Nemes Rush Group LLC Has $2.10 Million Stock Position in Starbucks Co. (NASDAQ:SBUX)

Nemes Rush Group LLC raised its stake in Starbucks Co. (NASDAQ:SBUX) by 9.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 22,998 shares of the coffee company’s stock after buying an additional 1,935 shares during the quarter. Nemes Rush Group LLC’s holdings in Starbucks were worth $2,099,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in SBUX. FSA Wealth Management LLC bought a new position in shares of Starbucks during the third quarter worth about $49,000. Avala Global LP acquired a new position in Starbucks during the 3rd quarter worth approximately $24,519,000. Benjamin Edwards Inc. grew its stake in shares of Starbucks by 3,973.6% during the 3rd quarter. Benjamin Edwards Inc. now owns 118,258 shares of the coffee company’s stock worth $11,529,000 after acquiring an additional 115,355 shares in the last quarter. Ascent Group LLC raised its holdings in shares of Starbucks by 7.3% in the third quarter. Ascent Group LLC now owns 12,527 shares of the coffee company’s stock valued at $1,221,000 after purchasing an additional 847 shares during the last quarter. Finally, Concentric Capital Strategies LP bought a new stake in shares of Starbucks in the third quarter worth $3,876,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Price Performance

SBUX stock opened at $98.09 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 capitalization of $111.42 billion, a price-to-earnings ratio of 31.64, a PEG ratio of 3.59 and a beta of 0.99. The business’s fifty day moving average price is $105.81 and its two-hundred day moving average price is $99.54.

Starbucks (NASDAQ:SBUX) last released its quarterly 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 last year, the business earned $0.90 EPS. Research analysts expect that Starbucks Co. will post 2.99 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on SBUX. Wedbush raised their target price on shares of Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. UBS Group raised 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. Argus upgraded Starbucks from a “hold” rating to a “buy” rating and set a $115.00 target price on the stock in a report on Tuesday, March 18th. Stifel Nicolaus raised their price target on Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Finally, BMO Capital Markets boosted their price target on Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Starbucks has a consensus rating of “Moderate Buy” and an average target price of $106.12.

Starbucks Company Profile

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.