Noble Wealth Management PBC Makes New Investment in Starbucks Co. (NASDAQ:SBUX)

Noble Wealth Management PBC purchased a new position in shares of Starbucks Co. (NASDAQ:SBUX) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 328 shares of the coffee company’s stock, valued at approximately $30,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Fisher Asset Management LLC raised its holdings in Starbucks by 1.3% during the 4th quarter. Fisher Asset Management LLC now owns 11,916,777 shares of the coffee company’s stock worth $1,087,406,000 after purchasing an additional 154,093 shares during the last quarter. SVB Wealth LLC bought a new position in Starbucks during the 4th quarter worth approximately $6,691,000. VELA Investment Management LLC raised its holdings in Starbucks by 31.8% during the 4th quarter. VELA Investment Management LLC now owns 42,122 shares of the coffee company’s stock worth $3,844,000 after purchasing an additional 10,155 shares during the last quarter. Fort Sheridan Advisors LLC increased its stake in shares of Starbucks by 24.9% in the 4th quarter. Fort Sheridan Advisors LLC now owns 2,935 shares of the coffee company’s stock valued at $268,000 after acquiring an additional 585 shares in the last quarter. Finally, Brueske Advisory Services LLC bought a new stake in shares of Starbucks in the 4th quarter valued at $1,569,000. Institutional investors own 72.29% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on SBUX shares. UBS Group lifted their price objective on shares of Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Wedbush lifted their price objective on shares of Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. BMO Capital Markets lifted their price objective on shares of Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Redburn Atlantic reiterated a “sell” rating and issued a $77.00 price objective (down previously from $84.00) on shares of Starbucks in a research note on Wednesday, November 13th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $115.00 price objective on shares of Starbucks in a research note on Friday, January 24th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Starbucks has an average rating of “Moderate Buy” and an average price target of $105.75.

Starbucks Stock Performance

Shares of Starbucks stock opened at $115.81 on Monday. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $116.09. The stock’s 50-day simple moving average is $102.11 and its 200 day simple moving average is $98.54. The stock has a market capitalization of $131.55 billion, a P/E ratio of 37.36, a P/E/G ratio of 3.59 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last announced its quarterly 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 quarter in the previous year, the firm earned $0.90 EPS. Equities research analysts forecast that Starbucks Co. will post 2.99 EPS for the current fiscal year.

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.