J.Safra Asset Management Corp Boosts Stock Position in Starbucks Co. (NASDAQ:SBUX)

J.Safra Asset Management Corp raised its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 70.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,397 shares of the coffee company’s stock after buying an additional 578 shares during the quarter. J.Safra Asset Management Corp’s holdings in Starbucks were worth $127,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Financial Life Planners bought a new stake in Starbucks during the 4th quarter valued at about $25,000. Collier Financial purchased a new stake in shares of Starbucks during the fourth quarter valued at approximately $27,000. Marshall Investment Management LLC bought a new stake in shares of Starbucks during the fourth quarter valued at approximately $30,000. Noble Wealth Management PBC purchased a new position in Starbucks in the 4th quarter worth approximately $30,000. Finally, Centricity Wealth Management LLC bought a new position in Starbucks in the 4th quarter valued at approximately $36,000. 72.29% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on SBUX shares. Royal Bank of Canada reissued an “outperform” rating and issued a $115.00 target price on shares of Starbucks in a report on Friday, January 24th. Barclays lifted their price objective on Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. BMO Capital Markets upped their target price on shares of Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Wells Fargo & Company lifted their price target on shares of Starbucks from $115.00 to $125.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 25th. Finally, UBS Group increased their price objective on shares of Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $105.75.

Starbucks Stock Performance

Shares of Starbucks stock opened at $111.69 on Thursday. The company has a fifty day moving average of $103.55 and a 200 day moving average of $98.89. The company has a market capitalization of $126.87 billion, a P/E ratio of 36.03, a P/E/G ratio of 3.59 and a beta of 0.99. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $117.46.

Starbucks (NASDAQ:SBUX) last released its earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, topping 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 company earned $0.90 earnings per share. Analysts forecast that Starbucks Co. will post 2.99 EPS for the current 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.