Mainstream Capital Management LLC Buys Shares of 517 Starbucks Co. (NASDAQ:SBUX)

Mainstream Capital Management LLC acquired a new position in shares of Starbucks Co. (NASDAQ:SBUX) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 517 shares of the coffee company’s stock, valued at approximately $47,000.

Several other hedge funds have also modified their holdings of SBUX. Financial Life Planners acquired a new stake in shares of Starbucks in the 4th quarter worth $25,000. Collier Financial acquired a new position in Starbucks in the 4th quarter worth approximately $27,000. Marshall Investment Management LLC purchased a new position in shares of Starbucks during the fourth quarter worth $30,000. Noble Wealth Management PBC purchased a new position in shares of Starbucks during the 4th quarter valued at about $30,000. Finally, Centricity Wealth Management LLC purchased a new position in Starbucks during the fourth quarter valued at approximately $36,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Wedbush upped their price objective on shares of Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. UBS Group raised their price objective on Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Redburn Atlantic restated a “sell” rating and set a $77.00 target price (down from $84.00) on shares of Starbucks in a report on Wednesday, November 13th. BMO Capital Markets boosted their price target on shares of Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Finally, Barclays increased their price objective on Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Starbucks has a consensus rating of “Moderate Buy” and an average target price of $105.75.

Starbucks Stock Down 0.3 %

Shares of Starbucks stock opened at $115.41 on Tuesday. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $117.46. The company has a 50 day moving average of $102.67 and a 200 day moving average of $98.68. The company has a market capitalization of $131.09 billion, a P/E ratio of 37.23, a P/E/G ratio of 3.59 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, topping 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 company posted $0.90 earnings per share. As a group, research analysts anticipate that Starbucks Co. will post 2.99 earnings per share for the current fiscal year.

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.