about $49,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Trading Up 0.8 %

NASDAQ SBUX opened at $113.34 on Friday. The firm has a market capitalization of $128.74 billion, a P/E ratio of 36.56, a price-to-earnings-growth ratio of 3.56 and a beta of 1.00. The firm’s fifty day moving average price is $99.44 and its two-hundred day moving average price is $96.89. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $113.50.

Starbucks (NASDAQ:SBUX) last issued its 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 net margin of 9.73% and a negative return on equity of 44.97%. During the same period in the previous year, the business posted $0.90 EPS. On average, research analysts anticipate that Starbucks Co. will post 3 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently issued reports on SBUX shares. Wedbush boosted their price objective on Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Stifel Nicolaus upped their price target on shares of Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a report on Monday, January 27th. Wells Fargo & Company increased their price objective on shares of Starbucks from $110.00 to $115.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. BMO Capital Markets boosted their price objective on shares of Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $115.00 target price on shares of Starbucks in a report on Friday, January 24th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Starbucks currently has an average rating of “Moderate Buy” and an average price target of $105.33.

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.