Starbucks Co. (NASDAQ:SBUX) Shares Acquired by Whittier Trust Co. of Nevada Inc.

Whittier Trust Co. of Nevada Inc. increased its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 2.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 49,215 shares of the coffee company’s stock after acquiring an additional 1,396 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Starbucks were worth $4,491,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SBUX. Financial Life Planners purchased a new stake in Starbucks during the 4th quarter worth about $25,000. Collier Financial acquired a new position in shares of Starbucks in the fourth quarter valued at approximately $27,000. Marshall Investment Management LLC purchased a new position in shares of Starbucks during the fourth quarter valued at approximately $30,000. Noble Wealth Management PBC purchased a new stake in Starbucks in the 4th quarter worth approximately $30,000. Finally, Centricity Wealth Management LLC acquired a new position in Starbucks in the 4th quarter valued at $36,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SBUX has been the subject of a number of research analyst reports. Argus raised shares of Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price objective for the company in a research note on Tuesday. Wedbush increased their target price on Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Barclays boosted their price target on Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Wells Fargo & Company raised their price objective on Starbucks from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Tuesday, February 25th. 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, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $106.12.

Starbucks Trading Down 2.2 %

Starbucks stock opened at $97.07 on Friday. The stock has a 50 day moving average of $105.41 and a 200-day moving average of $99.32. The stock has a market cap of $110.26 billion, a P/E ratio of 31.31, a price-to-earnings-growth ratio of 3.59 and a beta of 0.99. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $117.46.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, topping 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 last year, the company posted $0.90 earnings per share. As a group, equities analysts predict that Starbucks Co. will post 2.99 earnings per share for the current fiscal year.

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.