New York Life Investment Management LLC Increases Holdings in Starbucks Co. (NASDAQ:SBUX)

New York Life Investment Management LLC lifted its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 0.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 167,979 shares of the coffee company’s stock after purchasing an additional 320 shares during the quarter. New York Life Investment Management LLC’s holdings in Starbucks were worth $15,328,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in SBUX. Financial Life Planners bought a new stake in shares of Starbucks during the fourth quarter valued at about $25,000. Collier Financial purchased a new position in Starbucks during the fourth quarter valued at approximately $27,000. Marshall Investment Management LLC bought a new stake in Starbucks during the 4th quarter worth approximately $30,000. Centricity Wealth Management LLC purchased a new stake in Starbucks in the 4th quarter worth approximately $36,000. Finally, Morton Brown Family Wealth LLC boosted its holdings in Starbucks by 43.9% in the 4th quarter. Morton Brown Family Wealth LLC now owns 505 shares of the coffee company’s stock valued at $46,000 after purchasing an additional 154 shares during the period. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Stock Up 1.3 %

Shares of NASDAQ SBUX opened at $114.49 on Friday. The firm’s fifty day moving average is $101.55 and its 200 day moving average is $98.22. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $115.70. The company has a market cap of $130.05 billion, a price-to-earnings ratio of 36.93, a PEG ratio of 3.59 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, beating 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 in the previous year, the business earned $0.90 EPS. Equities research analysts anticipate that Starbucks Co. will post 2.99 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SBUX. BMO Capital Markets upped their price target on shares of Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Barclays raised their price target on Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Wells Fargo & Company lifted their price target on Starbucks from $115.00 to $125.00 and gave the company an “overweight” rating in a research report on Tuesday. Citigroup upped their price objective on shares of Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $115.00 price target on shares of Starbucks in a research note on Friday, January 24th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Starbucks currently has an average rating of “Moderate Buy” and a consensus target price of $105.75.

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.