Cornerstone Advisors LLC Has $4.44 Million Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Cornerstone Advisors LLC lifted its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 1.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 48,700 shares of the coffee company’s stock after buying an additional 800 shares during the period. Cornerstone Advisors LLC’s holdings in Starbucks were worth $4,444,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of SBUX. Strategic Financial Concepts LLC bought a new stake in shares of Starbucks in the 4th quarter valued at about $62,000. Weil Company Inc. increased its holdings in shares of Starbucks by 31.2% during the third quarter. Weil Company Inc. now owns 34,580 shares of the coffee company’s stock worth $3,371,000 after purchasing an additional 8,222 shares during the period. Arizona State Retirement System increased its holdings in shares of Starbucks by 0.8% during the fourth quarter. Arizona State Retirement System now owns 327,459 shares of the coffee company’s stock worth $29,881,000 after purchasing an additional 2,722 shares during the period. West Michigan Advisors LLC acquired a new stake in shares of Starbucks during the 4th quarter worth approximately $265,000. Finally, Wernau Asset Management Inc. acquired a new stake in shares of Starbucks during the 4th quarter worth approximately $258,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SBUX has been the topic of several analyst reports. Stifel Nicolaus increased their price target 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. Redburn Atlantic reiterated a “sell” rating and set a $77.00 price target (down previously from $84.00) on shares of Starbucks in a report on Wednesday, November 13th. BMO Capital Markets lifted their target price on shares of Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. UBS Group lifted their target price on shares of Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Finally, TD Cowen reaffirmed a “buy” rating and issued a $110.00 price target on shares of Starbucks in a research note on Monday, November 11th. Three research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $105.75.

Starbucks Stock Performance

Starbucks stock opened at $101.13 on Tuesday. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $117.46. The stock has a market cap of $114.87 billion, a PE ratio of 32.62, a price-to-earnings-growth ratio of 3.59 and a beta of 0.99. The firm’s 50-day simple moving average is $104.31 and its 200 day simple moving average is $99.19.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share 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 quarter in the previous year, the firm earned $0.90 EPS. As a group, analysts predict that Starbucks Co. will post 2.99 EPS for the current fiscal 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.