SlateStone Wealth LLC Raises Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

SlateStone Wealth LLC lifted its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 1.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 58,634 shares of the coffee company’s stock after acquiring an additional 779 shares during the quarter. SlateStone Wealth LLC’s holdings in Starbucks were worth $5,350,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of SBUX. Financial Life Planners purchased a new stake in shares of Starbucks during the fourth quarter valued at approximately $25,000. Collier Financial purchased a new stake in shares of Starbucks during the fourth quarter valued at approximately $27,000. Marshall Investment Management LLC purchased a new stake in shares of Starbucks during the fourth quarter valued at approximately $30,000. Noble Wealth Management PBC purchased a new stake in shares of Starbucks during the fourth quarter valued at approximately $30,000. Finally, Centricity Wealth Management LLC bought a new position in Starbucks during the fourth quarter valued at $36,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Stock Up 2.2 %

Shares of SBUX stock opened at $98.11 on Friday. The business has a 50-day moving average price of $104.82 and a two-hundred day moving average price of $99.22. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $117.46. The firm has a market cap of $111.44 billion, a P/E ratio of 31.65, a price-to-earnings-growth ratio of 3.59 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last released its 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 negative return on equity of 44.97% and a net margin of 9.73%. During the same period last year, the firm posted $0.90 earnings per share. As a group, research analysts expect that Starbucks Co. will post 2.99 EPS for the current fiscal year.

Analyst Ratings Changes

SBUX has been the subject of a number of recent research reports. Wedbush raised their target price on Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report 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. UBS Group raised their target price on Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Royal Bank of Canada reissued an “outperform” rating and issued a $115.00 target price on shares of Starbucks in a research report on Friday, January 24th. Finally, Barclays raised their target price on Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Starbucks presently has an average rating of “Moderate Buy” and a consensus price target of $105.75.

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.