Cinctive Capital Management LP Boosts Holdings in Starbucks Co. (NASDAQ:SBUX)

Cinctive Capital Management LP increased its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 45.5% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 79,616 shares of the coffee company’s stock after purchasing an additional 24,888 shares during the period. Cinctive Capital Management LP’s holdings in Starbucks were worth $7,265,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Financial Life Planners purchased a new stake in shares of Starbucks during the fourth quarter worth $25,000. Graney & King LLC purchased a new stake in Starbucks during the 4th quarter worth about $26,000. Collier Financial acquired a new stake in Starbucks in the 4th quarter valued at about $27,000. Runnymede Capital Advisors Inc. purchased a new position in shares of Starbucks in the 4th quarter valued at about $27,000. Finally, Marshall Investment Management LLC purchased a new stake in shares of Starbucks during the fourth quarter worth approximately $30,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Price Performance

Shares of NASDAQ SBUX opened at $98.23 on Wednesday. The company has a market cap of $111.58 billion, a PE ratio of 31.69, a price-to-earnings-growth ratio of 3.59 and a beta of 0.99. The company has a 50-day simple moving average of $105.81 and a 200-day simple moving average of $99.54. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $117.46.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share 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 period in the prior year, the firm posted $0.90 earnings per share. On average, analysts anticipate that Starbucks Co. will post 2.99 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. BMO Capital Markets increased their price objective 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. Wells Fargo & Company increased their target price on shares of Starbucks from $115.00 to $125.00 and gave the company an “overweight” rating in a research report on Tuesday, February 25th. Barclays upped their price objective on shares of Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Stifel Nicolaus upped their price target on Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Finally, Argus upgraded shares of Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price objective on the stock in a research report on Tuesday, March 18th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $106.12.

Starbucks 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.