Starbucks Co. (NASDAQ:SBUX) Position Boosted by OV Management LLC

OV Management LLC boosted its position in Starbucks Co. (NASDAQ:SBUX) by 9.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,362 shares of the coffee company’s stock after buying an additional 1,838 shares during the quarter. Starbucks makes up about 0.9% of OV Management LLC’s investment portfolio, making the stock its 28th biggest holding. OV Management LLC’s holdings in Starbucks were worth $2,041,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of SBUX. Financial Life Planners bought a new stake in Starbucks in the fourth quarter valued at $25,000. Graney & King LLC acquired a new position in Starbucks during the 4th quarter valued at about $26,000. Collier Financial bought a new position in Starbucks in the 4th quarter worth about $27,000. Runnymede Capital Advisors Inc. bought a new stake in shares of Starbucks during the fourth quarter valued at approximately $27,000. Finally, Marshall Investment Management LLC acquired a new position in shares of Starbucks during the fourth quarter worth approximately $30,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Price Performance

Shares of Starbucks stock opened at $98.09 on Tuesday. The firm has a fifty day moving average price of $105.81 and a two-hundred day moving average price of $99.54. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $117.46. The company has a market cap of $111.42 billion, a PE ratio of 31.64, a price-to-earnings-growth ratio of 3.59 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results 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 negative return on equity of 44.97% and a net margin of 9.73%. During the same period in the previous year, the business posted $0.90 earnings per share. Analysts expect that Starbucks Co. will post 2.99 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SBUX. Wells Fargo & Company lifted their target price on Starbucks from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Tuesday, February 25th. UBS Group upped their price objective on shares of Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Stifel Nicolaus raised their target price on shares of Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a research note on Monday, January 27th. BMO Capital Markets upped their price target on shares of Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Finally, Argus upgraded shares of Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price objective for the company in a report on Tuesday, March 18th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $106.12.

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.