Alley Investment Management Company LLC Has $13.42 Million Position in Starbucks Co. (NASDAQ:SBUX)

Alley Investment Management Company LLC increased its position in Starbucks Co. (NASDAQ:SBUX) by 2.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 147,061 shares of the coffee company’s stock after buying an additional 2,994 shares during the quarter. Starbucks accounts for approximately 1.7% of Alley Investment Management Company LLC’s investment portfolio, making the stock its 26th largest position. Alley Investment Management Company LLC’s holdings in Starbucks were worth $13,419,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP grew its position in shares of Starbucks by 100.6% during 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. FMR LLC boosted its stake in Starbucks by 55.0% during the third quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock worth $1,928,339,000 after acquiring an additional 7,015,375 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in Starbucks by 1,491.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,808,571 shares of the coffee company’s stock worth $256,282,000 after purchasing an additional 2,632,087 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its stake in Starbucks by 1,078.5% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,545,419 shares of the coffee company’s stock valued at $248,153,000 after purchasing an additional 2,329,431 shares in the last quarter. Finally, Zurich Insurance Group Ltd FI acquired a new position in shares of Starbucks during the third quarter valued at about $126,574,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Wall Street Analysts Forecast Growth

SBUX has been the subject of several research reports. UBS Group raised their target price on Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Barclays upped their target price on Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Wedbush lifted their price target on shares of Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. TD Cowen restated a “buy” rating and set a $110.00 price objective on shares of Starbucks in a report on Monday, November 11th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $115.00 price objective on shares of Starbucks in a report on Friday, January 24th. 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 assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $105.75.

Starbucks Trading Down 0.3 %

SBUX opened at $115.41 on Tuesday. 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 cap of $131.09 billion, a PE ratio of 37.23, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $117.46.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, topping 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 prior year, the firm posted $0.90 earnings per share. Research analysts forecast 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.