Royal London Asset Management Ltd. Boosts Stake in Starbucks Co. (NASDAQ:SBUX)

Royal London Asset Management Ltd. grew its stake in Starbucks Co. (NASDAQ:SBUX) by 1.1% during the fourth quarter, HoldingsChannel reports. The fund owned 473,779 shares of the coffee company’s stock after acquiring an additional 5,274 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Starbucks were worth $43,232,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the stock. Strategic Financial Concepts LLC bought a new position in Starbucks in the fourth quarter worth about $62,000. Arizona State Retirement System grew its position in shares of Starbucks by 0.8% in the 4th quarter. Arizona State Retirement System now owns 327,459 shares of the coffee company’s stock worth $29,881,000 after buying an additional 2,722 shares during the last quarter. West Michigan Advisors LLC bought a new position in shares of Starbucks during the 4th quarter worth approximately $265,000. Wernau Asset Management Inc. purchased a new stake in Starbucks during the fourth quarter valued at approximately $258,000. Finally, Investment Management Corp of Ontario boosted its stake in Starbucks by 48.6% in the third quarter. Investment Management Corp of Ontario now owns 37,584 shares of the coffee company’s stock valued at $3,664,000 after acquiring an additional 12,300 shares in the last quarter. 72.29% of the stock is owned by institutional investors.

Starbucks Stock Performance

Starbucks stock opened at $99.28 on Friday. The company’s fifty day moving average price is $105.31 and its 200 day moving average price is $99.30. The stock has a market capitalization of $112.77 billion, a P/E ratio of 32.03, a P/E/G ratio of 3.59 and a beta of 0.99. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $117.46.

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

Analysts Set New Price Targets

SBUX has been the subject of several analyst reports. UBS Group increased their price objective on Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Wedbush raised 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. Wells Fargo & Company boosted their price target on Starbucks from $115.00 to $125.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 25th. Barclays lifted their target price on shares of Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Finally, Argus upgraded shares of Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price target on the stock in a research note on Tuesday. Three analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus 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.