Hardy Reed LLC Acquires New Position in Starbucks Co. (NASDAQ:SBUX)

Hardy Reed LLC acquired a new stake in Starbucks Co. (NASDAQ:SBUX) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 11,148 shares of the coffee company’s stock, valued at approximately $1,017,000.

Other institutional investors have also recently made changes to their positions in the company. Financial Life Planners acquired a new position in Starbucks during the 4th quarter worth approximately $25,000. Collier Financial acquired a new position in Starbucks during the 4th quarter worth approximately $27,000. DT Investment Partners LLC grew its holdings in Starbucks by 39.4% during the 3rd quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock worth $42,000 after acquiring an additional 121 shares in the last quarter. FSA Wealth Management LLC acquired a new position in Starbucks during the 3rd quarter worth approximately $49,000. Finally, Morton Brown Family Wealth LLC grew its holdings in Starbucks by 43.9% during the 4th quarter. Morton Brown Family Wealth LLC now owns 505 shares of the coffee company’s stock worth $46,000 after acquiring an additional 154 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Stock Down 0.5 %

NASDAQ:SBUX opened at $112.49 on Thursday. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $113.47. The stock has a market cap of $127.78 billion, a PE ratio of 36.29, a price-to-earnings-growth ratio of 3.56 and a beta of 1.00. The firm’s fifty day simple moving average is $99.13 and its 200-day simple moving average is $96.77.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share 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 quarter in the previous year, the firm posted $0.90 EPS. Equities analysts anticipate that Starbucks Co. will post 3 earnings per share for the current year.

Wall Street Analysts Forecast Growth

SBUX has been the subject of several analyst reports. Barclays boosted 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. Wedbush boosted their price objective on shares of Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Redburn Atlantic restated a “sell” rating and set a $77.00 price objective (down previously from $84.00) on shares of Starbucks in a research report on Wednesday, November 13th. BMO Capital Markets boosted their price objective on shares of Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Finally, Stifel Nicolaus boosted their price objective on shares of Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $105.33.

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.