Starbucks Co. (NASDAQ:SBUX) Shares Bought by Congress Wealth Management LLC DE

Congress Wealth Management LLC DE raised its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 16.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 17,230 shares of the coffee company’s stock after buying an additional 2,406 shares during the period. Congress Wealth Management LLC DE’s holdings in Starbucks were worth $1,572,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of SBUX. Quest Partners LLC purchased a new stake in shares of Starbucks during the 3rd quarter worth about $115,000. CreativeOne Wealth LLC boosted its position in Starbucks by 26.8% during the third quarter. CreativeOne Wealth LLC now owns 9,960 shares of the coffee company’s stock worth $971,000 after purchasing an additional 2,106 shares in the last quarter. Providence Capital Advisors LLC grew its holdings in Starbucks by 18.4% in the third quarter. Providence Capital Advisors LLC now owns 74,483 shares of the coffee company’s stock valued at $7,261,000 after purchasing an additional 11,553 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Starbucks by 7.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 498,894 shares of the coffee company’s stock valued at $48,637,000 after buying an additional 34,963 shares in the last quarter. Finally, Public Sector Pension Investment Board raised its stake in shares of Starbucks by 930.0% during the 3rd quarter. Public Sector Pension Investment Board now owns 449,433 shares of the coffee company’s stock worth $43,815,000 after buying an additional 405,800 shares during the period. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Price Performance

Shares of SBUX opened at $98.85 on Friday. The firm has a 50-day simple moving average of $105.69 and a two-hundred day simple moving average of $99.46. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $117.46. The stock has a market cap of $112.28 billion, a PE ratio of 31.89, a P/E/G ratio of 3.59 and a beta of 0.99.

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 period in the prior year, the firm posted $0.90 earnings per share. As a group, sell-side analysts expect that Starbucks Co. will post 2.99 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. UBS Group boosted their price target on shares of Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Argus upgraded shares of Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price target for the company in a research report on Tuesday, March 18th. Wells Fargo & Company raised their price target on shares of Starbucks from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Tuesday, February 25th. Royal Bank of Canada reissued an “outperform” rating and set a $115.00 target price on shares of Starbucks in a report on Friday, January 24th. Finally, 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. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Starbucks presently has an average rating of “Moderate Buy” and an average price target of $106.12.

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.