Next Capital Management LLC Makes New $207,000 Investment in Starbucks Co. (NASDAQ:SBUX)

Next Capital Management LLC acquired a new position in shares of Starbucks Co. (NASDAQ:SBUX) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 2,268 shares of the coffee company’s stock, valued at approximately $207,000.

Other institutional investors also recently modified their holdings of the company. Wellington Management Group LLP increased its holdings in Starbucks by 100.6% during the 3rd quarter. Wellington Management Group LLP now owns 15,149,937 shares of the coffee company’s stock valued at $1,476,967,000 after purchasing an additional 7,598,146 shares in the last quarter. FMR LLC increased its stake in shares of 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 buying an additional 7,015,375 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Starbucks in the fourth quarter valued at about $284,283,000. Assenagon Asset Management S.A. lifted its position in 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 in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its holdings in 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 acquiring an additional 2,329,431 shares during the last quarter. Institutional investors own 72.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on SBUX shares. Stifel Nicolaus boosted their target price on shares of Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Argus raised Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price objective on the stock in a report on Tuesday. BMO Capital Markets increased their price objective on Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Barclays upped their price target on Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Finally, Wedbush lifted their price objective on Starbucks from $95.00 to $100.00 and gave the stock a “neutral” 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 assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Starbucks has a consensus rating of “Moderate Buy” and an average target price of $106.12.

Starbucks Stock Performance

Shares of SBUX opened at $98.28 on Wednesday. The stock has a 50 day simple moving average of $105.05 and a 200 day simple moving average of $99.30. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $117.46. The firm has a market capitalization of $111.64 billion, a PE ratio of 31.70, a P/E/G ratio of 3.59 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last released 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 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. Equities research analysts predict that Starbucks Co. will post 2.99 EPS for the current fiscal year.

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.