Mitsubishi UFJ Asset Management Co. Ltd. Acquires 162,897 Shares of Starbucks Co. (NASDAQ:SBUX)

Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 9.1% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,949,296 shares of the coffee company’s stock after acquiring an additional 162,897 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.17% of Starbucks worth $180,466,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Financial Life Planners purchased a new position in shares of Starbucks in the 4th quarter worth $25,000. Graney & King LLC bought a new position in Starbucks in the fourth quarter valued at about $26,000. Collier Financial purchased a new position in Starbucks in the fourth quarter worth about $27,000. Runnymede Capital Advisors Inc. bought a new stake in shares of Starbucks during the 4th quarter valued at about $27,000. Finally, Marshall Investment Management LLC purchased a new stake in shares of Starbucks during the 4th quarter valued at about $30,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Analysts Set New Price Targets

SBUX has been the topic of a number of research reports. Wedbush raised their price objective on shares of Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Argus upgraded shares of Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price target on the stock in a research note on Tuesday, March 18th. Royal Bank of Canada reissued an “outperform” rating and set a $115.00 price objective on shares of Starbucks in a research report on Friday, January 24th. UBS Group raised their target price on Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Finally, BMO Capital Markets boosted their price target on Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. 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 given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Starbucks presently has an average rating of “Moderate Buy” and an average target price of $106.12.

Starbucks Stock Up 0.9 %

Shares of Starbucks stock opened at $98.85 on Friday. The firm has a market cap of $112.28 billion, a price-to-earnings ratio of 31.89, a PEG ratio of 3.59 and a beta of 0.99. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $117.46. The business has a 50-day moving average price of $105.69 and a 200-day moving average price of $99.46.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, beating the consensus estimate 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 quarter in the previous year, the firm posted $0.90 earnings per share. On average, equities analysts expect that Starbucks Co. will post 2.99 EPS for the current fiscal year.

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.