American Assets Investment Management LLC Boosts Stake in Starbucks Co. (NASDAQ:SBUX)

American Assets Investment Management LLC increased its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 50.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 60,000 shares of the coffee company’s stock after buying an additional 20,000 shares during the quarter. American Assets Investment Management LLC’s holdings in Starbucks were worth $5,475,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Starbucks by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 111,106,209 shares of the coffee company’s stock valued at $10,138,442,000 after acquiring an additional 784,432 shares during the period. Capital World Investors boosted its holdings in Starbucks by 20.1% in the fourth quarter. Capital World Investors now owns 54,924,230 shares of the coffee company’s stock valued at $5,011,796,000 after purchasing an additional 9,174,682 shares during the last quarter. State Street Corp grew its position in Starbucks by 1.0% during the 3rd quarter. State Street Corp now owns 45,974,407 shares of the coffee company’s stock worth $4,482,045,000 after purchasing an additional 437,218 shares during the period. FMR LLC raised its stake in shares of Starbucks by 27.0% during the 4th quarter. FMR LLC now owns 25,128,649 shares of the coffee company’s stock valued at $2,292,989,000 after buying an additional 5,348,790 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Starbucks by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 24,826,001 shares of the coffee company’s stock worth $2,259,516,000 after buying an additional 548,245 shares during the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SBUX has been the topic of several analyst reports. BMO Capital Markets raised their price target on shares of Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. UBS Group lifted their price target on Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Barclays increased their price target on Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Stifel Nicolaus boosted their price objective on Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Finally, Wells Fargo & Company lifted their price target on shares of Starbucks from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Tuesday, February 25th. 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 assigned a strong buy rating to the stock. According to data from MarketBeat, Starbucks presently has a consensus rating of “Moderate Buy” and an average target price of $105.75.

Starbucks Trading Up 1.0 %

Shares of NASDAQ:SBUX opened at $99.08 on Tuesday. The company has a market capitalization of $112.54 billion, a price-to-earnings ratio of 31.96, a PEG ratio of 3.59 and a beta of 0.99. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $117.46. The business has a 50-day moving average price of $104.94 and a 200 day moving average price of $99.28.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share 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 previous year, the firm earned $0.90 earnings per share. As a group, equities research analysts predict that Starbucks Co. will post 2.99 earnings per share for the current fiscal 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.