Pine Valley Investments Ltd Liability Co Purchases 123 Shares of Starbucks Co. (NASDAQ:SBUX)

Pine Valley Investments Ltd Liability Co boosted its position in Starbucks Co. (NASDAQ:SBUX) by 1.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,678 shares of the coffee company’s stock after acquiring an additional 123 shares during the quarter. Pine Valley Investments Ltd Liability Co’s holdings in Starbucks were worth $974,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in SBUX. Wellington Management Group LLP increased its stake in Starbucks by 100.6% in 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 during the last quarter. FMR LLC grew its stake in shares of Starbucks by 55.0% during the third 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 last quarter. Assenagon Asset Management S.A. grew its stake in shares of Starbucks by 1,491.4% during the fourth 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 last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of Starbucks by 1,078.5% during the third 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 last quarter. Finally, Zurich Insurance Group Ltd FI bought a new stake in shares of Starbucks during the third quarter worth $126,574,000. 72.29% of the stock is owned by institutional investors.

Starbucks Stock Up 1.2 %

SBUX stock opened at $114.59 on Wednesday. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $115.24. The firm has a market cap of $130.16 billion, a price-to-earnings ratio of 36.96, a PEG ratio of 3.59 and a beta of 1.00. The company’s fifty day simple moving average is $100.58 and its 200 day simple moving average is $98.00.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, beating 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 in the prior year, the company earned $0.90 earnings per share. Research analysts expect that Starbucks Co. will post 2.99 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $115.00 target price on shares of Starbucks in a research note on Friday, January 24th. Citigroup boosted their target price on shares of Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Redburn Atlantic reaffirmed a “sell” rating and set a $77.00 target price (down previously from $84.00) on shares of Starbucks in a research note on Wednesday, November 13th. Wells Fargo & Company boosted their target price on shares of Starbucks from $115.00 to $125.00 and gave the stock an “overweight” rating in a research note on Tuesday. Finally, TD Cowen reaffirmed a “buy” rating and set a $110.00 target price on shares of Starbucks in a research note on Monday, November 11th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $105.75.

Starbucks Company 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.