World Equity Group Inc. Raises Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

World Equity Group Inc. increased its position in Starbucks Co. (NASDAQ:SBUX) by 105.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 4,700 shares of the coffee company’s stock after purchasing an additional 2,413 shares during the period. World Equity Group Inc.’s holdings in Starbucks were worth $429,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SBUX. Strategic Financial Concepts LLC bought a new stake in Starbucks in the fourth quarter worth $62,000. Weil Company Inc. boosted its holdings in Starbucks by 31.2% in the third quarter. Weil Company Inc. now owns 34,580 shares of the coffee company’s stock worth $3,371,000 after acquiring an additional 8,222 shares in the last quarter. Maia Wealth LLC boosted its holdings in Starbucks by 69.1% in the third quarter. Maia Wealth LLC now owns 18,582 shares of the coffee company’s stock worth $1,805,000 after acquiring an additional 7,596 shares in the last quarter. Investment Management Corp of Ontario boosted its holdings in Starbucks by 48.6% in the third quarter. Investment Management Corp of Ontario now owns 37,584 shares of the coffee company’s stock worth $3,664,000 after acquiring an additional 12,300 shares in the last quarter. Finally, Aljian Capital Management LLC boosted its holdings in Starbucks by 48.5% in the third quarter. Aljian Capital Management LLC now owns 30,422 shares of the coffee company’s stock worth $2,966,000 after acquiring an additional 9,936 shares in the last quarter. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Stock Down 1.4 %

Shares of SBUX opened at $111.75 on Monday. The business has a 50-day simple moving average of $99.72 and a two-hundred day simple moving average of $97.46. The stock has a market cap of $126.94 billion, a price-to-earnings ratio of 36.05, a PEG ratio of 3.59 and a beta of 1.00. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $114.68.

Starbucks (NASDAQ:SBUX) last issued 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 negative return on equity of 44.97% and a net margin of 9.73%. During the same period in the previous year, the business earned $0.90 earnings per share. On average, equities analysts anticipate that Starbucks Co. will post 2.99 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Citigroup boosted their target price on Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Wedbush boosted 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. Redburn Atlantic reaffirmed a “sell” rating and set a $77.00 price target (down from $84.00) on shares of Starbucks in a report on Wednesday, November 13th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $115.00 price target on shares of Starbucks in a report on Friday, January 24th. Finally, Stifel Nicolaus upped 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. 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 stock. According to MarketBeat, Starbucks currently has a consensus rating of “Moderate Buy” and a consensus price target of $105.33.

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.