Mitsubishi UFJ Asset Management Co. Ltd. Grows Stake in Starbucks Co. (NASDAQ:SBUX)

Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 9.1% during the 4th quarter, HoldingsChannel reports. The fund owned 1,949,296 shares of the coffee company’s stock after purchasing an additional 162,897 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Starbucks were worth $180,466,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Financial Life Planners purchased a new stake in Starbucks during the 4th quarter valued at $25,000. Graney & King LLC bought a new position in Starbucks during the fourth quarter valued at $26,000. Collier Financial bought a new position in Starbucks during the fourth quarter valued at $27,000. Runnymede Capital Advisors Inc. bought a new stake in shares of Starbucks in the 4th quarter worth about $27,000. Finally, Marshall Investment Management LLC purchased a new position in shares of Starbucks during the 4th quarter worth about $30,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Starbucks Stock Performance

NASDAQ:SBUX opened at $98.85 on Friday. The company’s 50-day simple moving average is $105.69 and its 200-day simple moving average is $99.46. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $117.46. The stock has a market capitalization of $112.28 billion, a P/E ratio of 31.89, a P/E/G ratio of 3.59 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last announced its 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 business earned $0.90 earnings per share. On average, research analysts forecast that Starbucks Co. will post 2.99 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on SBUX shares. Royal Bank of Canada reissued an “outperform” rating and issued a $115.00 price objective on shares of Starbucks in a research report on Friday, January 24th. Stifel Nicolaus increased their price target on Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Barclays boosted their price objective on Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Argus upgraded Starbucks from a “hold” rating to a “buy” rating and set a $115.00 target price on the stock in a research note on Tuesday, March 18th. Finally, BMO Capital Markets boosted their target price on shares of Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Three equities 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, the stock presently has an average rating of “Moderate Buy” and an average price target 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.