Picton Mahoney Asset Management Takes Position in Starbucks Co. (NASDAQ:SBUX)

Picton Mahoney Asset Management bought a new position in Starbucks Co. (NASDAQ:SBUX) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 2,480 shares of the coffee company’s stock, valued at approximately $226,000.

A number of other hedge funds have also recently made changes to their positions in SBUX. Financial Life Planners purchased a new position in Starbucks in the 4th quarter worth $25,000. Collier Financial bought a new position in shares of Starbucks during the fourth quarter valued at about $27,000. Marshall Investment Management LLC purchased a new position in shares of Starbucks in the fourth quarter worth about $30,000. Noble Wealth Management PBC bought a new stake in shares of Starbucks in the 4th quarter valued at about $30,000. Finally, Centricity Wealth Management LLC purchased a new stake in Starbucks during the 4th quarter valued at about $36,000. 72.29% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on SBUX shares. Wedbush lifted their price target on Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. BMO Capital Markets lifted their target price on shares of Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Royal Bank of Canada reissued an “outperform” rating and set a $115.00 price target on shares of Starbucks in a research report on Friday, January 24th. Wells Fargo & Company raised their price target on shares of Starbucks from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Tuesday, February 25th. Finally, Barclays upped 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 equities research analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $105.75.

Starbucks Trading Up 2.2 %

NASDAQ SBUX opened at $98.11 on Monday. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $117.46. The stock’s fifty day moving average price is $104.82 and its 200-day moving average price is $99.25. The stock has a market cap of $111.44 billion, a P/E ratio of 31.65, a P/E/G ratio of 3.59 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 EPS 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 business posted $0.90 EPS. As a group, analysts forecast that Starbucks Co. will post 2.99 earnings per share 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.