Runnymede Capital Advisors Inc. Makes New Investment in Starbucks Co. (NASDAQ:SBUX)

Runnymede Capital Advisors Inc. bought a new position in shares of Starbucks Co. (NASDAQ:SBUX) in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 300 shares of the coffee company’s stock, valued at approximately $27,000.

A number of other large investors have also recently added to or reduced their stakes in SBUX. Financial Life Planners bought a new position in shares of Starbucks in the 4th quarter valued at about $25,000. Collier Financial bought a new position in shares of Starbucks in the 4th quarter valued at about $27,000. Marshall Investment Management LLC bought a new position in shares of Starbucks in the 4th quarter valued at about $30,000. Noble Wealth Management PBC bought a new position in shares of Starbucks in the 4th quarter valued at about $30,000. Finally, Centricity Wealth Management LLC bought a new position in shares of Starbucks in the 4th quarter valued at about $36,000. Institutional investors own 72.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. UBS Group raised their price objective on 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 Starbucks from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Tuesday, February 25th. Stifel Nicolaus lifted their price target on Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Argus upgraded Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price target for the company in a report on Tuesday, March 18th. Finally, Barclays lifted their price target on Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $106.12.

Starbucks Price Performance

Shares of NASDAQ:SBUX opened at $97.07 on Friday. The company’s 50 day simple moving average is $105.41 and its 200 day simple moving average is $99.36. The stock has a market capitalization of $110.26 billion, a price-to-earnings ratio of 31.31, 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 data on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (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 business earned $0.90 EPS. As a group, analysts anticipate that Starbucks Co. will post 2.99 EPS for the current fiscal year.

Starbucks 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.