Millstone Evans Group LLC Buys Shares of 11,008 Starbucks Co. (NASDAQ:SBUX)

Millstone Evans Group LLC purchased a new position in shares of Starbucks Co. (NASDAQ:SBUX) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 11,008 shares of the coffee company’s stock, valued at approximately $1,004,000. Starbucks accounts for 0.7% of Millstone Evans Group LLC’s portfolio, making the stock its 27th biggest position.

A number of other institutional investors have also recently bought and sold shares of the stock. Wintrust Investments LLC raised its position in Starbucks by 7.1% during the 4th quarter. Wintrust Investments LLC now owns 1,411 shares of the coffee company’s stock worth $128,000 after purchasing an additional 94 shares during the last quarter. Kuhn & Co Investment Counsel grew its position in shares of Starbucks by 2.3% in the 4th quarter. Kuhn & Co Investment Counsel now owns 4,240 shares of the coffee company’s stock valued at $387,000 after buying an additional 96 shares during the last quarter. Wellington Shields & Co. LLC increased its stake in shares of Starbucks by 8.6% in the fourth quarter. Wellington Shields & Co. LLC now owns 1,265 shares of the coffee company’s stock valued at $115,000 after buying an additional 100 shares during the period. Mystic Asset Management Inc. raised its position in shares of Starbucks by 3.9% during the fourth quarter. Mystic Asset Management Inc. now owns 2,665 shares of the coffee company’s stock worth $243,000 after acquiring an additional 101 shares during the last quarter. Finally, Jmac Enterprises LLC lifted its stake in shares of Starbucks by 1.0% in the fourth quarter. Jmac Enterprises LLC now owns 9,995 shares of the coffee company’s stock worth $912,000 after acquiring an additional 103 shares during the period. Institutional investors own 72.29% of the company’s stock.

Starbucks Stock Down 2.2 %

Shares of Starbucks stock opened at $97.07 on Friday. The company has a market cap of $110.26 billion, a PE ratio of 31.31, a price-to-earnings-growth ratio of 3.59 and a beta of 0.99. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $117.46. The business has a 50 day moving average price of $105.41 and a 200-day moving average price of $99.32.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.01. Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. During the same quarter in the previous year, the firm posted $0.90 EPS. As a group, research analysts anticipate that Starbucks Co. will post 2.99 EPS for the current year.

Wall Street Analyst Weigh In

SBUX has been the subject of a number of recent analyst reports. Argus raised shares of 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. Stifel Nicolaus lifted their target price on shares of Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Barclays upped their price target on shares of Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Wedbush increased their price target on Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $115.00 price objective on shares of Starbucks in a research note on Friday, January 24th. Three analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $106.12.

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.