Redmond Asset Management LLC Acquires Shares of 3,373 Starbucks Co. (NASDAQ:SBUX)

Redmond Asset Management LLC acquired a new stake in Starbucks Co. (NASDAQ:SBUX) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 3,373 shares of the coffee company’s stock, valued at approximately $308,000.

Other institutional investors have also recently bought and sold shares of the company. Financial Life Planners bought a new position in Starbucks in the 4th quarter valued at $25,000. Collier Financial bought a new stake in shares of Starbucks during the fourth quarter worth $27,000. Centricity Wealth Management LLC bought a new stake in shares of Starbucks during the fourth quarter worth $36,000. DT Investment Partners LLC raised its position in shares of Starbucks by 39.4% during the third quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock worth $42,000 after acquiring an additional 121 shares during the last quarter. Finally, FSA Wealth Management LLC bought a new stake in shares of Starbucks during the third quarter worth $49,000. Institutional investors own 72.29% of the company’s stock.

Starbucks Price Performance

SBUX stock opened at $111.75 on Friday. The stock has a market capitalization of $126.94 billion, a P/E ratio of 36.05, a P/E/G ratio of 3.59 and a beta of 1.00. The business has a 50-day moving average of $99.72 and a 200-day moving average of $97.30. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $114.68.

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. Equities analysts expect that Starbucks Co. will post 2.99 EPS for the current year.

Analyst Ratings Changes

SBUX has been the subject of a number of recent research reports. Wedbush boosted their target price on Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Royal Bank of Canada restated an “outperform” rating and set a $115.00 target price on shares of Starbucks in a research report on Friday, January 24th. TD Cowen restated a “buy” rating and set a $110.00 target price on shares of Starbucks in a research report on Monday, November 11th. Redburn Atlantic restated a “sell” rating and set a $77.00 target price (down previously from $84.00) on shares of Starbucks in a research report on Wednesday, November 13th. Finally, Stifel Nicolaus lifted their price objective on Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Three analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Starbucks has an average rating of “Moderate Buy” and a consensus target price of $105.33.

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.