Pictet Asset Management Holding SA Boosts Stake in Starbucks Co. (NASDAQ:SBUX)

Pictet Asset Management Holding SA increased its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 0.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,583,296 shares of the coffee company’s stock after purchasing an additional 11,262 shares during the period. Pictet Asset Management Holding SA owned 0.14% of Starbucks worth $144,476,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Wintrust Investments LLC raised its stake in shares of 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 last quarter. Kuhn & Co Investment Counsel lifted its holdings in Starbucks by 2.3% in the fourth quarter. Kuhn & Co Investment Counsel now owns 4,240 shares of the coffee company’s stock valued at $387,000 after acquiring an additional 96 shares during the period. Wellington Shields & Co. LLC lifted its stake 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 valued at $115,000 after purchasing an additional 100 shares during the period. Mystic Asset Management Inc. boosted its stake in shares of Starbucks by 3.9% during the 4th quarter. Mystic Asset Management Inc. now owns 2,665 shares of the coffee company’s stock worth $243,000 after acquiring an additional 101 shares in the last quarter. Finally, Jmac Enterprises LLC boosted its position in Starbucks by 1.0% during the fourth quarter. Jmac Enterprises LLC now owns 9,995 shares of the coffee company’s stock worth $912,000 after purchasing an additional 103 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Stock Down 1.1 %

SBUX stock opened at $97.73 on Friday. The stock’s 50 day moving average is $105.75 and its two-hundred day moving average is $99.50. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $117.46. The company has a market capitalization of $111.01 billion, a PE ratio of 31.53, 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 earnings per share (EPS) for the quarter, beating 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 period in the previous year, the firm earned $0.90 EPS. As a group, sell-side analysts anticipate that Starbucks Co. will post 2.99 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on SBUX. BMO Capital Markets increased their price target on shares of Starbucks from $110.00 to $115.00 and gave the company an “outperform” 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 stock a “buy” rating in a report on Monday, January 27th. Wells Fargo & Company boosted their target price on shares of Starbucks from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Tuesday, February 25th. Argus upgraded Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price target for the company in a research note on Tuesday, March 18th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $115.00 target price on shares of Starbucks in a research report on Friday, January 24th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $106.12.

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.