Holderness Investments Co. Acquires 193 Shares of Starbucks Co. (NASDAQ:SBUX)

Holderness Investments Co. boosted its holdings in Starbucks Co. (NASDAQ:SBUX) by 5.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,792 shares of the coffee company’s stock after acquiring an additional 193 shares during the quarter. Holderness Investments Co.’s holdings in Starbucks were worth $346,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in SBUX. Whittier Trust Co. grew its stake in shares of Starbucks by 4.1% in the 4th quarter. Whittier Trust Co. now owns 74,531 shares of the coffee company’s stock valued at $6,801,000 after purchasing an additional 2,962 shares during the period. Blueshift Asset Management LLC acquired a new stake in Starbucks in the 4th quarter valued at $849,000. Berkeley Capital Partners LLC grew its position in Starbucks by 1.9% in the fourth quarter. Berkeley Capital Partners LLC now owns 21,998 shares of the coffee company’s stock valued at $2,007,000 after acquiring an additional 410 shares during the period. iA Global Asset Management Inc. raised its stake in Starbucks by 62.4% during the fourth quarter. iA Global Asset Management Inc. now owns 200,247 shares of the coffee company’s stock worth $18,273,000 after acquiring an additional 76,910 shares in the last quarter. Finally, Teacher Retirement System of Texas lifted its holdings in shares of Starbucks by 64.3% during the fourth quarter. Teacher Retirement System of Texas now owns 66,843 shares of the coffee company’s stock valued at $6,099,000 after acquiring an additional 26,164 shares during the period. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Trading Up 0.1 %

NASDAQ SBUX opened at $99.28 on Friday. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $117.46. The stock has a 50-day simple moving average of $105.31 and a 200 day simple moving average of $99.30. The company has a market capitalization of $112.77 billion, a PE ratio of 32.03, a P/E/G ratio of 3.59 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 EPS 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 in the previous year, the firm posted $0.90 earnings per share. As a group, sell-side analysts predict that Starbucks Co. will post 2.99 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Stifel Nicolaus lifted their price target on shares of Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a report on Monday, January 27th. UBS Group lifted their target price on shares of Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. BMO Capital Markets increased their price target on Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Argus upgraded Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price objective for the company in a research report on Tuesday. Finally, 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. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Starbucks currently has a consensus rating of “Moderate Buy” and a consensus price target of $106.12.

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.