Starbucks Co. (NASDAQ:SBUX) Stock Holdings Increased by Summitry LLC

Summitry LLC boosted its holdings in Starbucks Co. (NASDAQ:SBUX) by 2.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 544,407 shares of the coffee company’s stock after buying an additional 14,955 shares during the quarter. Starbucks accounts for about 2.4% of Summitry LLC’s investment portfolio, making the stock its 17th largest position. Summitry LLC’s holdings in Starbucks were worth $49,677,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of Starbucks by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 111,106,209 shares of the coffee company’s stock worth $10,138,442,000 after acquiring an additional 784,432 shares during the last quarter. State Street Corp boosted its position in shares of Starbucks by 1.0% in the 3rd quarter. State Street Corp now owns 45,974,407 shares of the coffee company’s stock valued at $4,482,045,000 after purchasing an additional 437,218 shares during the period. Geode Capital Management LLC increased its stake in Starbucks by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 24,277,756 shares of the coffee company’s stock worth $2,358,464,000 after purchasing an additional 333,004 shares in the last quarter. FMR LLC raised its holdings in Starbucks by 55.0% during the 3rd 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 during the period. Finally, Wellington Management Group LLP lifted its stake in 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 buying an additional 7,598,146 shares in the last quarter. Institutional investors own 72.29% of the company’s stock.

Starbucks Stock Performance

Shares of NASDAQ SBUX opened at $95.88 on Wednesday. The business’s 50-day simple moving average is $105.51 and its 200-day simple moving average is $99.48. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $117.46. The firm has a market cap of $108.91 billion, a price-to-earnings ratio of 30.93, a P/E/G ratio of 3.59 and a beta of 0.99.

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

Analysts Set New Price Targets

SBUX has been the topic of a number of recent analyst reports. Argus upgraded shares of Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price target on the stock in a report on Tuesday, March 18th. Wedbush increased their target price on Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Wells Fargo & Company lifted their price target on Starbucks from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Tuesday, February 25th. BMO Capital Markets increased their price objective on Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $115.00 target price on shares of Starbucks in a research note on Friday, January 24th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $106.12.

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.