Nemes Rush Group LLC Purchases 1,935 Shares of Starbucks Co. (NASDAQ:SBUX)

Nemes Rush Group LLC boosted its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 9.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,998 shares of the coffee company’s stock after buying an additional 1,935 shares during the period. Nemes Rush Group LLC’s holdings in Starbucks were worth $2,099,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of SBUX. Norges Bank bought a new stake in shares of Starbucks in the 4th quarter valued at approximately $1,244,812,000. Wellington Management Group LLP boosted its stake in Starbucks by 100.6% in the 3rd quarter. Wellington Management Group LLP now owns 15,149,937 shares of the coffee company’s stock valued at $1,476,967,000 after buying an additional 7,598,146 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Starbucks in the 4th quarter valued at $284,283,000. Assenagon Asset Management S.A. grew its position in Starbucks by 1,491.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,808,571 shares of the coffee company’s stock valued at $256,282,000 after acquiring an additional 2,632,087 shares during the period. Finally, Zurich Insurance Group Ltd FI acquired a new stake in shares of Starbucks in the 3rd quarter valued at $126,574,000. Institutional investors own 72.29% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $115.00 price target on shares of Starbucks in a report on Friday, January 24th. Wedbush lifted their target price on shares of Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Argus raised Starbucks from a “hold” rating to a “buy” rating and set a $115.00 target price on the stock in a report on Tuesday, March 18th. Barclays raised their price target on Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Finally, UBS Group boosted their price objective on Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Starbucks has an average rating of “Moderate Buy” and an average target price of $106.12.

Starbucks Trading Up 0.4 %

NASDAQ:SBUX opened at $98.09 on Tuesday. The firm has a market capitalization of $111.42 billion, a price-to-earnings ratio of 31.64, a PEG 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. The business’s 50-day moving average price is $105.81 and its two-hundred day moving average price is $99.54.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, topping 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 last year, the business posted $0.90 EPS. Sell-side analysts predict that Starbucks Co. will post 2.99 earnings per share for the current 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.