Sunpointe LLC Acquires New Position in Starbucks Co. (NASDAQ:SBUX)

Sunpointe LLC acquired a new stake in shares of Starbucks Co. (NASDAQ:SBUX) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,395 shares of the coffee company’s stock, valued at approximately $219,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Foundations Investment Advisors LLC increased its position in Starbucks by 16.9% during the third quarter. Foundations Investment Advisors LLC now owns 23,028 shares of the coffee company’s stock worth $2,245,000 after purchasing an additional 3,330 shares during the last quarter. Private Advisor Group LLC increased its position in Starbucks by 1.2% during the third quarter. Private Advisor Group LLC now owns 118,946 shares of the coffee company’s stock worth $11,596,000 after purchasing an additional 1,418 shares during the last quarter. RAM Investment Partners LLC acquired a new position in Starbucks during the third quarter worth approximately $203,000. McAdam LLC increased its position in shares of Starbucks by 4.4% in the third quarter. McAdam LLC now owns 6,085 shares of the coffee company’s stock worth $593,000 after acquiring an additional 255 shares in the last quarter. Finally, International Assets Investment Management LLC increased its position in shares of Starbucks by 11,217.0% in the third quarter. International Assets Investment Management LLC now owns 752,355 shares of the coffee company’s stock worth $73,347,000 after acquiring an additional 745,707 shares in the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Price Performance

NASDAQ SBUX opened at $113.34 on Friday. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $113.50. The company has a market capitalization of $128.74 billion, a price-to-earnings ratio of 36.56, a price-to-earnings-growth ratio of 3.56 and a beta of 1.00. The company’s fifty day moving average price is $99.44 and its two-hundred day moving average price is $96.89.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, beating 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 posted $0.90 EPS. As a group, analysts anticipate that Starbucks Co. will post 3 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on SBUX. Royal Bank of Canada reissued an “outperform” rating and issued a $115.00 price objective on shares of Starbucks in a research report on Friday, January 24th. BMO Capital Markets increased their price objective 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. UBS Group increased their price objective on shares of Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Redburn Atlantic reissued a “sell” rating and issued a $77.00 price objective (down previously from $84.00) on shares of Starbucks in a research report on Wednesday, November 13th. Finally, Wells Fargo & Company increased their price objective on shares of Starbucks from $110.00 to $115.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $105.33.

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.