Meiji Yasuda Asset Management Co Ltd. Purchases 756 Shares of Starbucks Co. (NASDAQ:SBUX)

Meiji Yasuda Asset Management Co Ltd. grew its position in shares of Starbucks Co. (NASDAQ:SBUX) by 1.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 40,275 shares of the coffee company’s stock after buying an additional 756 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Starbucks were worth $3,675,000 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. Financial Life Planners purchased a new position in Starbucks in the 4th quarter valued at approximately $25,000. Collier Financial bought a new position in shares of Starbucks in the fourth quarter worth $27,000. Runnymede Capital Advisors Inc. purchased a new position in shares of Starbucks in the fourth quarter valued at $27,000. Marshall Investment Management LLC bought a new stake in shares of Starbucks during the 4th quarter valued at $30,000. Finally, Noble Wealth Management PBC purchased a new stake in Starbucks during the 4th quarter worth about $30,000. Institutional investors own 72.29% of the company’s stock.

Wall Street Analysts Forecast Growth

SBUX has been the subject of a number of recent analyst reports. Wells Fargo & Company lifted their target price on Starbucks from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Tuesday, February 25th. UBS Group upped their target price on shares of Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Wedbush increased their target price on shares of Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Argus upgraded shares of Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price target for the company in a research report on Tuesday, March 18th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $115.00 price objective on shares of Starbucks in a research report on Friday, January 24th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $106.12.

Starbucks Trading Up 0.2 %

NASDAQ SBUX opened at $95.88 on Wednesday. The firm has a market cap of $108.91 billion, a PE ratio of 30.93, a price-to-earnings-growth 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. The stock has a 50-day moving average of $105.51 and a 200-day moving average of $99.48.

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