Geode Capital Management LLC Boosts Stock Position in Starbucks Co. (NASDAQ:SBUX)

Geode Capital Management LLC grew its position in Starbucks Co. (NASDAQ:SBUX) by 2.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 24,826,001 shares of the coffee company’s stock after purchasing an additional 548,245 shares during the period. Geode Capital Management LLC owned approximately 2.19% of Starbucks worth $2,259,516,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Nemes Rush Group LLC lifted its stake in Starbucks by 9.2% during the 4th quarter. Nemes Rush Group LLC now owns 22,998 shares of the coffee company’s stock valued at $2,099,000 after acquiring an additional 1,935 shares during the period. StoneX Group Inc. acquired a new position in Starbucks during the fourth quarter valued at $3,291,000. Franklin Resources Inc. grew its position in Starbucks by 4.9% during the 4th quarter. Franklin Resources Inc. now owns 4,478,126 shares of the coffee company’s stock worth $408,629,000 after purchasing an additional 210,011 shares during the period. Family Legacy Inc. raised its stake in shares of Starbucks by 1.0% during the 4th quarter. Family Legacy Inc. now owns 30,870 shares of the coffee company’s stock valued at $2,859,000 after buying an additional 316 shares during the last quarter. Finally, AIA Group Ltd lifted its holdings in shares of Starbucks by 7.5% in the 4th quarter. AIA Group Ltd now owns 90,717 shares of the coffee company’s stock valued at $8,278,000 after buying an additional 6,303 shares during the period. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Barclays lifted their price target on Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. BMO Capital Markets boosted their target price 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. Royal Bank of Canada restated an “outperform” rating and set a $115.00 price target on shares of Starbucks in a research report on Friday, January 24th. 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. Finally, UBS Group raised their target price on Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $106.12.

Starbucks Stock Up 0.4 %

Shares of SBUX opened at $98.09 on Tuesday. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $117.46. The stock has a fifty day simple moving average of $105.81 and a two-hundred day simple moving average of $99.54. The company has a market capitalization of $111.42 billion, a PE ratio of 31.64, a price-to-earnings-growth ratio of 3.59 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company earned $0.90 earnings per share. As a group, equities analysts anticipate that Starbucks Co. will post 2.99 earnings per share for the current fiscal 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.