iA Global Asset Management Inc. Raises Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

iA Global Asset Management Inc. raised its position in shares of Starbucks Co. (NASDAQ:SBUX) by 62.4% during the 4th quarter, Holdings Channel reports. The fund owned 200,247 shares of the coffee company’s stock after purchasing an additional 76,910 shares during the period. iA Global Asset Management Inc.’s holdings in Starbucks were worth $18,273,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Teacher Retirement System of Texas raised its holdings in shares of Starbucks by 64.3% during the 4th quarter. Teacher Retirement System of Texas now owns 66,843 shares of the coffee company’s stock worth $6,099,000 after acquiring an additional 26,164 shares in the last quarter. Royal London Asset Management Ltd. raised its holdings in Starbucks by 1.1% during the 4th quarter. Royal London Asset Management Ltd. now owns 473,779 shares of the coffee company’s stock valued at $43,232,000 after buying an additional 5,274 shares during the period. Next Capital Management LLC purchased a new stake in Starbucks during the 4th quarter valued at $207,000. Generali Investments Management Co LLC purchased a new stake in Starbucks during the 4th quarter valued at $182,000. Finally, Harvest Fund Management Co. Ltd raised its holdings in Starbucks by 17.6% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 66,971 shares of the coffee company’s stock valued at $6,081,000 after buying an additional 10,019 shares during the period. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Price Performance

Shares of SBUX stock opened at $99.19 on Thursday. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $117.46. The stock’s 50-day moving average is $105.18 and its 200 day moving average is $99.30. The company has a market cap of $112.67 billion, a P/E ratio of 32.00, a PEG ratio of 3.59 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, beating 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 prior year, the company earned $0.90 EPS. On average, analysts anticipate that Starbucks Co. will post 2.99 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SBUX. Stifel Nicolaus increased their price target on Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a report on Monday, January 27th. Royal Bank of Canada restated an “outperform” rating and set a $115.00 price target on shares of Starbucks in a report on Friday, January 24th. Wells Fargo & Company increased their price target on Starbucks from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Tuesday, February 25th. Argus upgraded Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price target on the stock in a report on Tuesday. Finally, Barclays upped their price objective on Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $106.12.

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.