DnB Asset Management AS Purchases 11,822 Shares of Starbucks Co. (NASDAQ:SBUX)

DnB Asset Management AS raised its position in shares of Starbucks Co. (NASDAQ:SBUX) by 6.1% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 205,456 shares of the coffee company’s stock after purchasing an additional 11,822 shares during the quarter. DnB Asset Management AS’s holdings in Starbucks were worth $18,748,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. Wintrust Investments LLC increased its holdings in Starbucks by 7.1% during the 4th quarter. Wintrust Investments LLC now owns 1,411 shares of the coffee company’s stock valued at $128,000 after purchasing an additional 94 shares during the period. Kuhn & Co Investment Counsel increased its stake in shares of Starbucks by 2.3% during the fourth quarter. Kuhn & Co Investment Counsel now owns 4,240 shares of the coffee company’s stock valued at $387,000 after buying an additional 96 shares during the period. Wellington Shields & Co. LLC raised its holdings in shares of Starbucks by 8.6% during the fourth quarter. Wellington Shields & Co. LLC now owns 1,265 shares of the coffee company’s stock valued at $115,000 after acquiring an additional 100 shares in the last quarter. Mystic Asset Management Inc. lifted its stake in Starbucks by 3.9% in the fourth quarter. Mystic Asset Management Inc. now owns 2,665 shares of the coffee company’s stock worth $243,000 after acquiring an additional 101 shares during the period. Finally, Jmac Enterprises LLC boosted its holdings in Starbucks by 1.0% in the fourth quarter. Jmac Enterprises LLC now owns 9,995 shares of the coffee company’s stock valued at $912,000 after acquiring an additional 103 shares in the last quarter. Institutional investors own 72.29% of the company’s stock.

Starbucks Stock Down 1.1 %

Starbucks stock opened at $97.73 on Friday. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $117.46. The company has a market cap of $111.01 billion, a P/E ratio of 31.53, a P/E/G ratio of 3.59 and a beta of 0.99. The business has a 50-day simple moving average of $105.75 and a two-hundred day simple moving average of $99.50.

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

Analysts Set New Price Targets

SBUX has been the topic of a number of research reports. 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. Barclays raised their target price on Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Stifel Nicolaus upped their price target on Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. BMO Capital Markets raised their price objective on Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Finally, Argus upgraded shares of Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price target for the company in a research note on Tuesday, March 18th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Starbucks has a consensus rating of “Moderate Buy” and a consensus target price of $106.12.

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.