Wellington Management Group LLP Has $1.45 Billion Position in Starbucks Co. (NASDAQ:SBUX)

Wellington Management Group LLP boosted its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 4.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,868,817 shares of the coffee company’s stock after acquiring an additional 718,880 shares during the period. Wellington Management Group LLP owned 1.40% of Starbucks worth $1,448,030,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Financial Life Planners acquired a new position in Starbucks in the fourth quarter valued at about $25,000. Graney & King LLC acquired a new position in shares of Starbucks in the 4th quarter valued at approximately $26,000. Collier Financial bought a new stake in shares of Starbucks during the 4th quarter worth approximately $27,000. Runnymede Capital Advisors Inc. acquired a new stake in shares of Starbucks during the 4th quarter worth approximately $27,000. Finally, Marshall Investment Management LLC bought a new position in Starbucks in the fourth quarter valued at approximately $30,000. 72.29% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

SBUX has been the subject of several recent analyst reports. Argus upgraded Starbucks from a “hold” rating to a “buy” rating and set a $115.00 target price for the company in a research note on Tuesday, March 18th. Wedbush upped their price objective on Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Stifel Nicolaus lifted their target price on Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Barclays raised their price target on shares of Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Finally, Wells Fargo & Company upped their price objective on shares of Starbucks from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 25th. Three analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $106.12.

Starbucks Stock Performance

NASDAQ:SBUX opened at $97.73 on Monday. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $117.46. The firm’s fifty day moving average is $105.75 and its 200-day moving average is $99.55. The firm has a market cap of $111.01 billion, a P/E ratio of 31.53, a P/E/G ratio of 3.59 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share 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 quarter in the prior year, the company posted $0.90 earnings per share. As a group, sell-side analysts anticipate that Starbucks Co. will post 2.99 earnings per share for the current 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.