Biondo Investment Advisors LLC Increases Holdings in Starbucks Co. (NASDAQ:SBUX)

Biondo Investment Advisors LLC boosted its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 1.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 60,740 shares of the coffee company’s stock after acquiring an additional 870 shares during the quarter. Biondo Investment Advisors LLC’s holdings in Starbucks were worth $5,543,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SBUX. Quest Partners LLC bought a new position in Starbucks during the third quarter valued at $115,000. CreativeOne Wealth LLC raised its holdings in shares of Starbucks by 26.8% in the third quarter. CreativeOne Wealth LLC now owns 9,960 shares of the coffee company’s stock worth $971,000 after buying an additional 2,106 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Starbucks by 7.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 498,894 shares of the coffee company’s stock worth $48,637,000 after acquiring an additional 34,963 shares during the last quarter. Vinva Investment Management Ltd lifted its position in shares of Starbucks by 323.5% during the third quarter. Vinva Investment Management Ltd now owns 34,195 shares of the coffee company’s stock worth $3,329,000 after purchasing an additional 26,120 shares during the last quarter. Finally, Hantz Financial Services Inc. boosted its position in Starbucks by 35.5% in the 3rd quarter. Hantz Financial Services Inc. now owns 76,136 shares of the coffee company’s stock valued at $7,422,000 after buying an additional 19,965 shares during the period. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Starbucks Stock Down 1.1 %

SBUX opened at $97.73 on Friday. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $117.46. The company has a market cap of $111.01 billion, a PE ratio of 31.53, a price-to-earnings-growth ratio of 3.59 and a beta of 0.99. The company has a 50-day moving average price of $105.75 and a 200 day moving average price of $99.50.

Starbucks (NASDAQ:SBUX) last released its earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, beating the consensus estimate 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 firm earned $0.90 EPS. As a group, sell-side analysts expect that Starbucks Co. will post 2.99 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on SBUX shares. UBS Group upped their target price on Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Argus upgraded shares of Starbucks from a “hold” rating to a “buy” rating and set a $115.00 target price for the company in a research note on Tuesday, March 18th. Stifel Nicolaus boosted their price target on Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Wedbush boosted their price objective 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, Barclays increased their price target on shares of Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Three 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 company’s stock. According to MarketBeat.com, Starbucks currently has a consensus rating of “Moderate Buy” and a consensus 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.