Stokes Family Office LLC Grows Position in Starbucks Co. (NASDAQ:SBUX)

Stokes Family Office LLC increased its position in shares of Starbucks Co. (NASDAQ:SBUX) by 7.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 20,470 shares of the coffee company’s stock after buying an additional 1,416 shares during the quarter. Stokes Family Office LLC’s holdings in Starbucks were worth $1,868,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of SBUX. Empowered Funds LLC raised its holdings in shares of Starbucks by 14.2% in the third quarter. Empowered Funds LLC now owns 39,941 shares of the coffee company’s stock worth $3,894,000 after acquiring an additional 4,966 shares during the last quarter. TrinityPoint Wealth LLC boosted its position in shares of Starbucks by 8.4% in the third quarter. TrinityPoint Wealth LLC now owns 3,332 shares of the coffee company’s stock worth $325,000 after buying an additional 258 shares during the period. Quest Partners LLC purchased a new stake in shares of Starbucks in the third quarter worth about $115,000. Caprock Group LLC boosted its holdings in Starbucks by 8.6% in the third quarter. Caprock Group LLC now owns 24,066 shares of the coffee company’s stock valued at $2,346,000 after purchasing an additional 1,899 shares during the last quarter. Finally, BIP Wealth LLC purchased a new position in Starbucks in the third quarter valued at about $211,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SBUX has been the topic of several research reports. Wedbush upped their price objective on Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Stifel Nicolaus increased their price target on Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a research note on Monday, January 27th. BMO Capital Markets raised their price objective on Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Wells Fargo & Company raised their target price on Starbucks from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 25th. Finally, UBS Group raised their target price on Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Starbucks has a consensus rating of “Moderate Buy” and a consensus price target of $106.12.

Starbucks Stock Down 0.8 %

Starbucks stock opened at $98.28 on Wednesday. The company has a market capitalization of $111.64 billion, a P/E ratio of 31.70, a P/E/G ratio of 3.59 and a beta of 0.99. The firm has a 50 day moving average price of $105.05 and a 200-day moving average price of $99.30. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $117.46.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, topping 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 last year, the business posted $0.90 EPS. Equities analysts expect that Starbucks Co. will post 2.99 EPS for the current fiscal year.

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.