OV Management LLC Acquires 1,838 Shares of Starbucks Co. (NASDAQ:SBUX)

OV Management LLC raised its holdings in Starbucks Co. (NASDAQ:SBUX) by 9.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 22,362 shares of the coffee company’s stock after purchasing an additional 1,838 shares during the quarter. Starbucks makes up about 0.9% of OV Management LLC’s investment portfolio, making the stock its 28th largest position. OV Management LLC’s holdings in Starbucks were worth $2,041,000 at the end of the most recent quarter.

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

Starbucks Price Performance

NASDAQ:SBUX opened at $98.09 on Tuesday. The firm’s fifty day moving average price is $105.81 and its two-hundred day moving average price is $99.54. The company has a market cap of $111.42 billion, a P/E ratio of 31.64, a P/E/G ratio of 3.59 and a beta of 0.99. Starbucks Co. has a one year low of $71.55 and a one year high of $117.46.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) 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 prior year, the firm earned $0.90 earnings per share. As a group, equities research analysts expect that Starbucks Co. will post 2.99 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have weighed in on SBUX. Barclays increased their target price on Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Wells Fargo & Company boosted their price objective on shares of Starbucks from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Tuesday, February 25th. Argus upgraded shares of 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. Wedbush boosted their price target on shares of Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Finally, BMO Capital Markets raised their price objective on Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average 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.