LPL Financial LLC Increases Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

LPL Financial LLC lifted its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 7.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,096,630 shares of the coffee company’s stock after buying an additional 147,944 shares during the period. LPL Financial LLC’s holdings in Starbucks were worth $191,382,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Financial Life Planners purchased a new position in shares of Starbucks during the fourth quarter valued at approximately $25,000. Collier Financial purchased a new position in shares of Starbucks during the fourth quarter valued at approximately $27,000. Runnymede Capital Advisors Inc. purchased a new position in shares of Starbucks during the fourth quarter valued at approximately $27,000. Marshall Investment Management LLC purchased a new position in shares of Starbucks during the fourth quarter valued at approximately $30,000. Finally, Noble Wealth Management PBC purchased a new position in shares of Starbucks during the fourth quarter valued at approximately $30,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Argus raised Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price objective on the stock in a research report on Tuesday, March 18th. UBS Group boosted their price objective on Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Wedbush boosted their price objective on Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Barclays boosted their price objective on Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Finally, Stifel Nicolaus boosted their price objective on Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $106.12.

Starbucks Stock Down 2.2 %

Shares of NASDAQ SBUX opened at $97.07 on Monday. The firm has a market capitalization of $110.26 billion, a P/E ratio of 31.31, a P/E/G ratio of 3.59 and a beta of 0.99. The stock’s 50-day simple moving average is $105.41 and its two-hundred day simple moving average is $99.41. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $117.46.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share 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 company posted $0.90 EPS. As a group, research analysts anticipate 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.