Parcion Private Wealth LLC Buys 278 Shares of Starbucks Co. (NASDAQ:SBUX)

Parcion Private Wealth LLC raised its holdings in Starbucks Co. (NASDAQ:SBUX) by 2.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 14,078 shares of the coffee company’s stock after purchasing an additional 278 shares during the quarter. Parcion Private Wealth LLC’s holdings in Starbucks were worth $1,285,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of SBUX. Wellington Management Group LLP boosted its stake in Starbucks by 100.6% in the third quarter. Wellington Management Group LLP now owns 15,149,937 shares of the coffee company’s stock worth $1,476,967,000 after purchasing an additional 7,598,146 shares in the last quarter. FMR LLC boosted its stake in Starbucks by 55.0% in the third quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock worth $1,928,339,000 after purchasing an additional 7,015,375 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in Starbucks by 1,491.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,808,571 shares of the coffee company’s stock worth $256,282,000 after purchasing an additional 2,632,087 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in Starbucks by 1,078.5% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,545,419 shares of the coffee company’s stock worth $248,153,000 after purchasing an additional 2,329,431 shares in the last quarter. Finally, Zurich Insurance Group Ltd FI acquired a new position in Starbucks in the third quarter worth $126,574,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Price Performance

Shares of Starbucks stock opened at $112.49 on Thursday. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $113.47. The business has a 50-day moving average of $99.13 and a two-hundred day moving average of $96.77. The company has a market capitalization of $127.78 billion, a P/E ratio of 36.29, a price-to-earnings-growth ratio of 3.56 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data 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 negative return on equity of 44.97% and a net margin of 9.73%. During the same quarter in the previous year, the company earned $0.90 earnings per share. On average, equities analysts anticipate that Starbucks Co. will post 3 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on SBUX. Royal Bank of Canada reaffirmed an “outperform” rating and set a $115.00 price target on shares of Starbucks in a research note on Friday, January 24th. Citigroup upped their price target on Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. BMO Capital Markets upped their price target on Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Wells Fargo & Company upped their price target on Starbucks from $110.00 to $115.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. Finally, UBS Group upped their price target on Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Three equities 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 issued a strong buy rating to the stock. According to data from MarketBeat.com, Starbucks currently has an average rating of “Moderate Buy” and a consensus price target of $105.33.

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.