HighTower Advisors LLC Grows Stock Position in Starbucks Co. (NASDAQ:SBUX)

HighTower Advisors LLC grew its position in Starbucks Co. (NASDAQ:SBUX) by 15.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,789,507 shares of the coffee company’s stock after acquiring an additional 245,922 shares during the quarter. HighTower Advisors LLC’s holdings in Starbucks were worth $163,293,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in SBUX. Strategic Financial Concepts LLC acquired a new stake in shares of Starbucks in the fourth quarter valued at approximately $62,000. Arizona State Retirement System increased its holdings in shares of Starbucks by 0.8% in the fourth quarter. Arizona State Retirement System now owns 327,459 shares of the coffee company’s stock valued at $29,881,000 after purchasing an additional 2,722 shares during the last quarter. West Michigan Advisors LLC acquired a new stake in shares of Starbucks in the fourth quarter valued at approximately $265,000. Wernau Asset Management Inc. acquired a new stake in shares of Starbucks in the fourth quarter valued at approximately $258,000. Finally, Investment Management Corp of Ontario increased its holdings in shares of Starbucks by 48.6% in the third quarter. Investment Management Corp of Ontario now owns 37,584 shares of the coffee company’s stock valued at $3,664,000 after purchasing an additional 12,300 shares during the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Price Performance

Shares of NASDAQ SBUX opened at $99.58 on Wednesday. The company has a market capitalization of $113.11 billion, a price-to-earnings ratio of 32.12, a price-to-earnings-growth ratio of 3.59 and a beta of 0.99. The business has a 50-day moving average of $104.48 and a two-hundred day moving average of $99.23. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $117.46.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results 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. As a group, equities research analysts expect that Starbucks Co. will post 2.99 earnings per share for the current year.

Analyst Ratings Changes

SBUX has been the subject of several recent analyst reports. BMO Capital Markets raised their target price on Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Redburn Atlantic reissued a “sell” rating and set a $77.00 target price (down previously from $84.00) on shares of Starbucks in a research note on Wednesday, November 13th. Wedbush raised their target price on Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. UBS Group raised their target price on Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Finally, 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 note on Tuesday, February 25th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price 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.