Legacy Capital Group California Inc. Has $477,000 Stock Position in Starbucks Co. (NASDAQ:SBUX)

Legacy Capital Group California Inc. boosted its position in shares of Starbucks Co. (NASDAQ:SBUX) by 7.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,222 shares of the coffee company’s stock after purchasing an additional 350 shares during the quarter. Legacy Capital Group California Inc.’s holdings in Starbucks were worth $477,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. State Street Corp raised its stake in shares of Starbucks by 1.0% during the third quarter. State Street Corp now owns 45,974,407 shares of the coffee company’s stock worth $4,482,045,000 after buying an additional 437,218 shares during the last quarter. Geode Capital Management LLC grew its holdings in Starbucks by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 24,277,756 shares of the coffee company’s stock worth $2,358,464,000 after acquiring an additional 333,004 shares during the period. FMR LLC raised its position in shares of Starbucks by 55.0% during the 3rd quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock valued at $1,928,339,000 after acquiring an additional 7,015,375 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Starbucks by 100.6% in the 3rd quarter. Wellington Management Group LLP now owns 15,149,937 shares of the coffee company’s stock valued at $1,476,967,000 after purchasing an additional 7,598,146 shares during the period. Finally, Fisher Asset Management LLC boosted its position in shares of Starbucks by 2.9% in the 3rd quarter. Fisher Asset Management LLC now owns 11,762,684 shares of the coffee company’s stock worth $1,146,744,000 after purchasing an additional 327,734 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on SBUX shares. Citigroup increased their target price on Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Barclays lifted their price objective 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. Wedbush upped their target price on shares of Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Royal Bank of Canada reissued an “outperform” rating and set a $115.00 price target on shares of Starbucks in a research report on Friday, January 24th. Finally, TD Cowen restated a “buy” rating and issued a $110.00 price objective on shares of Starbucks in a research report on Monday, November 11th. Three research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Starbucks has a consensus rating of “Moderate Buy” and an average target price of $105.33.

Starbucks Price Performance

Starbucks stock opened at $113.34 on Friday. The firm has a 50-day moving average of $99.44 and a 200-day moving average of $96.89. The company has a market cap of $128.74 billion, a price-to-earnings ratio of 36.56, a P/E/G ratio of 3.56 and a beta of 1.00. Starbucks Co. has a one year low of $71.55 and a one year high of $113.50.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results 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 period in the prior year, the business earned $0.90 earnings per share. As a group, sell-side analysts expect that Starbucks Co. will post 2.99 earnings per share for the current 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.