Starbucks Co. (NASDAQ:SBUX) Shares Acquired by VELA Investment Management LLC

VELA Investment Management LLC increased its holdings in Starbucks Co. (NASDAQ:SBUX) by 31.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 42,122 shares of the coffee company’s stock after buying an additional 10,155 shares during the period. Starbucks makes up about 1.1% of VELA Investment Management LLC’s portfolio, making the stock its 18th largest holding. VELA Investment Management LLC’s holdings in Starbucks were worth $3,844,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of SBUX. Financial Life Planners acquired a new stake in shares of Starbucks in the 4th quarter worth approximately $25,000. Collier Financial acquired a new stake in shares of Starbucks during the fourth quarter valued at approximately $27,000. Marshall Investment Management LLC acquired a new stake in shares of Starbucks during the fourth quarter valued at approximately $30,000. Centricity Wealth Management LLC acquired a new stake in shares of Starbucks during the fourth quarter valued at approximately $36,000. Finally, FSA Wealth Management LLC acquired a new stake in shares of Starbucks during the third quarter valued at approximately $49,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. BMO Capital Markets boosted their price target on shares of Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. Citigroup boosted their price target on shares of Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Wedbush boosted their price target on shares of Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Royal Bank of Canada restated an “outperform” rating and set a $115.00 price target on shares of Starbucks in a report on Friday, January 24th. Finally, Stifel Nicolaus upped their price objective 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. Three analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $105.75.

Starbucks Stock Performance

NASDAQ:SBUX opened at $114.49 on Friday. The company has a 50-day moving average of $101.55 and a 200-day moving average of $98.22. The company has a market capitalization of $130.05 billion, a price-to-earnings ratio of 36.93, a PEG ratio of 3.59 and a beta of 1.00. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $115.70.

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, beating 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 in the prior year, the company posted $0.90 earnings per share. Sell-side analysts forecast that Starbucks Co. will post 2.99 EPS for the current year.

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.