Delta Financial Group Inc. Makes New Investment in Starbucks Co. (NASDAQ:SBUX)

Delta Financial Group Inc. purchased a new position in Starbucks Co. (NASDAQ:SBUX) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,674 shares of the coffee company’s stock, valued at approximately $700,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of SBUX. International Assets Investment Management LLC increased its holdings in shares of Starbucks by 11,217.0% in the third quarter. International Assets Investment Management LLC now owns 752,355 shares of the coffee company’s stock worth $73,347,000 after purchasing an additional 745,707 shares during the period. Hennion & Walsh Asset Management Inc. grew its position in Starbucks by 31.8% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 3,766 shares of the coffee company’s stock worth $367,000 after buying an additional 909 shares in the last quarter. DT Investment Partners LLC raised its holdings in shares of Starbucks by 39.4% in the 3rd quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock valued at $42,000 after acquiring an additional 121 shares in the last quarter. Dakota Wealth Management grew its holdings in shares of Starbucks by 0.5% during the third quarter. Dakota Wealth Management now owns 55,793 shares of the coffee company’s stock worth $5,439,000 after purchasing an additional 300 shares in the last quarter. Finally, Legacy Capital Group California Inc. raised its stake in Starbucks by 14.2% in the third quarter. Legacy Capital Group California Inc. now owns 4,872 shares of the coffee company’s stock valued at $475,000 after purchasing an additional 607 shares in the last quarter. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Stock Down 1.4 %

Shares of Starbucks stock opened at $111.75 on Friday. The business has a 50 day moving average of $99.72 and a 200 day moving average of $97.30. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $114.68. The company has a market cap of $126.94 billion, a PE ratio of 36.05, a P/E/G ratio of 3.59 and a beta of 1.00.

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

Analysts Set New Price Targets

A number of equities analysts have recently commented on SBUX shares. Stifel Nicolaus increased their price target on shares of Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Royal Bank of Canada reissued an “outperform” rating and issued a $115.00 target price on shares of Starbucks in a research note on Friday, January 24th. Wedbush lifted their price target on Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Citigroup increased their price objective on Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Finally, Wells Fargo & Company boosted their target price on Starbucks from $110.00 to $115.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. Three analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $105.33.

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.