Harvest Fund Management Co. Ltd Has $6.08 Million Stock Position in Starbucks Co. (NASDAQ:SBUX)

Harvest Fund Management Co. Ltd lifted its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 17.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 66,971 shares of the coffee company’s stock after purchasing an additional 10,019 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Starbucks were worth $6,081,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of SBUX. Wellington Management Group LLP increased its stake in shares of Starbucks by 100.6% during the 3rd quarter. Wellington Management Group LLP now owns 15,149,937 shares of the coffee company’s stock worth $1,476,967,000 after purchasing an additional 7,598,146 shares during the last quarter. FMR LLC boosted its holdings in shares of Starbucks by 55.0% during the 3rd quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock worth $1,928,339,000 after buying an additional 7,015,375 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Starbucks during the 4th quarter worth $284,283,000. Assenagon Asset Management S.A. boosted its holdings in shares of Starbucks by 1,491.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,808,571 shares of the coffee company’s stock worth $256,282,000 after buying an additional 2,632,087 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Starbucks by 1,078.5% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,545,419 shares of the coffee company’s stock worth $248,153,000 after buying an additional 2,329,431 shares during the period. Institutional investors and hedge funds own 72.29% of the company’s stock.

Analyst Ratings Changes

SBUX has been the subject of several recent analyst reports. Argus raised shares of Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price objective for the company in a report on Tuesday. UBS Group upped their price objective on shares of Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Stifel Nicolaus upped their price objective on shares of Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a report on Monday, January 27th. 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 report on Tuesday, February 25th. Finally, BMO Capital Markets increased their price target on shares of Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. Three equities research 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 MarketBeat, Starbucks currently has an average rating of “Moderate Buy” and an average target price of $106.12.

Starbucks Stock Down 0.8 %

Shares of Starbucks stock opened at $98.28 on Wednesday. The stock has a market capitalization of $111.64 billion, a P/E ratio of 31.70, a price-to-earnings-growth ratio of 3.59 and a beta of 0.99. The company has a 50-day simple moving average of $105.05 and a 200 day simple moving average of $99.30. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $117.46.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) 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 in the previous year, the company posted $0.90 earnings per share. On average, equities analysts anticipate that Starbucks Co. will post 2.99 earnings per share for the current year.

About Starbucks

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.