Bradley & Co. Private Wealth Management LLC Makes New Investment in Starbucks Co. (NASDAQ:SBUX)

Bradley & Co. Private Wealth Management LLC acquired a new stake in shares of Starbucks Co. (NASDAQ:SBUX) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 8,261 shares of the coffee company’s stock, valued at approximately $754,000. Starbucks accounts for approximately 0.5% of Bradley & Co. Private Wealth Management LLC’s portfolio, making the stock its 20th biggest position.

A number of other hedge funds have also modified their holdings of SBUX. Wellington Management Group LLP grew its stake in Starbucks by 100.6% during the third quarter. Wellington Management Group LLP now owns 15,149,937 shares of the coffee company’s stock valued at $1,476,967,000 after acquiring an additional 7,598,146 shares in the last quarter. FMR LLC raised its position in Starbucks by 55.0% during the third quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock valued at $1,928,339,000 after purchasing an additional 7,015,375 shares during the period. Assenagon Asset Management S.A. increased its position 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 valued at $256,282,000 after purchasing an additional 2,632,087 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in 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 valued at $248,153,000 after buying an additional 2,329,431 shares during the period. Finally, Zurich Insurance Group Ltd FI purchased a new stake in Starbucks during the 3rd quarter valued at $126,574,000. 72.29% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on SBUX. TD Cowen reiterated a “buy” rating and set a $110.00 price objective on shares of Starbucks in a research report on Monday, November 11th. Stifel Nicolaus increased their price objective on Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. UBS Group raised their price target on Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Redburn Atlantic restated a “sell” rating and issued a $77.00 price objective (down from $84.00) on shares of Starbucks in a report on Wednesday, November 13th. Finally, Wells Fargo & Company increased their price objective on shares of Starbucks from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Tuesday. Three investment analysts have rated the stock with a sell rating, six have issued 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.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $105.75.

Starbucks Stock Performance

Shares of Starbucks stock opened at $114.59 on Wednesday. The firm has a 50-day simple moving average of $100.58 and a two-hundred day simple moving average of $98.00. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $115.24. The company has a market cap of $130.16 billion, a P/E ratio of 36.96, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share 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 period in the previous year, the business posted $0.90 earnings per share. Equities research analysts forecast that Starbucks Co. will post 2.99 EPS 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.