Mizuho Securities USA LLC Acquires 33,948 Shares of Starbucks Co. (NASDAQ:SBUX)

Mizuho Securities USA LLC lifted its position in shares of Starbucks Co. (NASDAQ:SBUX) by 46.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 107,430 shares of the coffee company’s stock after acquiring an additional 33,948 shares during the quarter. Mizuho Securities USA LLC’s holdings in Starbucks were worth $9,803,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. Strategic Financial Concepts LLC acquired a new position in Starbucks in the fourth quarter valued at about $62,000. Arizona State Retirement System raised its stake in 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 buying an additional 2,722 shares during the period. West Michigan Advisors LLC bought a new stake in Starbucks in the fourth quarter valued at approximately $265,000. Wernau Asset Management Inc. bought a new position in shares of Starbucks during the fourth quarter worth approximately $258,000. Finally, Investment Management Corp of Ontario increased its stake in shares of Starbucks by 48.6% during the third quarter. Investment Management Corp of Ontario now owns 37,584 shares of the coffee company’s stock worth $3,664,000 after purchasing an additional 12,300 shares during the period. 72.29% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SBUX. Royal Bank of Canada reissued an “outperform” rating and set a $115.00 price target on shares of Starbucks in a research report on Friday, January 24th. Wedbush raised their target price on Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. UBS Group increased their price target on Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Argus raised Starbucks from a “hold” rating to a “buy” rating and set a $115.00 target price for the company in a research report on Tuesday. 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 report on Tuesday, February 25th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $106.12.

Starbucks Price Performance

SBUX opened at $97.07 on Friday. The company has a fifty day moving average price of $105.41 and a 200-day moving average price of $99.32. The firm has a market capitalization of $110.26 billion, a P/E ratio of 31.31, a price-to-earnings-growth ratio of 3.59 and a beta of 0.99. Starbucks Co. has a one year low of $71.55 and a one year high of $117.46.

Starbucks (NASDAQ:SBUX) last released 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 net margin of 9.73% and a negative return on equity of 44.97%. During the same quarter last year, the company posted $0.90 earnings per share. On average, analysts expect that Starbucks Co. will post 2.99 earnings per share for the current year.

Starbucks 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.