SP Asset Management LLC Boosts Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

SP Asset Management LLC lifted its position in Starbucks Co. (NASDAQ:SBUX) by 0.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 84,570 shares of the coffee company’s stock after acquiring an additional 497 shares during the period. SP Asset Management LLC’s holdings in Starbucks were worth $7,717,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

A number of research firms recently commented on SBUX. UBS Group upped their price objective on Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Wedbush upped their price objective on shares of Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Redburn Atlantic reissued a “sell” rating and issued a $77.00 target price (down previously from $84.00) on shares of Starbucks in a research report on Wednesday, November 13th. Royal Bank of Canada reiterated an “outperform” rating and issued a $115.00 price objective on shares of Starbucks in a report on Friday, January 24th. Finally, BMO Capital Markets lifted their target price on Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $105.75.

Starbucks Trading Down 0.3 %

SBUX stock opened at $111.69 on Thursday. The company’s 50 day moving average is $103.55 and its two-hundred day moving average is $98.89. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $117.46. The stock has a market cap of $126.87 billion, a P/E ratio of 36.03, a PEG ratio of 3.59 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 EPS 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 EPS. On average, equities research analysts predict 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.