KLP Kapitalforvaltning AS Purchases Shares of 382,173 Starbucks Co. (NASDAQ:SBUX)

KLP Kapitalforvaltning AS purchased a new stake in Starbucks Co. (NASDAQ:SBUX) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 382,173 shares of the coffee company’s stock, valued at approximately $34,873,000.

A number of other large investors have also recently added to or reduced their stakes in SBUX. Wellington Management Group LLP lifted its stake in Starbucks by 100.6% in the third quarter. Wellington Management Group LLP now owns 15,149,937 shares of the coffee company’s stock valued at $1,476,967,000 after acquiring an additional 7,598,146 shares during the last quarter. FMR LLC lifted its stake in Starbucks by 55.0% in the third quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock valued at $1,928,339,000 after acquiring an additional 7,015,375 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Starbucks during the 4th quarter worth about $284,283,000. Assenagon Asset Management S.A. lifted its stake in shares of Starbucks by 1,491.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,808,571 shares of the coffee company’s stock worth $256,282,000 after buying an additional 2,632,087 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Starbucks by 1,078.5% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,545,419 shares of the coffee company’s stock worth $248,153,000 after buying an additional 2,329,431 shares during the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Wall Street Analyst Weigh In

SBUX has been the subject of a number of research reports. Barclays raised their target price on shares of Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Wedbush raised their target price on shares of Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. UBS Group raised their target price on shares of Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Royal Bank of Canada restated an “outperform” rating and set a $115.00 target price on shares of Starbucks in a research note on Friday, January 24th. Finally, BMO Capital Markets raised their price target on shares of Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $106.12.

Starbucks Stock Down 2.2 %

SBUX stock opened at $97.07 on Friday. The firm has a market cap of $110.26 billion, a P/E ratio of 31.31, a P/E/G ratio of 3.59 and a beta of 0.99. The company’s 50-day moving average price is $105.41 and its two-hundred day moving average price is $99.36. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $117.46.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) 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 quarter last year, the firm posted $0.90 EPS. Equities analysts predict that Starbucks Co. will post 2.99 EPS for the current year.

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.