Wallace Hart LLC Raises Stake in Starbucks Co. (NASDAQ:SBUX)

Wallace Hart LLC raised its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 19.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,189 shares of the coffee company’s stock after buying an additional 520 shares during the quarter. Starbucks comprises 0.2% of Wallace Hart LLC’s portfolio, making the stock its 19th largest holding. Wallace Hart LLC’s holdings in Starbucks were worth $291,000 as of its most recent filing with the Securities & Exchange Commission.

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

Starbucks Stock Down 5.0 %

NASDAQ:SBUX opened at $101.13 on Tuesday. The firm has a market capitalization of $114.87 billion, a P/E ratio of 32.62, a P/E/G ratio of 3.59 and a beta of 0.99. The company has a fifty day moving average of $104.31 and a 200 day moving average of $99.19. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $117.46.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data 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 quarter in the prior year, the business earned $0.90 earnings per share. As a group, analysts anticipate that Starbucks Co. will post 2.99 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. UBS Group boosted their target price on Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Barclays boosted their price objective on Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. TD Cowen reaffirmed a “buy” rating and issued a $110.00 target price on shares of Starbucks in a research note on Monday, November 11th. Wells Fargo & Company boosted their price target on shares of Starbucks from $115.00 to $125.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 25th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $115.00 price target 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 assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Starbucks has an average rating of “Moderate Buy” and an average target price of $105.75.

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.