Avantax Planning Partners Inc. Buys 462 Shares of Starbucks Co. (NASDAQ:SBUX)

Avantax Planning Partners Inc. grew its stake in Starbucks Co. (NASDAQ:SBUX) by 3.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 12,938 shares of the coffee company’s stock after acquiring an additional 462 shares during the period. Avantax Planning Partners Inc.’s holdings in Starbucks were worth $1,181,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of SBUX. Financial Life Planners bought a new position in Starbucks in the 4th quarter valued at about $25,000. Collier Financial acquired a new position in shares of Starbucks in the fourth quarter valued at approximately $27,000. Marshall Investment Management LLC bought a new position in shares of Starbucks during the fourth quarter worth approximately $30,000. Noble Wealth Management PBC acquired a new stake in Starbucks during the 4th quarter worth approximately $30,000. Finally, Centricity Wealth Management LLC bought a new stake in Starbucks in the 4th quarter valued at $36,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Price Performance

SBUX stock opened at $99.58 on Wednesday. The company’s 50-day moving average is $104.48 and its 200-day moving average is $99.23. The stock has a market capitalization of $113.11 billion, a PE ratio of 32.12, a price-to-earnings-growth ratio of 3.59 and a beta of 0.99. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $117.46.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, topping 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 period last year, the company earned $0.90 EPS. On average, analysts anticipate that Starbucks Co. will post 2.99 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on SBUX shares. Stifel Nicolaus increased their price objective on Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Royal Bank of Canada reiterated an “outperform” rating and issued a $115.00 price objective on shares of Starbucks in a research note on Friday, January 24th. Barclays increased their target price on shares of Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a research 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, UBS Group increased their price target on Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Three research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $105.75.

Starbucks Company 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.