Korea Investment CORP Raises Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Korea Investment CORP boosted its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 12.3% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 566,965 shares of the coffee company’s stock after acquiring an additional 61,900 shares during the quarter. Korea Investment CORP’s holdings in Starbucks were worth $51,736,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Financial Life Planners purchased a new position in shares of Starbucks during the 4th quarter worth approximately $25,000. Graney & King LLC acquired a new position in Starbucks during the fourth quarter worth $26,000. Collier Financial purchased a new position in shares of Starbucks during the fourth quarter worth $27,000. Runnymede Capital Advisors Inc. acquired a new stake in shares of Starbucks in the fourth quarter valued at $27,000. Finally, Marshall Investment Management LLC purchased a new stake in shares of Starbucks in the 4th quarter valued at $30,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Price Performance

Shares of NASDAQ SBUX opened at $98.85 on Friday. The company has a 50-day simple moving average of $105.69 and a 200-day simple moving average of $99.46. The company has a market cap of $112.28 billion, a PE ratio of 31.89, a price-to-earnings-growth ratio of 3.59 and a beta of 0.99. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $117.46.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, beating the consensus estimate 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 prior year, the firm posted $0.90 earnings per share. On average, analysts anticipate that Starbucks Co. will post 2.99 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on SBUX. Argus upgraded Starbucks from a “hold” rating to a “buy” rating and set a $115.00 target price for the company in a report on Tuesday, March 18th. Wells Fargo & Company lifted their price objective on shares of Starbucks from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Tuesday, February 25th. BMO Capital Markets raised their price target on shares of Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Stifel Nicolaus upped their price objective on Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Finally, UBS Group lifted their target price on Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Three research 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $106.12.

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.