iA Global Asset Management Inc. Acquires 76,910 Shares of Starbucks Co. (NASDAQ:SBUX)

iA Global Asset Management Inc. grew its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 62.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 200,247 shares of the coffee company’s stock after purchasing an additional 76,910 shares during the quarter. iA Global Asset Management Inc.’s holdings in Starbucks were worth $18,273,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Wintrust Investments LLC boosted its position in Starbucks by 7.1% during the fourth quarter. Wintrust Investments LLC now owns 1,411 shares of the coffee company’s stock worth $128,000 after purchasing an additional 94 shares during the period. Kuhn & Co Investment Counsel lifted its holdings in shares of Starbucks by 2.3% in the fourth quarter. Kuhn & Co Investment Counsel now owns 4,240 shares of the coffee company’s stock worth $387,000 after buying an additional 96 shares in the last quarter. Wellington Shields & Co. LLC lifted its holdings in shares of Starbucks by 8.6% in the fourth quarter. Wellington Shields & Co. LLC now owns 1,265 shares of the coffee company’s stock worth $115,000 after buying an additional 100 shares in the last quarter. Mystic Asset Management Inc. lifted its holdings in shares of Starbucks by 3.9% in the fourth quarter. Mystic Asset Management Inc. now owns 2,665 shares of the coffee company’s stock worth $243,000 after buying an additional 101 shares in the last quarter. Finally, Jmac Enterprises LLC lifted its holdings in shares of Starbucks by 1.0% in the fourth quarter. Jmac Enterprises LLC now owns 9,995 shares of the coffee company’s stock worth $912,000 after buying an additional 103 shares in the last quarter. Institutional investors own 72.29% of the company’s stock.

Starbucks Trading Up 0.9 %

NASDAQ SBUX opened at $99.19 on Thursday. The stock’s 50 day moving average is $105.18 and its 200 day moving average is $99.30. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $117.46. The stock has a market cap of $112.67 billion, a PE ratio of 32.00, a P/E/G ratio of 3.59 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last posted 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 negative return on equity of 44.97% and a net margin of 9.73%. During the same period in the previous year, the firm posted $0.90 EPS. On average, analysts forecast that Starbucks Co. will post 2.99 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. BMO Capital Markets increased 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 increased their price target on shares of Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. UBS Group raised their target price on shares of Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $115.00 target price on shares of Starbucks in a research note on Friday, January 24th. Finally, Wells Fargo & Company raised their target price on shares of Starbucks from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Tuesday, February 25th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $106.12.

Starbucks Company 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.