Ascent Wealth Partners LLC Makes New Investment in Starbucks Co. (NASDAQ:SBUX)

Ascent Wealth Partners LLC bought a new position in Starbucks Co. (NASDAQ:SBUX) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,885 shares of the coffee company’s stock, valued at approximately $263,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Pavion Blue Capital LLC boosted its position in Starbucks by 16.7% in the fourth quarter. Pavion Blue Capital LLC now owns 13,839 shares of the coffee company’s stock worth $1,263,000 after purchasing an additional 1,985 shares during the last quarter. Howard Capital Management Inc. boosted its position in Starbucks by 3.2% in the fourth quarter. Howard Capital Management Inc. now owns 33,263 shares of the coffee company’s stock worth $3,035,000 after purchasing an additional 1,033 shares during the last quarter. Wealthspire Advisors LLC boosted its position in Starbucks by 1.2% in the fourth quarter. Wealthspire Advisors LLC now owns 42,717 shares of the coffee company’s stock worth $3,898,000 after purchasing an additional 516 shares during the last quarter. Tradewinds Capital Management LLC boosted its position in Starbucks by 39.4% in the fourth quarter. Tradewinds Capital Management LLC now owns 10,143 shares of the coffee company’s stock worth $926,000 after purchasing an additional 2,869 shares during the last quarter. Finally, Abound Financial LLC purchased a new position in Starbucks in the fourth quarter worth about $427,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SBUX has been the topic of a number of analyst reports. Wedbush lifted their price objective on Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Wells Fargo & Company lifted their price objective on Starbucks from $110.00 to $115.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. UBS Group lifted their price objective on Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Stifel Nicolaus lifted their price objective on Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Finally, Barclays lifted their price objective on Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $105.33.

Starbucks Price Performance

NASDAQ:SBUX opened at $111.75 on Friday. The stock’s 50 day simple moving average is $99.72 and its two-hundred day simple moving average is $97.30. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $114.68. The company has a market cap of $126.94 billion, a price-to-earnings ratio of 36.05, a PEG ratio of 3.59 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data 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 negative return on equity of 44.97% and a net margin of 9.73%. During the same quarter in the previous year, the company posted $0.90 earnings per share. As a group, analysts anticipate that Starbucks Co. will post 2.99 EPS for the current 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.