Hardy Reed LLC Acquires New Holdings in Starbucks Co. (NASDAQ:SBUX)

Hardy Reed LLC acquired a new stake in Starbucks Co. (NASDAQ:SBUX) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 11,148 shares of the coffee company’s stock, valued at approximately $1,017,000.

A number of other large investors have also recently added to or reduced their stakes in SBUX. Kuhn & Co Investment Counsel grew its stake in Starbucks by 2.3% during the 4th quarter. Kuhn & Co Investment Counsel now owns 4,240 shares of the coffee company’s stock valued at $387,000 after acquiring an additional 96 shares in the last quarter. Jmac Enterprises LLC lifted its holdings in shares of Starbucks by 1.0% during the 4th quarter. Jmac Enterprises LLC now owns 9,995 shares of the coffee company’s stock valued at $912,000 after buying an additional 103 shares during the last quarter. Aspire Capital Advisors LLC lifted its holdings in shares of Starbucks by 0.5% during the 4th quarter. Aspire Capital Advisors LLC now owns 23,210 shares of the coffee company’s stock valued at $2,118,000 after buying an additional 104 shares during the last quarter. Optas LLC lifted its holdings in shares of Starbucks by 0.6% during the 4th quarter. Optas LLC now owns 16,711 shares of the coffee company’s stock valued at $1,525,000 after buying an additional 105 shares during the last quarter. Finally, Boomfish Wealth Group LLC lifted its holdings in Starbucks by 0.7% in the 4th quarter. Boomfish Wealth Group LLC now owns 15,335 shares of the coffee company’s stock worth $1,399,000 after purchasing an additional 108 shares during the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Trading Down 0.5 %

Shares of SBUX opened at $112.49 on Thursday. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $113.47. The stock has a market cap of $127.78 billion, a P/E ratio of 36.29, a price-to-earnings-growth ratio of 3.56 and a beta of 1.00. The stock’s 50-day moving average price is $99.13 and its two-hundred day moving average price is $96.77.

Starbucks (NASDAQ:SBUX) last issued 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 negative return on equity of 44.97% and a net margin of 9.73%. During the same quarter in the previous year, the company earned $0.90 EPS. As a group, equities analysts forecast that Starbucks Co. will post 3 EPS for the current year.

Analyst Ratings Changes

SBUX has been the subject of a number of research analyst reports. Barclays upped their price target on Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. BMO Capital Markets increased 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. Citigroup increased their price objective on Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. UBS Group raised their target price on Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Finally, Stifel Nicolaus raised their target price on Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $105.33.

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.