Strategic Financial Concepts LLC Takes Position in Starbucks Co. (NASDAQ:SBUX)

Strategic Financial Concepts LLC purchased a new stake in shares of Starbucks Co. (NASDAQ:SBUX) during the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 61,131 shares of the coffee company’s stock, valued at approximately $62,000.

Other hedge funds also recently made changes to their positions in the company. State Street Corp increased its stake in shares of Starbucks by 1.0% during the third 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 during the period. Geode Capital Management LLC increased its stake in shares of Starbucks by 1.4% during the third quarter. Geode Capital Management LLC now owns 24,277,756 shares of the coffee company’s stock valued at $2,358,464,000 after acquiring an additional 333,004 shares during the period. FMR LLC increased its stake in shares of Starbucks by 55.0% during the third quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock valued at $1,928,339,000 after acquiring an additional 7,015,375 shares during the period. Wellington Management Group LLP increased its stake in shares of Starbucks by 100.6% during the third quarter. Wellington Management Group LLP now owns 15,149,937 shares of the coffee company’s stock valued at $1,476,967,000 after acquiring an additional 7,598,146 shares during the period. Finally, Fisher Asset Management LLC grew its position in Starbucks by 2.9% in the third quarter. Fisher Asset Management LLC now owns 11,762,684 shares of the coffee company’s stock worth $1,146,744,000 after buying an additional 327,734 shares during the last quarter. Institutional investors own 72.29% of the company’s stock.

Starbucks Stock Down 1.4 %

NASDAQ SBUX opened at $111.75 on Friday. The company has a market cap of $126.94 billion, a PE ratio of 36.05, a price-to-earnings-growth ratio of 3.56 and a beta of 1.00. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $114.68. The firm’s 50-day simple moving average is $99.72 and its two-hundred day simple moving average is $97.15.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share 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 quarter in the previous year, the firm earned $0.90 EPS. As a group, equities research analysts anticipate that Starbucks Co. will post 2.99 EPS for the current year.

Analyst Ratings Changes

Several research firms have issued reports on SBUX. BMO Capital Markets lifted their price target on shares of Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. TD Cowen restated a “buy” rating and issued a $110.00 price target on shares of Starbucks in a research report on Monday, November 11th. Wells Fargo & Company lifted their price target on shares of Starbucks from $110.00 to $115.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. Citigroup lifted their price target on shares of Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $115.00 price objective on shares of Starbucks in a research note on Friday, January 24th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $105.33.

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.