Centricity Wealth Management LLC Makes New Investment in Starbucks Co. (NASDAQ:SBUX)

Centricity Wealth Management LLC bought a new stake in shares of Starbucks Co. (NASDAQ:SBUX) during the fourth quarter, Holdings Channel.com reports. The fund bought 400 shares of the coffee company’s stock, valued at approximately $36,000.

Several other institutional investors and hedge funds have also recently modified their holdings of SBUX. State Street Corp increased its position in shares of Starbucks by 1.0% in the third quarter. State Street Corp now owns 45,974,407 shares of the coffee company’s stock valued at $4,482,045,000 after buying an additional 437,218 shares in the last quarter. Geode Capital Management LLC grew 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 valued at $2,358,464,000 after acquiring an additional 333,004 shares during the period. FMR LLC increased its holdings in Starbucks by 55.0% in the 3rd quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock worth $1,928,339,000 after acquiring an additional 7,015,375 shares in the last quarter. Wellington Management Group LLP raised its position 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 worth $1,476,967,000 after acquiring an additional 7,598,146 shares during the period. Finally, Fisher Asset Management LLC lifted its holdings in Starbucks by 2.9% during the third quarter. Fisher Asset Management LLC now owns 11,762,684 shares of the coffee company’s stock valued at $1,146,744,000 after purchasing an additional 327,734 shares in the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Stock Performance

Shares of Starbucks stock opened at $111.75 on Friday. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $114.68. The firm has a market capitalization of $126.94 billion, a price-to-earnings ratio of 36.05, a PEG ratio of 3.56 and a beta of 1.00. The stock has a 50 day moving average of $99.72 and a 200 day moving average of $97.15.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, topping 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 quarter in the prior year, the business posted $0.90 earnings per share. Analysts forecast that Starbucks Co. will post 2.99 EPS for the current year.

Analyst Ratings Changes

A number of research firms have recently commented on SBUX. Stifel Nicolaus boosted their target price on shares of Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. BMO Capital Markets boosted 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. Royal Bank of Canada restated an “outperform” rating and issued a $115.00 target price on shares of Starbucks in a research report on Friday, January 24th. Wedbush boosted their price target on Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Finally, Citigroup raised their price objective on Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Starbucks has a consensus rating of “Moderate Buy” and a consensus target price of $105.33.

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.