2,905 Shares in Starbucks Co. (NASDAQ:SBUX) Acquired by West Michigan Advisors LLC

West Michigan Advisors LLC bought a new stake in Starbucks Co. (NASDAQ:SBUX) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,905 shares of the coffee company’s stock, valued at approximately $265,000.

Several other large investors also recently added to or reduced their stakes in the business. Wellington Management Group LLP raised its holdings in Starbucks by 100.6% during 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. FMR LLC increased 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 valued at $1,928,339,000 after acquiring an additional 7,015,375 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Starbucks by 1,491.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 2,808,571 shares of the coffee company’s stock valued at $256,282,000 after acquiring an additional 2,632,087 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in Starbucks by 1,078.5% in the 3rd 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 during the last quarter. Finally, Zurich Insurance Group Ltd FI bought a new stake in Starbucks during the third quarter worth approximately $126,574,000. 72.29% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on SBUX. UBS Group lifted their price target on shares of Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Wells Fargo & Company lifted their target price on shares of Starbucks from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Tuesday, February 25th. Barclays upped their price target on shares of Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. 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. Finally, TD Cowen restated a “buy” rating and set a $110.00 target price on shares of Starbucks in a research note on Monday, November 11th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $105.75.

Starbucks Stock Up 1.2 %

NASDAQ:SBUX opened at $115.81 on Friday. The firm has a 50-day moving average price of $102.11 and a 200 day moving average price of $98.51. The firm has a market capitalization of $131.55 billion, a PE ratio of 37.36, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $116.09.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 previous year, the firm posted $0.90 earnings per share. On average, research analysts expect that Starbucks Co. will post 2.99 EPS for the current 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.