Starbucks Co. (NASDAQ:SBUX) Shares Purchased by HM Payson & Co.

HM Payson & Co. lifted its holdings in Starbucks Co. (NASDAQ:SBUX) by 22.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,243 shares of the coffee company’s stock after acquiring an additional 1,312 shares during the quarter. HM Payson & Co.’s holdings in Starbucks were worth $661,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in SBUX. Robeco Institutional Asset Management B.V. increased its stake in shares of Starbucks by 6.0% in the third quarter. Robeco Institutional Asset Management B.V. now owns 45,446 shares of the coffee company’s stock worth $4,431,000 after acquiring an additional 2,590 shares during the period. Cozad Asset Management Inc. acquired a new stake in shares of Starbucks in the third quarter worth $241,000. Kornitzer Capital Management Inc. KS increased its stake in shares of Starbucks by 4.0% in the third quarter. Kornitzer Capital Management Inc. KS now owns 26,116 shares of the coffee company’s stock worth $2,546,000 after acquiring an additional 994 shares during the period. Capital Performance Advisors LLP acquired a new stake in shares of Starbucks in the third quarter worth $71,000. Finally, Fiera Capital Corp increased its stake in shares of Starbucks by 13.8% in the third quarter. Fiera Capital Corp now owns 50,753 shares of the coffee company’s stock worth $4,948,000 after acquiring an additional 6,163 shares during the period. Institutional investors and hedge funds own 72.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on SBUX. Wedbush raised their price target on shares of Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Wells Fargo & Company raised their price target on shares of Starbucks from $115.00 to $125.00 and gave the company an “overweight” rating in a research report on Tuesday, February 25th. BMO Capital Markets raised their price target on shares of Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Royal Bank of Canada restated an “outperform” rating and set a $115.00 price target on shares of Starbucks in a research report on Friday, January 24th. Finally, TD Cowen restated a “buy” rating and set a $110.00 price target on shares of Starbucks in a research report on Monday, November 11th. Three analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $105.75.

Starbucks Trading Up 1.0 %

SBUX opened at $106.48 on Friday. The firm has a market capitalization of $120.95 billion, a PE ratio of 34.35, a PEG ratio of 3.59 and a beta of 0.99. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $117.46. The firm’s 50-day moving average price is $104.10 and its 200 day moving average price is $99.08.

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

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.