Parcion Private Wealth LLC Has $1.29 Million Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Parcion Private Wealth LLC grew its holdings in Starbucks Co. (NASDAQ:SBUX) by 2.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 14,078 shares of the coffee company’s stock after acquiring an additional 278 shares during the period. Parcion Private Wealth LLC’s holdings in Starbucks were worth $1,285,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in SBUX. Financial Life Planners acquired a new stake in shares of Starbucks in the fourth quarter valued at approximately $25,000. Collier Financial acquired a new stake in shares of Starbucks in the fourth quarter valued at approximately $27,000. DT Investment Partners LLC lifted its position in shares of Starbucks by 39.4% in the third quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock valued at $42,000 after buying an additional 121 shares during the last quarter. Morton Brown Family Wealth LLC lifted its position in shares of Starbucks by 43.9% in the fourth quarter. Morton Brown Family Wealth LLC now owns 505 shares of the coffee company’s stock valued at $46,000 after buying an additional 154 shares during the last quarter. Finally, FSA Wealth Management LLC acquired a new stake in shares of Starbucks in the third quarter valued at approximately $49,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Price Performance

Shares of Starbucks stock opened at $112.49 on Thursday. Starbucks Co. has a one year low of $71.55 and a one year high of $113.47. The firm has a market capitalization of $127.78 billion, a price-to-earnings ratio of 36.29, a PEG ratio of 3.56 and a beta of 1.00. The business has a 50-day simple moving average of $99.13 and a 200 day simple moving average of $96.77.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates 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 quarter last year, the company posted $0.90 earnings per share. On average, sell-side analysts expect that Starbucks Co. will post 3 EPS for the current year.

Analyst Ratings Changes

A number of research firms have recently issued reports on SBUX. TD Cowen reaffirmed a “buy” rating and issued a $110.00 price objective on shares of Starbucks in a research report on Monday, November 11th. Wells Fargo & Company increased their target price on Starbucks from $110.00 to $115.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. Barclays increased their target price on Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. BMO Capital Markets increased their target price on Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Finally, Redburn Atlantic reiterated a “sell” rating and set a $77.00 target price (down previously from $84.00) on shares of Starbucks in a research note on Wednesday, November 13th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Starbucks has a consensus rating of “Moderate Buy” and a consensus price target of $105.33.

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.