Starbucks Co. (NASDAQ:SBUX) Shares Bought by Lorne Steinberg Wealth Management Inc.

Lorne Steinberg Wealth Management Inc. boosted its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 1.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 53,675 shares of the coffee company’s stock after purchasing an additional 735 shares during the period. Lorne Steinberg Wealth Management Inc.’s holdings in Starbucks were worth $4,898,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SBUX. Wellington Management Group LLP increased its holdings in Starbucks by 100.6% in 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 buying an additional 7,598,146 shares in the last quarter. FMR LLC increased its holdings in Starbucks by 55.0% in the third quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock valued at $1,928,339,000 after buying an additional 7,015,375 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Starbucks by 1,491.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,808,571 shares of the coffee company’s stock worth $256,282,000 after purchasing an additional 2,632,087 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Starbucks by 1,078.5% during the third 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 purchasing an additional 2,329,431 shares in the last quarter. Finally, Zurich Insurance Group Ltd FI purchased a new stake in shares of Starbucks during the third quarter worth about $126,574,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Insider Buying and Selling

In related news, CFO Rachel Ruggeri sold 1,491 shares of the company’s 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 sale, the chief financial officer now directly owns 80,124 shares of the company’s stock, valued at $7,975,542.96. This represents a 1.83 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.09% of the stock is owned by insiders.

Analysts Set New Price Targets

SBUX has been the subject of a number of research reports. UBS Group boosted their target price on shares of Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Royal Bank of Canada reissued an “outperform” rating and set a $115.00 target price on shares of Starbucks in a research note on Friday, January 24th. Redburn Atlantic reissued a “sell” rating and set a $77.00 target price (down previously from $84.00) on shares of Starbucks in a research note on Wednesday, November 13th. TD Cowen restated a “buy” rating and set a $110.00 price target on shares of Starbucks in a research report on Monday, November 11th. Finally, 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. 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. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $105.33.

Starbucks Stock Performance

Shares of SBUX stock opened at $113.03 on Wednesday. The firm’s 50 day moving average price is $98.85 and its 200-day moving average price is $96.66. Starbucks Co. has a one year low of $71.55 and a one year high of $113.47. The firm has a market cap of $128.39 billion, a P/E ratio of 36.46, a P/E/G ratio of 3.55 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share 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 in the prior year, the company posted $0.90 EPS. As a group, research analysts predict that Starbucks Co. will post 3 EPS for the current fiscal year.

Starbucks 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.