OFI Invest Asset Management Makes New Investment in Starbucks Co. (NASDAQ:SBUX)

OFI Invest Asset Management bought a new position in Starbucks Co. (NASDAQ:SBUX) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 107,776 shares of the coffee company’s stock, valued at approximately $9,497,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Larson Financial Group LLC lifted its position in Starbucks by 0.6% in the fourth quarter. Larson Financial Group LLC now owns 22,407 shares of the coffee company’s stock worth $2,045,000 after purchasing an additional 128 shares during the period. HM Payson & Co. increased its holdings in shares of Starbucks by 22.1% in the fourth quarter. HM Payson & Co. now owns 7,243 shares of the coffee company’s stock valued at $661,000 after buying an additional 1,312 shares in the last quarter. Arjuna Capital increased its holdings in shares of Starbucks by 4.9% in the fourth quarter. Arjuna Capital now owns 12,772 shares of the coffee company’s stock valued at $1,165,000 after buying an additional 600 shares in the last quarter. Generali Investments CEE investicni spolecnost a.s. bought a new position in shares of Starbucks in the fourth quarter valued at $2,692,000. Finally, Bank Julius Baer & Co. Ltd Zurich increased its holdings in shares of Starbucks by 49.2% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 208,607 shares of the coffee company’s stock valued at $20,796,000 after buying an additional 68,807 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Trading Up 1.0 %

Shares of NASDAQ:SBUX opened at $106.48 on Friday. The stock has a market capitalization of $120.95 billion, a PE ratio of 34.35, a P/E/G ratio of 3.59 and a beta of 0.99. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $117.46. The firm has a fifty day moving average price of $104.10 and a 200 day moving average price of $99.08.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (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 earnings per share. On average, sell-side analysts forecast that Starbucks Co. will post 2.99 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Barclays upped their price target on Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Wedbush upped their price target on Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $115.00 price target on shares of Starbucks in a report on Friday, January 24th. UBS Group upped their price target on Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Finally, Wells Fargo & Company boosted their target price on shares of Starbucks from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Tuesday, February 25th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $105.75.

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.