Legacy Capital Group California Inc. Acquires 350 Shares of Starbucks Co. (NASDAQ:SBUX)

Legacy Capital Group California Inc. raised its holdings in Starbucks Co. (NASDAQ:SBUX) by 7.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,222 shares of the coffee company’s stock after buying an additional 350 shares during the period. Legacy Capital Group California Inc.’s holdings in Starbucks were worth $477,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Financial Life Planners acquired a new stake in Starbucks during the 4th quarter valued at $25,000. Collier Financial bought a new position in Starbucks during the 4th quarter worth $27,000. DT Investment Partners LLC lifted its holdings in shares of Starbucks by 39.4% during the third quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock worth $42,000 after buying an additional 121 shares in the last quarter. FSA Wealth Management LLC acquired a new position in shares of Starbucks in the third quarter valued at about $49,000. Finally, Morton Brown Family Wealth LLC increased its position in Starbucks by 43.9% during the fourth 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 during the period. 72.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SBUX has been the topic of a number of analyst reports. Citigroup increased their target price on shares of Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. BMO Capital Markets raised their price objective on Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Redburn Atlantic reiterated a “sell” rating and set a $77.00 target price (down from $84.00) on shares of Starbucks in a research report on Wednesday, November 13th. UBS Group raised their price target on Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Finally, Barclays upped their price objective on shares of Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Starbucks has an average rating of “Moderate Buy” and a consensus target price of $105.33.

Starbucks Trading Up 0.8 %

NASDAQ:SBUX opened at $113.34 on Friday. The stock’s 50-day moving average is $99.44 and its 200-day moving average is $96.89. The stock has a market cap of $128.74 billion, a P/E ratio of 36.56, a price-to-earnings-growth ratio of 3.56 and a beta of 1.00. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $113.50.

Starbucks (NASDAQ:SBUX) last announced 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 company posted $0.90 earnings per share. As a group, equities analysts forecast that Starbucks Co. will post 2.99 EPS for the current year.

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.