Horizon Investments LLC Boosts Stock Position in Starbucks Co. (NASDAQ:SBUX)

Horizon Investments LLC raised its position in shares of Starbucks Co. (NASDAQ:SBUX) by 2.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 25,702 shares of the coffee company’s stock after purchasing an additional 702 shares during the quarter. Horizon Investments LLC’s holdings in Starbucks were worth $2,345,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in SBUX. Financial Life Planners purchased a new stake in Starbucks during the 4th quarter valued at about $25,000. Collier Financial purchased a new stake in Starbucks during the 4th quarter valued at about $27,000. Marshall Investment Management LLC purchased a new stake in Starbucks during the 4th quarter valued at about $30,000. Noble Wealth Management PBC purchased a new stake in Starbucks during the 4th quarter valued at about $30,000. Finally, Centricity Wealth Management LLC purchased a new stake in Starbucks during the 4th quarter valued at about $36,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Wall Street Analysts Forecast Growth

SBUX has been the topic of several research analyst reports. Argus upgraded Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price target on the stock in a research note on Tuesday. Wedbush boosted their price objective on Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Stifel Nicolaus boosted their price objective on Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a report on Monday, January 27th. UBS Group boosted their price objective on Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Finally, Wells Fargo & Company boosted their price objective on Starbucks from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Tuesday, February 25th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $106.12.

Starbucks Trading Down 0.8 %

SBUX opened at $98.28 on Wednesday. The firm has a market capitalization of $111.64 billion, a PE ratio of 31.70, a PEG ratio of 3.59 and a beta of 0.99. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $117.46. The firm’s 50-day moving average price is $105.05 and its 200 day moving average price is $99.30.

Starbucks (NASDAQ:SBUX) last posted 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 net margin of 9.73% and a negative return on equity of 44.97%. During the same quarter last year, the firm earned $0.90 EPS. As a group, analysts predict that Starbucks Co. will post 2.99 earnings per share 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.