1,479 Shares in Starbucks Co. (NASDAQ:SBUX) Purchased by Summit Securities Group LLC

Summit Securities Group LLC bought a new stake in shares of Starbucks Co. (NASDAQ:SBUX) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,479 shares of the coffee company’s stock, valued at approximately $135,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. increased its position in Starbucks by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 111,106,209 shares of the coffee company’s stock worth $10,138,442,000 after buying an additional 784,432 shares during the period. State Street Corp increased its holdings in shares of Starbucks by 1.0% in the 3rd quarter. State Street Corp now owns 45,974,407 shares of the coffee company’s stock worth $4,482,045,000 after acquiring an additional 437,218 shares during the period. Geode Capital Management LLC lifted its position in Starbucks by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 24,277,756 shares of the coffee company’s stock valued at $2,358,464,000 after purchasing an additional 333,004 shares during the last quarter. Wellington Management Group LLP boosted its stake in Starbucks by 100.6% during the 3rd quarter. Wellington Management Group LLP now owns 15,149,937 shares of the coffee company’s stock valued at $1,476,967,000 after purchasing an additional 7,598,146 shares during the period. Finally, Norges Bank acquired a new stake in shares of Starbucks in the fourth quarter valued at approximately $1,244,812,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on SBUX shares. Stifel Nicolaus lifted their price objective on shares of Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a research note on Monday, January 27th. UBS Group upped their price target on shares of Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Barclays raised their price objective on shares of Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Wedbush increased their price target on Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Finally, Argus raised Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price objective on the stock in a research note on Tuesday, March 18th. Three research 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. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $106.12.

Starbucks Stock Performance

NASDAQ:SBUX opened at $97.73 on Friday. The company has a market capitalization of $111.01 billion, a P/E ratio of 31.53, a P/E/G ratio of 3.59 and a beta of 0.99. The stock’s 50 day moving average price is $105.75 and its 200 day moving average price is $99.54. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $117.46.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data 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 quarter last year, the business posted $0.90 EPS. As a group, sell-side analysts forecast that Starbucks Co. will post 2.99 earnings per share 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.