Bestgate Wealth Advisors LLC Acquires New Shares in Starbucks Co. (NASDAQ:SBUX)

Bestgate Wealth Advisors LLC acquired a new stake in Starbucks Co. (NASDAQ:SBUX) in the fourth quarter, according to its most recent filing with the SEC. The fund acquired 3,357 shares of the coffee company’s stock, valued at approximately $306,000.

Other hedge funds have also bought and sold shares of the company. Financial Life Planners purchased a new position in Starbucks in the 4th quarter valued at approximately $25,000. Collier Financial bought a new position in Starbucks in the 4th quarter valued at $27,000. Marshall Investment Management LLC bought a new position in Starbucks in the 4th quarter valued at $30,000. Noble Wealth Management PBC bought a new position in Starbucks in the 4th quarter valued at $30,000. Finally, Centricity Wealth Management LLC bought a new position in Starbucks in the 4th quarter valued at $36,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Starbucks Trading Down 0.8 %

SBUX stock opened at $98.28 on Wednesday. The firm’s 50-day moving average price is $105.05 and its two-hundred day moving average price is $99.30. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $117.46. The stock has a market capitalization of $111.64 billion, a price-to-earnings ratio of 31.70, a PEG ratio of 3.59 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (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 period in the previous year, the business earned $0.90 EPS. Equities analysts predict that Starbucks Co. will post 2.99 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have commented on SBUX shares. 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 report on Wednesday, January 29th. Wedbush raised their price target on shares of Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a 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 report on Tuesday, February 25th. Stifel Nicolaus raised 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. Finally, UBS Group raised their price target on shares of Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $106.12.

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.