Modern Wealth Management LLC Buys 2,335 Shares of Starbucks Co. (NASDAQ:SBUX)

Modern Wealth Management LLC increased its stake in Starbucks Co. (NASDAQ:SBUX) by 39.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,209 shares of the coffee company’s stock after purchasing an additional 2,335 shares during the period. Modern Wealth Management LLC’s holdings in Starbucks were worth $749,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Quest Partners LLC bought a new position in Starbucks in the third quarter valued at approximately $115,000. The Manufacturers Life Insurance Company increased its stake in shares of Starbucks by 19.6% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,181,179 shares of the coffee company’s stock valued at $212,643,000 after purchasing an additional 357,046 shares during the last quarter. FMR LLC raised its holdings 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 worth $1,928,339,000 after buying an additional 7,015,375 shares in the last quarter. Avestar Capital LLC lifted its position in shares of Starbucks by 20.3% during the 3rd quarter. Avestar Capital LLC now owns 7,646 shares of the coffee company’s stock worth $745,000 after buying an additional 1,292 shares during the last quarter. Finally, Transamerica Financial Advisors Inc. boosted its stake in Starbucks by 25.6% in the third quarter. Transamerica Financial Advisors Inc. now owns 7,667 shares of the coffee company’s stock valued at $748,000 after buying an additional 1,562 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Wedbush increased their target price on shares of Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Royal Bank of Canada restated an “outperform” rating and issued a $115.00 target price on shares of Starbucks in a research report on Friday, January 24th. BMO Capital Markets upped their price target on shares of Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Argus raised Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price objective on the stock in a report on Tuesday, March 18th. Finally, Barclays upped their target price on Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $106.12.

Starbucks Price Performance

Shares of Starbucks stock opened at $97.97 on Thursday. The stock’s 50-day moving average is $105.61 and its 200 day moving average is $99.47. Starbucks Co. has a one year low of $71.55 and a one year high of $117.46. The firm has a market cap of $111.28 billion, a price-to-earnings ratio of 31.60, a PEG ratio of 3.59 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 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 business posted $0.90 earnings per share. On average, sell-side analysts expect that Starbucks Co. will post 2.99 EPS for the current fiscal year.

Starbucks 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.