Summitry LLC Has $49.68 Million Holdings in Starbucks Co. (NASDAQ:SBUX)

Summitry LLC lifted its stake in Starbucks Co. (NASDAQ:SBUX) by 2.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 544,407 shares of the coffee company’s stock after acquiring an additional 14,955 shares during the period. Starbucks makes up 2.4% of Summitry LLC’s portfolio, making the stock its 17th largest holding. Summitry LLC’s holdings in Starbucks were worth $49,677,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Financial Life Planners acquired a new position in Starbucks in the 4th quarter valued at approximately $25,000. Collier Financial acquired a new position in shares of Starbucks in the fourth quarter valued at $27,000. Runnymede Capital Advisors Inc. bought a new position in Starbucks in the fourth quarter worth $27,000. Marshall Investment Management LLC acquired a new stake in Starbucks during the fourth quarter worth $30,000. Finally, Noble Wealth Management PBC bought a new stake in Starbucks in the 4th quarter valued at $30,000. Institutional investors own 72.29% of the company’s stock.

Starbucks Stock Up 0.2 %

SBUX stock opened at $95.88 on Wednesday. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $117.46. The company has a market cap of $108.91 billion, a P/E ratio of 30.93, a PEG ratio of 3.59 and a beta of 0.99. The business has a fifty day moving average of $105.51 and a 200-day moving average of $99.48.

Starbucks (NASDAQ:SBUX) last released 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 quarter in the prior year, the firm posted $0.90 EPS. As a group, equities research analysts anticipate that Starbucks Co. will post 2.99 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Stifel Nicolaus raised their price objective on shares of Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $115.00 price objective on shares of Starbucks in a report on Friday, January 24th. Wedbush increased their target price on Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. UBS Group boosted their price target on Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Finally, BMO Capital Markets increased their price objective on Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $106.12.

About Starbucks

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.