Lorne Steinberg Wealth Management Inc. Buys 735 Shares of Starbucks Co. (NASDAQ:SBUX)

Lorne Steinberg Wealth Management Inc. grew its stake in Starbucks Co. (NASDAQ:SBUX) by 1.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,675 shares of the coffee company’s stock after acquiring an additional 735 shares during the period. Lorne Steinberg Wealth Management Inc.’s holdings in Starbucks were worth $4,898,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in SBUX. Financial Life Planners bought a new position in Starbucks in the 4th quarter worth about $25,000. Collier Financial bought a new position in Starbucks in the 4th quarter worth about $27,000. DT Investment Partners LLC grew its stake in Starbucks by 39.4% in the 3rd quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock worth $42,000 after acquiring an additional 121 shares in the last quarter. Morton Brown Family Wealth LLC grew its stake in Starbucks by 43.9% in the 4th 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 in the last quarter. Finally, FSA Wealth Management LLC bought a new position in Starbucks in the 3rd quarter worth about $49,000. 72.29% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

SBUX has been the topic of a number of recent research reports. TD Cowen reiterated a “buy” rating and set a $110.00 price objective on shares of Starbucks in a research note on Monday, November 11th. Redburn Atlantic reiterated a “sell” rating and set a $77.00 price objective (down from $84.00) on shares of Starbucks in a research note on Wednesday, November 13th. Barclays increased their price objective on shares of Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. 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 note on Wednesday, January 29th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $115.00 price objective on shares of Starbucks in a research note on Friday, January 24th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $105.33.

Insider Transactions at Starbucks

In related news, CFO Rachel Ruggeri sold 1,491 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $99.54, for a total transaction of $148,414.14. Following the completion of the transaction, the chief financial officer now directly owns 80,124 shares in the company, valued at $7,975,542.96. The trade was a 1.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.09% of the company’s stock.

Starbucks Trading Up 0.4 %

NASDAQ SBUX opened at $113.03 on Wednesday. The company has a fifty day simple moving average of $98.85 and a two-hundred day simple moving average of $96.66. The stock has a market cap of $128.39 billion, a P/E ratio of 36.46, a P/E/G ratio of 3.55 and a beta of 1.00. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $113.47.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 earned $0.90 earnings per share. As a group, sell-side analysts forecast that Starbucks Co. will post 3 earnings per share 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.