SP Asset Management LLC Increases Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

SP Asset Management LLC boosted its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 0.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 84,570 shares of the coffee company’s stock after buying an additional 497 shares during the period. SP Asset Management LLC’s holdings in Starbucks were worth $7,717,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. State Street Corp boosted its holdings in Starbucks by 1.0% during the 3rd quarter. State Street Corp now owns 45,974,407 shares of the coffee company’s stock valued at $4,482,045,000 after acquiring an additional 437,218 shares during the period. Geode Capital Management LLC increased its stake in Starbucks by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 24,277,756 shares of the coffee company’s stock worth $2,358,464,000 after buying an additional 333,004 shares during the period. FMR LLC lifted its holdings in Starbucks by 55.0% during the 3rd quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock valued at $1,928,339,000 after buying an additional 7,015,375 shares in the last quarter. Wellington Management Group LLP boosted its position in Starbucks by 100.6% in the 3rd quarter. Wellington Management Group LLP now owns 15,149,937 shares of the coffee company’s stock valued at $1,476,967,000 after buying an additional 7,598,146 shares during the period. Finally, Fisher Asset Management LLC grew its stake in Starbucks by 1.3% in the 4th quarter. Fisher Asset Management LLC now owns 11,916,777 shares of the coffee company’s stock worth $1,087,406,000 after acquiring an additional 154,093 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SBUX. TD Cowen reiterated a “buy” rating and issued a $110.00 price target on shares of Starbucks in a report on Monday, November 11th. 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. BMO Capital Markets lifted their price objective on Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. UBS Group increased their target price on shares of Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Finally, Barclays boosted their price target on shares of Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Three equities 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 assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $105.75.

Starbucks Stock Down 0.3 %

Shares of SBUX opened at $111.69 on Thursday. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $117.46. The company has a market capitalization of $126.87 billion, a price-to-earnings ratio of 36.03, a PEG ratio of 3.59 and a beta of 0.99. The stock’s 50-day moving average price is $103.55 and its 200-day moving average price is $98.89.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, topping 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 prior year, the company earned $0.90 earnings per share. As a group, equities analysts anticipate 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.