Waycross Partners LLC Purchases 5,306 Shares of Starbucks Co. (NASDAQ:SBUX)

Waycross Partners LLC lifted its holdings in Starbucks Co. (NASDAQ:SBUX) by 3.0% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 181,599 shares of the coffee company’s stock after buying an additional 5,306 shares during the period. Starbucks makes up approximately 2.1% of Waycross Partners LLC’s portfolio, making the stock its 22nd biggest holding. Waycross Partners LLC’s holdings in Starbucks were worth $16,571,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of SBUX. OLD National Bancorp IN boosted its stake in Starbucks by 12.7% in the third quarter. OLD National Bancorp IN now owns 15,344 shares of the coffee company’s stock valued at $1,496,000 after acquiring an additional 1,725 shares during the last quarter. Vest Financial LLC bought a new stake in shares of Starbucks in the 3rd quarter worth approximately $720,000. Allspring Global Investments Holdings LLC lifted its stake in Starbucks by 40.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 496,951 shares of the coffee company’s stock valued at $48,448,000 after purchasing an additional 143,258 shares during the last quarter. Penn Davis Mcfarland Inc. bought a new position in Starbucks during the third quarter valued at $2,786,000. Finally, Arlington Partners LLC increased its position in Starbucks by 6.5% in the third quarter. Arlington Partners LLC now owns 43,934 shares of the coffee company’s stock worth $4,283,000 after buying an additional 2,697 shares during the last quarter. 72.29% of the stock is owned by institutional investors.

Starbucks Trading Down 0.4 %

SBUX stock opened at $112.55 on Tuesday. The company’s 50 day moving average is $98.28 and its 200 day moving average is $96.14. The stock has a market cap of $127.85 billion, a price-to-earnings ratio of 36.31, a price-to-earnings-growth ratio of 3.52 and a beta of 1.00. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $113.47.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 EPS 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 last year, the business posted $0.90 EPS. As a group, sell-side analysts forecast that Starbucks Co. will post 3 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. UBS Group upped their price target on Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Redburn Atlantic reaffirmed a “sell” rating and set a $77.00 price objective (down from $84.00) on shares of Starbucks in a report on Wednesday, November 13th. Bank of America lowered their price target on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a research report on Tuesday, October 22nd. Barclays upped their price target 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. Finally, Stifel Nicolaus lifted their price objective on shares of Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $105.33.

Insiders Place Their Bets

In other Starbucks news, CFO Rachel Ruggeri sold 1,491 shares of Starbucks stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $99.54, for a total transaction of $148,414.14. Following the transaction, the chief financial officer now directly owns 80,124 shares of the company’s stock, valued at approximately $7,975,542.96. This trade represents a 1.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.09% of the company’s stock.

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.