Starbucks Co. (NASDAQ:SBUX) Shares Purchased by Proficio Capital Partners LLC

Proficio Capital Partners LLC boosted its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 10.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,647 shares of the coffee company’s stock after buying an additional 714 shares during the quarter. Proficio Capital Partners LLC’s holdings in Starbucks were worth $698,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in SBUX. Financial Life Planners purchased a new position in shares of Starbucks in the 4th quarter valued at $25,000. Collier Financial acquired a new stake in shares of Starbucks in the fourth quarter valued at about $27,000. Marshall Investment Management LLC acquired a new stake in shares of Starbucks in the fourth quarter valued at about $30,000. Noble Wealth Management PBC acquired a new stake in shares of Starbucks in the fourth quarter valued at about $30,000. Finally, Centricity Wealth Management LLC acquired a new stake in shares of Starbucks in the fourth quarter valued at about $36,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Stock Performance

Shares of NASDAQ:SBUX opened at $97.07 on Friday. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $117.46. The company’s fifty day moving average is $105.41 and its 200-day moving average is $99.36. The company has a market capitalization of $110.26 billion, a PE ratio of 31.31, a P/E/G ratio of 3.59 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, beating 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 EPS. On average, analysts forecast that Starbucks Co. will post 2.99 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Barclays raised their target price on shares of Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. 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 report on Wednesday, January 29th. UBS Group boosted their target price on shares of Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Wells Fargo & Company lifted their price target on shares of Starbucks from $115.00 to $125.00 and gave the company an “overweight” rating in a research report on Tuesday, February 25th. Finally, 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. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $106.12.

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.