Balboa Wealth Partners Has $309,000 Stake in Starbucks Co. (NASDAQ:SBUX)

Balboa Wealth Partners lowered its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 12.0% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 3,387 shares of the coffee company’s stock after selling 463 shares during the period. Balboa Wealth Partners’ holdings in Starbucks were worth $309,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Wellington Management Group LLP increased its position in shares of Starbucks by 100.6% during the third quarter. Wellington Management Group LLP now owns 15,149,937 shares of the coffee company’s stock valued at $1,476,967,000 after purchasing an additional 7,598,146 shares during the period. FMR LLC boosted its stake in Starbucks by 55.0% during the third quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock worth $1,928,339,000 after buying an additional 7,015,375 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Starbucks in the 4th quarter valued at $284,283,000. Assenagon Asset Management S.A. raised its stake in shares of Starbucks by 1,491.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 2,808,571 shares of the coffee company’s stock valued at $256,282,000 after buying an additional 2,632,087 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Starbucks by 1,078.5% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,545,419 shares of the coffee company’s stock worth $248,153,000 after acquiring an additional 2,329,431 shares during the period. Institutional investors own 72.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. UBS Group upped their target price on shares of Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Barclays upped their price objective on Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Wells Fargo & Company raised their target price on Starbucks from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 25th. BMO Capital Markets upped their price target on Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Finally, Stifel Nicolaus lifted their price objective on Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a report on Monday, January 27th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned 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 a consensus target price of $105.75.

Starbucks Stock Down 2.7 %

SBUX stock opened at $96.04 on Friday. The business has a fifty day moving average of $104.71 and a 200-day moving average of $99.20. The company has a market cap of $109.09 billion, a P/E ratio of 30.98, a PEG ratio of 3.59 and a beta of 0.99. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $117.46.

Starbucks (NASDAQ:SBUX) last released its earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm posted $0.90 EPS. As a group, equities research analysts anticipate that Starbucks Co. will post 2.99 earnings per share for the current fiscal 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.