Los Angeles Capital Management LLC Buys 173,213 Shares of Starbucks Co. (NASDAQ:SBUX)

Los Angeles Capital Management LLC lifted its stake in Starbucks Co. (NASDAQ:SBUX) by 51.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 507,206 shares of the coffee company’s stock after acquiring an additional 173,213 shares during the period. Los Angeles Capital Management LLC’s holdings in Starbucks were worth $46,283,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in SBUX. Financial Life Planners purchased a new stake in shares of Starbucks in the fourth quarter worth $25,000. Collier Financial purchased a new stake in shares of Starbucks in the fourth quarter worth $27,000. Marshall Investment Management LLC purchased a new stake in shares of Starbucks in the fourth quarter worth $30,000. Centricity Wealth Management LLC purchased a new stake in shares of Starbucks in the fourth quarter worth $36,000. Finally, Morton Brown Family Wealth LLC raised its position in shares of Starbucks by 43.9% in the fourth quarter. Morton Brown Family Wealth LLC now owns 505 shares of the coffee company’s stock worth $46,000 after buying an additional 154 shares in the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on SBUX shares. Barclays raised their price target on Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. BMO Capital Markets raised their price target on Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Stifel Nicolaus raised their price target on Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Royal Bank of Canada restated an “outperform” rating and set a $115.00 price target on shares of Starbucks in a research report on Friday, January 24th. Finally, Citigroup raised their price target on Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $105.33.

Starbucks Stock Performance

Starbucks stock opened at $113.19 on Tuesday. The stock’s 50 day simple moving average is $100.13 and its two-hundred day simple moving average is $97.72. The stock has a market cap of $128.57 billion, a price-to-earnings ratio of 36.51, a PEG ratio of 3.59 and a beta of 1.00. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $114.68.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data 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 quarter in the previous year, the business posted $0.90 EPS. On average, analysts predict that Starbucks Co. will post 2.99 earnings per share for the current year.

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.