Family Legacy Inc. Increases Position in Starbucks Co. (NASDAQ:SBUX)

Family Legacy Inc. lifted its position in shares of Starbucks Co. (NASDAQ:SBUX) by 1.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 30,870 shares of the coffee company’s stock after buying an additional 316 shares during the quarter. Family Legacy Inc.’s holdings in Starbucks were worth $2,859,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of SBUX. Norges Bank purchased a new stake in Starbucks during the fourth quarter valued at $1,244,812,000. Wellington Management Group LLP grew its position in Starbucks by 100.6% in the third quarter. Wellington Management Group LLP now owns 15,149,937 shares of the coffee company’s stock worth $1,476,967,000 after acquiring an additional 7,598,146 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Starbucks during the fourth quarter worth approximately $284,283,000. Assenagon Asset Management S.A. raised its position in Starbucks by 1,491.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,808,571 shares of the coffee company’s stock valued at $256,282,000 after purchasing an additional 2,632,087 shares during the period. Finally, Zurich Insurance Group Ltd FI bought a new stake in shares of Starbucks in the 3rd quarter valued at approximately $126,574,000. Institutional investors own 72.29% of the company’s stock.

Starbucks Price Performance

Shares of Starbucks stock opened at $97.73 on Monday. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $117.46. The stock has a market cap of $111.01 billion, a PE ratio of 31.53, a price-to-earnings-growth ratio of 3.59 and a beta of 0.99. The firm has a fifty day moving average price of $105.75 and a 200 day moving average price of $99.55.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data 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 negative return on equity of 44.97% and a net margin of 9.73%. During the same period in the previous year, the firm posted $0.90 earnings per share. As a group, equities analysts expect that Starbucks Co. will post 2.99 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SBUX. Argus upgraded Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price target for the company in a research report on Tuesday, March 18th. Wells Fargo & Company raised their target price on shares of Starbucks from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Tuesday, February 25th. UBS Group increased their price objective on shares of Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. BMO Capital Markets boosted their price objective on Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. Finally, Wedbush increased their target price on Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Starbucks presently has a consensus rating of “Moderate Buy” and a consensus price target of $106.12.

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.