Aspen Wealth Strategies LLC Purchases 2,702 Shares of Starbucks Co. (NASDAQ:SBUX)

Aspen Wealth Strategies LLC lifted its position in shares of Starbucks Co. (NASDAQ:SBUX) by 60.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,153 shares of the coffee company’s stock after acquiring an additional 2,702 shares during the quarter. Aspen Wealth Strategies LLC’s holdings in Starbucks were worth $653,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in SBUX. Financial Life Planners bought a new stake in Starbucks in the fourth quarter valued at about $25,000. Collier Financial bought a new stake in Starbucks in the fourth quarter valued at about $27,000. Marshall Investment Management LLC bought a new stake in Starbucks in the fourth quarter valued at about $30,000. Noble Wealth Management PBC bought a new stake in Starbucks in the fourth quarter valued at about $30,000. Finally, Centricity Wealth Management LLC bought a new stake in Starbucks in the fourth quarter valued at about $36,000. Institutional investors own 72.29% of the company’s stock.

Starbucks Stock Performance

Shares of NASDAQ SBUX opened at $99.08 on Tuesday. The stock has a 50 day moving average price of $104.94 and a 200 day moving average price of $99.28. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $117.46. The stock has a market capitalization of $112.54 billion, a PE ratio of 31.96, a price-to-earnings-growth ratio of 3.59 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 EPS 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 earned $0.90 earnings per share. As a group, research analysts forecast that Starbucks Co. will post 2.99 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on SBUX shares. Wells Fargo & Company upped their price objective on Starbucks from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Tuesday, February 25th. Stifel Nicolaus upped their price objective on Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a report on Monday, January 27th. Royal Bank of Canada restated an “outperform” rating and issued a $115.00 price target on shares of Starbucks in a report on Friday, January 24th. BMO Capital Markets increased their price target on Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Finally, Barclays increased their price target on Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $105.75.

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.