7,721 Shares in Starbucks Co. (NASDAQ:SBUX) Acquired by Purkiss Capital Advisors LLC

Purkiss Capital Advisors LLC bought a new stake in shares of Starbucks Co. (NASDAQ:SBUX) in the fourth quarter, HoldingsChannel.com reports. The firm bought 7,721 shares of the coffee company’s stock, valued at approximately $705,000.

Other hedge funds have also added to or reduced their stakes in the company. Wellington Management Group LLP grew its holdings in Starbucks by 100.6% during the third quarter. Wellington Management Group LLP now owns 15,149,937 shares of the coffee company’s stock valued at $1,476,967,000 after purchasing an additional 7,598,146 shares during the period. FMR LLC grew its stake in shares of Starbucks by 55.0% during the 3rd quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock valued at $1,928,339,000 after acquiring an additional 7,015,375 shares during the period. Assenagon Asset Management S.A. increased its holdings in Starbucks by 1,491.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 2,808,571 shares of the coffee company’s stock worth $256,282,000 after acquiring an additional 2,632,087 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its stake in Starbucks by 1,078.5% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,545,419 shares of the coffee company’s stock worth $248,153,000 after acquiring an additional 2,329,431 shares during the period. Finally, Zurich Insurance Group Ltd FI purchased a new position in Starbucks during the third quarter valued at approximately $126,574,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SBUX. Royal Bank of Canada reissued an “outperform” rating and issued a $115.00 price objective on shares of Starbucks in a research note on Friday, January 24th. Stifel Nicolaus increased their price target on Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. UBS Group boosted their price objective on Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Barclays upped their price objective on Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. 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 note 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 issued a strong buy rating to the company. Based on data from MarketBeat.com, Starbucks presently has an average rating of “Moderate Buy” and an average price target of $105.75.

Starbucks Trading Up 1.2 %

SBUX opened at $115.81 on Friday. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $116.09. The stock has a 50-day moving average of $102.11 and a 200 day moving average of $98.51. The firm has a market cap of $131.55 billion, a P/E ratio of 37.36, a P/E/G ratio of 3.59 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last released 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 negative return on equity of 44.97% and a net margin of 9.73%. During the same quarter in the prior year, the company posted $0.90 EPS. On average, research analysts forecast that Starbucks Co. will post 2.99 earnings per share for the current fiscal 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.