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

Aspen Wealth Strategies LLC lifted its stake in Starbucks Co. (NASDAQ:SBUX) by 60.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,153 shares of the coffee company’s stock after acquiring an additional 2,702 shares during the period. 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 have also made changes to their positions in the stock. State Street Corp raised its stake 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 valued at $4,482,045,000 after acquiring an additional 437,218 shares in the last quarter. Geode Capital Management LLC increased 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 worth $2,358,464,000 after buying an additional 333,004 shares during the period. FMR LLC increased its position in Starbucks by 55.0% in the 3rd quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock worth $1,928,339,000 after buying an additional 7,015,375 shares during the period. Wellington Management Group LLP increased its position in Starbucks by 100.6% in the 3rd quarter. Wellington Management Group LLP now owns 15,149,937 shares of the coffee company’s stock worth $1,476,967,000 after buying an additional 7,598,146 shares during the period. Finally, Fisher Asset Management LLC increased its position in Starbucks by 1.3% in the 4th quarter. Fisher Asset Management LLC now owns 11,916,777 shares of the coffee company’s stock worth $1,087,406,000 after buying an additional 154,093 shares during the period. 72.29% of the stock is owned by institutional investors.

Starbucks Stock Performance

Starbucks stock opened at $99.08 on Tuesday. The firm has a market cap of $112.54 billion, a P/E ratio of 31.96, a P/E/G ratio of 3.59 and a beta of 0.99. The business’s fifty day moving average is $104.94 and its two-hundred day moving average is $99.28. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $117.46.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, topping 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 period last year, the company earned $0.90 EPS. On average, equities research analysts predict that Starbucks Co. will post 2.99 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. BMO Capital Markets lifted their price target on Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. UBS Group lifted 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. Wedbush lifted their price target on Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Wells Fargo & Company lifted their price target on Starbucks from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 25th. Finally, 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. Three analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $105.75.

Starbucks 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.