Alley Investment Management Company LLC Boosts Holdings in Starbucks Co. (NASDAQ:SBUX)

Alley Investment Management Company LLC boosted its position in Starbucks Co. (NASDAQ:SBUX) by 2.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 147,061 shares of the coffee company’s stock after purchasing an additional 2,994 shares during the quarter. Starbucks comprises 1.7% of Alley Investment Management Company LLC’s investment portfolio, making the stock its 26th biggest position. Alley Investment Management Company LLC’s holdings in Starbucks were worth $13,419,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of SBUX. Financial Life Planners purchased a new stake in shares of Starbucks during the 4th quarter valued at $25,000. Collier Financial purchased a new stake in shares of Starbucks during the 4th quarter valued at $27,000. Marshall Investment Management LLC purchased a new stake in shares of Starbucks during the 4th quarter valued at $30,000. Noble Wealth Management PBC purchased a new stake in shares of Starbucks during the 4th quarter valued at $30,000. Finally, Centricity Wealth Management LLC purchased a new stake in shares of Starbucks during the 4th quarter valued at $36,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Starbucks Price Performance

NASDAQ:SBUX opened at $115.41 on Tuesday. Starbucks Co. has a one year low of $71.55 and a one year high of $117.46. The company’s 50-day simple moving average is $102.67 and its 200 day simple moving average is $98.68. The firm has a market capitalization of $131.09 billion, a P/E ratio of 37.23, a PEG ratio of 3.59 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data 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 earned $0.90 EPS. On average, equities research analysts expect that Starbucks Co. will post 2.99 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. 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. Barclays raised their price objective on shares of Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Wells Fargo & Company raised their price objective on shares of Starbucks from $115.00 to $125.00 and gave the company an “overweight” rating in a research report on Tuesday, February 25th. UBS Group lifted their target price on shares of Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Finally, BMO Capital Markets lifted their target price on shares of Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target 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.