OFI Invest Asset Management Invests $9.50 Million in Starbucks Co. (NASDAQ:SBUX)

OFI Invest Asset Management acquired a new position in shares of Starbucks Co. (NASDAQ:SBUX) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 107,776 shares of the coffee company’s stock, valued at approximately $9,497,000.

Several other hedge funds have also made changes to their positions in the business. State Street Corp boosted its holdings in shares of Starbucks by 1.0% during the third quarter. State Street Corp now owns 45,974,407 shares of the coffee company’s stock worth $4,482,045,000 after purchasing an additional 437,218 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Starbucks by 1.4% in the third quarter. Geode Capital Management LLC now owns 24,277,756 shares of the coffee company’s stock valued at $2,358,464,000 after acquiring an additional 333,004 shares during the last quarter. FMR LLC boosted 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 acquiring an additional 7,015,375 shares during the last quarter. Wellington Management Group LLP boosted 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 acquiring an additional 7,598,146 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its holdings in Starbucks by 1.3% in the fourth quarter. Fisher Asset Management LLC now owns 11,916,777 shares of the coffee company’s stock valued at $1,087,406,000 after acquiring an additional 154,093 shares during the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Stock Up 1.0 %

Shares of SBUX stock opened at $106.48 on Friday. The business has a 50 day moving average of $104.10 and a two-hundred day moving average of $99.08. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $117.46. The company has a market cap of $120.95 billion, a P/E ratio of 34.35, a PEG ratio of 3.59 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates 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 period in the prior year, the company earned $0.90 earnings per share. Analysts expect that Starbucks Co. will post 2.99 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently weighed in on SBUX. BMO Capital Markets lifted their target price on Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. TD Cowen reissued a “buy” rating and issued a $110.00 price objective on shares of Starbucks in a research report on Monday, November 11th. Barclays raised their price objective on Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Stifel Nicolaus raised their price objective on Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Finally, Wells Fargo & Company raised their price objective on Starbucks from $115.00 to $125.00 and gave the company an “overweight” rating in a research report on Tuesday, February 25th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Starbucks currently has an average rating of “Moderate Buy” and an average price target of $105.75.

About Starbucks

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.