Caisse Des Depots ET Consignations Invests $3.07 Million in Starbucks Co. (NASDAQ:SBUX)

Caisse Des Depots ET Consignations bought a new stake in Starbucks Co. (NASDAQ:SBUX) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 33,674 shares of the coffee company’s stock, valued at approximately $3,073,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Strategic Financial Concepts LLC bought a new stake in Starbucks during the fourth quarter worth about $62,000. Arizona State Retirement System raised its stake in shares of Starbucks by 0.8% during the 4th quarter. Arizona State Retirement System now owns 327,459 shares of the coffee company’s stock worth $29,881,000 after purchasing an additional 2,722 shares in the last quarter. West Michigan Advisors LLC bought a new position in shares of Starbucks in the fourth quarter valued at $265,000. Wernau Asset Management Inc. acquired a new position in Starbucks during the fourth quarter worth $258,000. Finally, Investment Management Corp of Ontario raised its position in Starbucks by 48.6% during the third quarter. Investment Management Corp of Ontario now owns 37,584 shares of the coffee company’s stock worth $3,664,000 after acquiring an additional 12,300 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Price Performance

SBUX opened at $97.97 on Thursday. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $117.46. The company’s 50-day moving average is $105.61 and its 200 day moving average is $99.47. The firm has a market capitalization of $111.28 billion, a P/E ratio of 31.60, a PEG ratio of 3.59 and a beta of 0.99.

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, beating analysts’ consensus estimates of $0.68 by $0.01. Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. During the same quarter in the previous year, the business posted $0.90 EPS. On average, equities research analysts expect that Starbucks Co. will post 2.99 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently commented on SBUX shares. Stifel Nicolaus lifted their target price on Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Barclays lifted their price objective on shares of Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Argus upgraded shares of Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price target for the company in a research report on Tuesday, March 18th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $115.00 price objective on shares of Starbucks in a report on Friday, January 24th. Finally, Wells Fargo & Company boosted their price target on Starbucks from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Tuesday, February 25th. 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 given a strong buy rating to the company. According to MarketBeat, Starbucks presently has an average rating of “Moderate Buy” and an average price target of $106.12.

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.