Heritage Wealth Management Inc. CA Raises Position in Starbucks Co. (NASDAQ:SBUX)

Heritage Wealth Management Inc. CA lifted its stake in Starbucks Co. (NASDAQ:SBUX) by 644.6% in the 4th quarter, HoldingsChannel reports. The firm owned 3,991 shares of the coffee company’s stock after acquiring an additional 3,455 shares during the period. Heritage Wealth Management Inc. CA’s holdings in Starbucks were worth $364,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. Financial Life Planners bought a new position in shares of Starbucks in the fourth quarter worth approximately $25,000. Collier Financial bought a new position in Starbucks in the 4th quarter worth $27,000. Runnymede Capital Advisors Inc. purchased a new stake in Starbucks in the 4th quarter worth $27,000. Marshall Investment Management LLC bought a new stake in Starbucks during the fourth quarter valued at about $30,000. Finally, Noble Wealth Management PBC purchased a new position in shares of Starbucks in the fourth quarter valued at about $30,000. 72.29% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on SBUX. BMO Capital Markets increased their target price on Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Royal Bank of Canada reiterated an “outperform” rating and set a $115.00 price objective on shares of Starbucks in a research report on Friday, January 24th. Wells Fargo & Company upped their target price on shares of Starbucks from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 25th. UBS Group boosted their price target on shares of Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Finally, Wedbush lifted their target price on Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $106.12.

Starbucks Stock Down 1.4 %

SBUX opened at $95.72 on Tuesday. The business has a fifty day moving average of $105.45 and a 200 day moving average of $99.44. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $117.46. The stock has a market cap of $108.73 billion, a P/E ratio of 30.88, a PEG ratio of 3.59 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 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 period in the previous year, the firm earned $0.90 EPS. Equities analysts anticipate that Starbucks Co. will post 2.99 EPS for the current fiscal year.

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.