Promus Capital LLC Invests $111,000 in Starbucks Co. (NASDAQ:SBUX)

Promus Capital LLC purchased a new position in shares of Starbucks Co. (NASDAQ:SBUX) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,214 shares of the coffee company’s stock, valued at approximately $111,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in SBUX. Robeco Institutional Asset Management B.V. increased its holdings in shares of Starbucks by 6.0% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 45,446 shares of the coffee company’s stock worth $4,431,000 after buying an additional 2,590 shares during the last quarter. Catalyst Capital Advisors LLC increased its holdings in shares of Starbucks by 61.7% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 1,779 shares of the coffee company’s stock worth $173,000 after buying an additional 679 shares during the last quarter. Greenwood Capital Associates LLC acquired a new stake in shares of Starbucks during the 3rd quarter worth approximately $200,000. ASB Consultores LLC acquired a new stake in shares of Starbucks during the 3rd quarter worth approximately $213,000. Finally, Heritage Investors Management Corp boosted its position in shares of Starbucks by 52.9% during the 3rd quarter. Heritage Investors Management Corp now owns 5,961 shares of the coffee company’s stock worth $581,000 after purchasing an additional 2,063 shares during the period. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Stock Performance

NASDAQ SBUX opened at $111.69 on Thursday. The firm has a market cap of $126.87 billion, a PE ratio of 36.03, a P/E/G ratio of 3.59 and a beta of 0.99. Starbucks Co. has a one year low of $71.55 and a one year high of $117.46. The firm’s fifty day moving average is $103.55 and its two-hundred day moving average is $98.89.

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

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Wedbush increased their price objective on shares of Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. UBS Group increased their price objective on shares of Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. BMO Capital Markets increased their price objective on shares of Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $115.00 price objective on shares of Starbucks in a research report on Friday, January 24th. Finally, Stifel Nicolaus increased their price objective on shares of Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $105.75.

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.