Abound Financial LLC Invests $427,000 in Starbucks Co. (NASDAQ:SBUX)

Abound Financial LLC bought a new position in shares of Starbucks Co. (NASDAQ:SBUX) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 4,681 shares of the coffee company’s stock, valued at approximately $427,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. State Street Corp boosted its stake in 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 acquiring an additional 437,218 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Starbucks by 1.4% in the third quarter. Geode Capital Management LLC now owns 24,277,756 shares of the coffee company’s stock valued at $2,358,464,000 after buying an additional 333,004 shares in the last quarter. FMR LLC lifted its stake in shares of Starbucks by 55.0% in the third quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock valued at $1,928,339,000 after buying an additional 7,015,375 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of Starbucks by 100.6% in the third quarter. Wellington Management Group LLP now owns 15,149,937 shares of the coffee company’s stock valued at $1,476,967,000 after buying an additional 7,598,146 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its stake in shares of Starbucks by 2.9% in the third quarter. Fisher Asset Management LLC now owns 11,762,684 shares of the coffee company’s stock valued at $1,146,744,000 after buying an additional 327,734 shares in the last quarter. 72.29% of the stock is owned by institutional investors.

Analyst Ratings Changes

SBUX has been the topic of a number of recent research reports. Barclays raised their price objective on shares of Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. BMO Capital Markets raised their price objective on shares of Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Redburn Atlantic reaffirmed a “sell” rating and issued a $77.00 price objective (down from $84.00) on shares of Starbucks in a research note on Wednesday, November 13th. UBS Group raised their price objective on shares of Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Finally, Citigroup raised their price target on shares of Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Three research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $105.33.

Starbucks Stock Down 1.4 %

SBUX opened at $111.75 on Friday. The company has a market capitalization of $126.94 billion, a price-to-earnings ratio of 36.05, a PEG ratio of 3.59 and a beta of 1.00. The firm has a 50-day moving average price of $99.72 and a 200-day moving average price of $97.30. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $114.68.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share 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 period in the prior year, the business earned $0.90 earnings per share. On average, sell-side analysts expect 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.