Venturi Wealth Management LLC Raises Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Venturi Wealth Management LLC lifted its holdings in Starbucks Co. (NASDAQ:SBUX) by 84.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,953 shares of the coffee company’s stock after buying an additional 2,273 shares during the quarter. Venturi Wealth Management LLC’s holdings in Starbucks were worth $452,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of SBUX. Wellington Management Group LLP raised its holdings in shares of Starbucks by 100.6% in the third quarter. Wellington Management Group LLP now owns 15,149,937 shares of the coffee company’s stock worth $1,476,967,000 after buying an additional 7,598,146 shares during the period. FMR LLC raised its holdings in shares of Starbucks by 55.0% in the third quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock worth $1,928,339,000 after buying an additional 7,015,375 shares during the period. Assenagon Asset Management S.A. raised its holdings in shares of Starbucks by 1,491.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,808,571 shares of the coffee company’s stock worth $256,282,000 after buying an additional 2,632,087 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Starbucks by 1,078.5% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,545,419 shares of the coffee company’s stock worth $248,153,000 after buying an additional 2,329,431 shares during the period. Finally, Zurich Insurance Group Ltd FI purchased a new stake in shares of Starbucks in the third quarter worth approximately $126,574,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Starbucks Price Performance

Shares of SBUX stock opened at $112.49 on Thursday. The firm has a market capitalization of $127.78 billion, a price-to-earnings ratio of 36.29, a price-to-earnings-growth ratio of 3.55 and a beta of 1.00. The business has a fifty day moving average of $99.13 and a 200 day moving average of $96.77. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $113.47.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 period last year, the business posted $0.90 earnings per share. As a group, equities research analysts expect that Starbucks Co. will post 3 earnings per share for the current year.

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.