Sunpointe LLC Acquires Shares of 2,395 Starbucks Co. (NASDAQ:SBUX)

Sunpointe LLC acquired a new stake in Starbucks Co. (NASDAQ:SBUX) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,395 shares of the coffee company’s stock, valued at approximately $219,000.

A number of other institutional investors also recently bought and sold shares of the business. Financial Life Planners acquired a new position in shares of Starbucks during the fourth quarter worth about $25,000. Collier Financial acquired a new position in shares of Starbucks during the fourth quarter worth about $27,000. DT Investment Partners LLC increased its stake in shares of Starbucks by 39.4% during the third quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock worth $42,000 after acquiring an additional 121 shares during the period. Morton Brown Family Wealth LLC increased its stake in shares of Starbucks by 43.9% during the fourth quarter. Morton Brown Family Wealth LLC now owns 505 shares of the coffee company’s stock worth $46,000 after acquiring an additional 154 shares during the period. Finally, FSA Wealth Management LLC acquired a new position in shares of Starbucks during the third quarter worth about $49,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Price Performance

Shares of NASDAQ SBUX opened at $113.34 on Friday. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $113.50. The company has a market capitalization of $128.74 billion, a PE ratio of 36.56, a price-to-earnings-growth ratio of 3.56 and a beta of 1.00. The firm’s 50-day moving average is $99.44 and its two-hundred day moving average is $96.89.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, beating 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 business earned $0.90 EPS. On average, analysts forecast that Starbucks Co. will post 3 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on SBUX shares. Wedbush boosted their price target on shares of Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. BMO Capital Markets boosted their price target on shares of Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Wells Fargo & Company boosted their price target on shares of Starbucks from $110.00 to $115.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. Citigroup boosted their price objective on shares of Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Finally, Barclays boosted their price objective on shares of Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $105.33.

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.