Starbucks Co. (NASDAQ:SBUX) Stake Boosted by Cornerstone Advisors LLC

Cornerstone Advisors LLC increased its holdings in Starbucks Co. (NASDAQ:SBUX) by 1.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,700 shares of the coffee company’s stock after buying an additional 800 shares during the quarter. Cornerstone Advisors LLC’s holdings in Starbucks were worth $4,444,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. CWA Asset Management Group LLC bought a new position in Starbucks during the 3rd quarter valued at $485,000. Verdence Capital Advisors LLC boosted its position in shares of Starbucks by 6.3% in the third quarter. Verdence Capital Advisors LLC now owns 6,143 shares of the coffee company’s stock worth $599,000 after buying an additional 365 shares during the period. Assetmark Inc. boosted its position in Starbucks by 5.8% during the third quarter. Assetmark Inc. now owns 35,347 shares of the coffee company’s stock valued at $3,446,000 after purchasing an additional 1,940 shares during the last quarter. Sigma Planning Corp boosted its position in Starbucks by 5.9% during the third quarter. Sigma Planning Corp now owns 20,323 shares of the coffee company’s stock valued at $1,981,000 after purchasing an additional 1,131 shares during the last quarter. Finally, Legacy Capital Wealth Partners LLC acquired a new stake in Starbucks during the third quarter valued at $267,000. 72.29% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Wedbush raised their target price on Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Wells Fargo & Company lifted their price objective on Starbucks from $115.00 to $125.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 25th. Redburn Atlantic reissued a “sell” rating and set a $77.00 target price (down from $84.00) on shares of Starbucks in a research report on Wednesday, November 13th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $115.00 price objective on shares of Starbucks in a report on Friday, January 24th. Finally, BMO Capital Markets lifted their price objective on Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Starbucks currently has a consensus rating of “Moderate Buy” and an average price target of $105.75.

Starbucks Stock Performance

Shares of Starbucks stock opened at $101.13 on Tuesday. The firm has a fifty day moving average of $104.31 and a two-hundred day moving average of $99.19. The stock has a market capitalization of $114.87 billion, a price-to-earnings ratio of 32.62, a PEG ratio of 3.59 and a beta of 0.99. Starbucks Co. has a 52 week low of $71.55 and a 52 week 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, beating 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 posted $0.90 earnings per share. As a group, research analysts forecast that Starbucks Co. will post 2.99 EPS for the current fiscal 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.