Global Retirement Partners LLC Purchases 4,667 Shares of Starbucks Co. (NASDAQ:SBUX)

Global Retirement Partners LLC lifted its position in Starbucks Co. (NASDAQ:SBUX) by 10.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 51,350 shares of the coffee company’s stock after buying an additional 4,667 shares during the quarter. Global Retirement Partners LLC’s holdings in Starbucks were worth $4,686,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Bank of Jackson Hole Trust bought a new position in shares of Starbucks in the fourth quarter valued at $555,000. Lorne Steinberg Wealth Management Inc. boosted its position in Starbucks by 1.4% during the fourth quarter. Lorne Steinberg Wealth Management Inc. now owns 53,675 shares of the coffee company’s stock worth $4,898,000 after purchasing an additional 735 shares during the period. Klingman & Associates LLC increased its holdings in shares of Starbucks by 5.3% in the fourth quarter. Klingman & Associates LLC now owns 3,441 shares of the coffee company’s stock valued at $314,000 after purchasing an additional 172 shares during the last quarter. New York State Common Retirement Fund raised its position in shares of Starbucks by 1.2% in the fourth quarter. New York State Common Retirement Fund now owns 1,726,892 shares of the coffee company’s stock valued at $157,579,000 after purchasing an additional 21,100 shares during the period. Finally, Callahan Advisors LLC raised its position in shares of Starbucks by 2.3% in the fourth quarter. Callahan Advisors LLC now owns 36,777 shares of the coffee company’s stock valued at $3,356,000 after purchasing an additional 830 shares during the period. 72.29% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SBUX. TD Cowen reissued a “buy” rating and issued a $110.00 price objective on shares of Starbucks in a research report on Monday, November 11th. Wells Fargo & Company increased their price objective on shares of Starbucks from $110.00 to $115.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. Barclays increased their price objective on shares of Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Royal Bank of Canada reissued an “outperform” rating and issued a $115.00 price objective on shares of Starbucks in a research report on Friday, January 24th. Finally, Wedbush upped their price target 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. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $105.33.

Starbucks Stock Down 0.5 %

NASDAQ:SBUX opened at $112.49 on Thursday. The stock’s 50-day simple moving average is $99.13 and its 200 day simple moving average is $96.77. The firm has a market capitalization of $127.78 billion, a PE ratio of 36.29, a price-to-earnings-growth ratio of 3.55 and a beta of 1.00. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $113.47.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, beating 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 last year, the business earned $0.90 EPS. On average, analysts anticipate that Starbucks Co. will post 3 EPS 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.