SVB Wealth LLC Invests $6.69 Million in Starbucks Co. (NASDAQ:SBUX)

SVB Wealth LLC purchased a new position in shares of Starbucks Co. (NASDAQ:SBUX) in the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 73,326 shares of the coffee company’s stock, valued at approximately $6,691,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Financial Life Planners bought a new position in Starbucks during the 4th quarter worth approximately $25,000. Collier Financial bought a new position in Starbucks during the 4th quarter worth approximately $27,000. Marshall Investment Management LLC bought a new position in Starbucks during the 4th quarter worth approximately $30,000. Centricity Wealth Management LLC bought a new position in Starbucks during the 4th quarter worth approximately $36,000. Finally, Morton Brown Family Wealth LLC boosted its stake in Starbucks by 43.9% during the 4th quarter. Morton Brown Family Wealth LLC now owns 505 shares of the coffee company’s stock worth $46,000 after acquiring an additional 154 shares during the last quarter. Institutional investors own 72.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. BMO Capital Markets lifted their price objective on shares of Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Wedbush lifted their price target on shares of Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. UBS Group lifted their price target on shares of Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Wells Fargo & Company lifted their price target on shares of Starbucks from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Tuesday. Finally, Barclays lifted their price target on shares of Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Three 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. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $105.75.

Starbucks Trading Up 1.2 %

Shares of SBUX opened at $115.81 on Friday. The company has a market cap of $131.55 billion, a price-to-earnings ratio of 37.36, a PEG ratio of 3.59 and a beta of 1.00. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $116.09. The company’s fifty day simple moving average is $102.11 and its 200 day simple moving average is $98.49.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share 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 quarter in the prior year, the business earned $0.90 EPS. As a group, research analysts forecast that Starbucks Co. will post 2.99 earnings per share for the current 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.