Mn Services Vermogensbeheer B.V. Increases Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Mn Services Vermogensbeheer B.V. raised its position in shares of Starbucks Co. (NASDAQ:SBUX) by 1.7% during the 4th quarter, Holdings Channel reports. The firm owned 447,200 shares of the coffee company’s stock after buying an additional 7,600 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in Starbucks were worth $40,807,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Hennion & Walsh Asset Management Inc. grew its position in shares of Starbucks by 31.8% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 3,766 shares of the coffee company’s stock valued at $367,000 after purchasing an additional 909 shares in the last quarter. Pallas Capital Advisors LLC acquired a new stake in Starbucks in the third quarter valued at $235,000. abrdn plc grew its holdings in shares of Starbucks by 30.5% during the third quarter. abrdn plc now owns 538,970 shares of the coffee company’s stock worth $52,145,000 after purchasing an additional 125,912 shares during the last quarter. Strategic Blueprint LLC purchased a new position in shares of Starbucks during the third quarter worth about $209,000. Finally, Valmark Advisers Inc. grew its holdings in shares of Starbucks by 2.3% during the third quarter. Valmark Advisers Inc. now owns 10,906 shares of the coffee company’s stock worth $1,063,000 after buying an additional 243 shares during the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Wedbush raised their price objective on shares of Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Wells Fargo & Company lifted their price objective on Starbucks from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Tuesday. Royal Bank of Canada restated an “outperform” rating and set a $115.00 price objective on shares of Starbucks in a research report on Friday, January 24th. TD Cowen restated a “buy” rating and set a $110.00 price objective on shares of Starbucks in a research report on Monday, November 11th. Finally, UBS Group lifted their price objective on Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Starbucks has a consensus rating of “Moderate Buy” and an average target price of $105.75.

Starbucks Stock Performance

NASDAQ:SBUX opened at $113.00 on Thursday. The firm’s fifty day moving average is $101.04 and its 200-day moving average is $98.10. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $115.24. The firm has a market cap of $128.36 billion, a P/E ratio of 36.45, a P/E/G ratio of 3.59 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.68 by $0.01. Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. During the same period in the prior year, the firm posted $0.90 earnings per share. As a group, sell-side analysts anticipate that Starbucks Co. will post 2.99 earnings per share for the current 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.