Cable Hill Partners LLC Raises Position in Starbucks Co. (NASDAQ:SBUX)

Cable Hill Partners LLC grew its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 8.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,027 shares of the coffee company’s stock after acquiring an additional 889 shares during the period. Cable Hill Partners LLC’s holdings in Starbucks were worth $1,097,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of SBUX. Hennion & Walsh Asset Management Inc. raised its stake in shares of Starbucks by 31.8% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 3,766 shares of the coffee company’s stock worth $367,000 after buying an additional 909 shares during the period. Pallas Capital Advisors LLC purchased a new stake in Starbucks in the 3rd quarter worth approximately $235,000. abrdn plc raised its stake in Starbucks by 30.5% during the 3rd quarter. abrdn plc now owns 538,970 shares of the coffee company’s stock worth $52,145,000 after acquiring an additional 125,912 shares during the period. Strategic Blueprint LLC purchased a new position in Starbucks during the third quarter valued at approximately $209,000. Finally, Valmark Advisers Inc. boosted its position in shares of Starbucks by 2.3% in the third quarter. Valmark Advisers Inc. now owns 10,906 shares of the coffee company’s stock worth $1,063,000 after purchasing an additional 243 shares during the period. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SBUX has been the topic of several recent analyst reports. TD Cowen restated a “buy” rating and set a $110.00 price objective on shares of Starbucks in a research report on Monday, November 11th. Barclays raised their price target on Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. BMO Capital Markets upped their price objective on Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Royal Bank of Canada reissued an “outperform” rating and set a $115.00 target price on shares of Starbucks in a research note on Friday, January 24th. Finally, Wells Fargo & Company boosted their price target on Starbucks from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Tuesday. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $105.75.

Starbucks Stock Down 1.4 %

Shares of SBUX opened at $113.00 on Thursday. The business has a fifty day moving average of $101.04 and a 200 day moving average of $98.10. The company has a market cap of $128.36 billion, a PE ratio of 36.45, a P/E/G ratio of 3.59 and a beta of 1.00. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $115.24.

Starbucks (NASDAQ:SBUX) last released its earnings results 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 period last year, the firm posted $0.90 earnings per share. As a group, research 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.