West Michigan Advisors LLC Invests $265,000 in Starbucks Co. (NASDAQ:SBUX)

West Michigan Advisors LLC purchased a new position in shares of Starbucks Co. (NASDAQ:SBUX) during the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 2,905 shares of the coffee company’s stock, valued at approximately $265,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Kuhn & Co Investment Counsel grew its holdings in shares of Starbucks by 2.3% during the fourth quarter. Kuhn & Co Investment Counsel now owns 4,240 shares of the coffee company’s stock worth $387,000 after purchasing an additional 96 shares during the last quarter. Jmac Enterprises LLC lifted its position in Starbucks by 1.0% during the 4th quarter. Jmac Enterprises LLC now owns 9,995 shares of the coffee company’s stock worth $912,000 after buying an additional 103 shares in the last quarter. Aspire Capital Advisors LLC lifted its position in Starbucks by 0.5% during the 4th quarter. Aspire Capital Advisors LLC now owns 23,210 shares of the coffee company’s stock worth $2,118,000 after buying an additional 104 shares in the last quarter. Optas LLC grew its holdings in Starbucks by 0.6% during the 4th quarter. Optas LLC now owns 16,711 shares of the coffee company’s stock worth $1,525,000 after acquiring an additional 105 shares during the last quarter. Finally, Boomfish Wealth Group LLC increased its position in Starbucks by 0.7% in the 4th quarter. Boomfish Wealth Group LLC now owns 15,335 shares of the coffee company’s stock valued at $1,399,000 after acquiring an additional 108 shares in the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Trading Up 1.2 %

Shares of Starbucks stock opened at $115.81 on Friday. The stock’s fifty day simple moving average is $102.11 and its 200 day simple moving average is $98.51. The company has a market capitalization of $131.55 billion, a PE ratio of 37.36, a PEG ratio of 3.59 and a beta of 1.00. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $116.09.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results 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 earned $0.90 EPS. Analysts predict that Starbucks Co. will post 2.99 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently commented on SBUX. BMO Capital Markets increased their price target on shares of Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. UBS Group increased their price objective on Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Royal Bank of Canada restated an “outperform” rating and set a $115.00 target price on shares of Starbucks in a research report on Friday, January 24th. Wells Fargo & Company upped their price target on Starbucks from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Tuesday, February 25th. Finally, Redburn Atlantic reiterated a “sell” rating and issued a $77.00 price objective (down from $84.00) on shares of Starbucks in a research report on Wednesday, November 13th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $105.75.

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.