Next Capital Management LLC Acquires New Shares in Starbucks Co. (NASDAQ:SBUX)

Next Capital Management LLC bought a new stake in Starbucks Co. (NASDAQ:SBUX) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,268 shares of the coffee company’s stock, valued at approximately $207,000.

Several other hedge funds also recently bought and sold shares of SBUX. Financial Life Planners acquired a new position in Starbucks in the fourth quarter worth approximately $25,000. Collier Financial bought a new stake in Starbucks in the fourth quarter worth approximately $27,000. Marshall Investment Management LLC acquired a new position in shares of Starbucks during the 4th quarter worth $30,000. Noble Wealth Management PBC acquired a new position in shares of Starbucks during the 4th quarter worth $30,000. Finally, Centricity Wealth Management LLC bought a new position in shares of Starbucks during the 4th quarter valued at $36,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on SBUX shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $115.00 price objective on shares of Starbucks in a report on Friday, January 24th. Stifel Nicolaus increased their price objective on Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a report on Monday, January 27th. UBS Group raised their price objective on Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Wedbush upped their target price on Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Finally, BMO Capital Markets lifted 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. Three analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $106.12.

Starbucks Price Performance

Shares of Starbucks stock opened at $98.28 on Wednesday. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $117.46. The firm has a market capitalization of $111.64 billion, a PE ratio of 31.70, a price-to-earnings-growth ratio of 3.59 and a beta of 0.99. The company’s fifty day moving average price is $105.05 and its two-hundred day moving average price is $99.30.

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