Choate Investment Advisors Purchases 181 Shares of Starbucks Co. (NASDAQ:SBUX)

Choate Investment Advisors boosted its position in Starbucks Co. (NASDAQ:SBUX) by 5.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,589 shares of the coffee company’s stock after acquiring an additional 181 shares during the period. Choate Investment Advisors’ holdings in Starbucks were worth $327,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in SBUX. Financial Life Planners bought a new position in Starbucks in the fourth quarter valued at about $25,000. Collier Financial bought a new position in Starbucks in the fourth quarter valued at about $27,000. Marshall Investment Management LLC bought a new position in Starbucks during the fourth quarter worth about $30,000. Noble Wealth Management PBC bought a new position in Starbucks during the fourth quarter worth about $30,000. Finally, Centricity Wealth Management LLC bought a new position in Starbucks during the fourth quarter worth about $36,000. Institutional investors own 72.29% of the company’s stock.

Starbucks Stock Up 1.0 %

NASDAQ:SBUX opened at $99.08 on Tuesday. The firm has a market capitalization of $112.54 billion, a price-to-earnings ratio of 31.96, a price-to-earnings-growth ratio of 3.59 and a beta of 0.99. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $117.46. The stock’s 50 day moving average price is $104.94 and its two-hundred day moving average price is $99.28.

Starbucks (NASDAQ:SBUX) last posted 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 negative return on equity of 44.97% and a net margin of 9.73%. During the same quarter last year, the business posted $0.90 EPS. As a group, analysts anticipate that Starbucks Co. will post 2.99 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on SBUX shares. Wells Fargo & Company raised their target price on Starbucks from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Tuesday, February 25th. Stifel Nicolaus raised their target price on Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Barclays raised their target price on Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. BMO Capital Markets raised their target price on Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $115.00 price target on shares of Starbucks in a research report on Friday, January 24th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.