Patten & Patten Inc. TN Has $453,000 Holdings in Starbucks Co. (NASDAQ:SBUX)

Patten & Patten Inc. TN increased its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 8.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,967 shares of the coffee company’s stock after buying an additional 404 shares during the quarter. Patten & Patten Inc. TN’s holdings in Starbucks were worth $453,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. State Street Corp raised its stake in Starbucks by 1.0% during the 3rd quarter. State Street Corp now owns 45,974,407 shares of the coffee company’s stock worth $4,482,045,000 after buying an additional 437,218 shares during the period. Geode Capital Management LLC increased its holdings in Starbucks by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 24,277,756 shares of the coffee company’s stock worth $2,358,464,000 after purchasing an additional 333,004 shares in the last quarter. FMR LLC increased its holdings in Starbucks by 55.0% during the 3rd quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock worth $1,928,339,000 after purchasing an additional 7,015,375 shares in the last quarter. Wellington Management Group LLP increased its holdings in Starbucks by 100.6% during the 3rd quarter. Wellington Management Group LLP now owns 15,149,937 shares of the coffee company’s stock worth $1,476,967,000 after purchasing an additional 7,598,146 shares in the last quarter. Finally, Fisher Asset Management LLC increased its holdings in Starbucks by 1.3% during the 4th quarter. Fisher Asset Management LLC now owns 11,916,777 shares of the coffee company’s stock worth $1,087,406,000 after purchasing an additional 154,093 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Stock Up 2.2 %

Shares of SBUX stock opened at $98.11 on Monday. The firm has a 50 day moving average price of $104.82 and a two-hundred day moving average price of $99.25. The company has a market capitalization of $111.44 billion, a PE ratio of 31.65, a price-to-earnings-growth ratio of 3.59 and a beta of 0.99. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $117.46.

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 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 quarter in the prior year, the firm earned $0.90 earnings per share. As a group, research analysts expect that Starbucks Co. will post 2.99 EPS for the current year.

Analysts Set New Price Targets

SBUX has been the subject of a number of research reports. Wells Fargo & Company increased their target price on Starbucks from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Tuesday, February 25th. Royal Bank of Canada reiterated an “outperform” rating and set a $115.00 target price on shares of Starbucks in a report on Friday, January 24th. BMO Capital Markets increased their target price on Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Wedbush increased their target price on Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Finally, Barclays raised their price objective on Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Three analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus 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.