Venturi Wealth Management LLC Grows Stock Position in Starbucks Co. (NASDAQ:SBUX)

Venturi Wealth Management LLC raised its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 84.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 4,953 shares of the coffee company’s stock after acquiring an additional 2,273 shares during the period. Venturi Wealth Management LLC’s holdings in Starbucks were worth $452,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. Wellington Management Group LLP grew its position in shares of 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 acquiring an additional 7,598,146 shares during the period. FMR LLC grew its position in shares of Starbucks by 55.0% during the 3rd 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 period. Assenagon Asset Management S.A. grew its position 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 valued at $256,282,000 after acquiring an additional 2,632,087 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its position 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 valued at $248,153,000 after acquiring an additional 2,329,431 shares during the period. Finally, Zurich Insurance Group Ltd FI acquired a new stake in shares of Starbucks during the 3rd quarter valued at about $126,574,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Analyst Ratings Changes

SBUX has been the topic of a number of analyst reports. Wedbush raised their target price on Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Wells Fargo & Company lifted their price objective on Starbucks from $110.00 to $115.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. TD Cowen reiterated a “buy” rating and issued a $110.00 price objective on shares of Starbucks in a report on Monday, November 11th. Barclays lifted their price objective on Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Finally, Citigroup lifted their price objective on Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $105.33.

Starbucks Stock Performance

SBUX stock opened at $112.49 on Thursday. The firm has a market cap of $127.78 billion, a PE ratio of 36.29, a PEG ratio of 3.55 and a beta of 1.00. The firm’s 50 day moving average price is $99.13 and its 200-day moving average price is $96.77. Starbucks Co. has a one year low of $71.55 and a one year high of $113.47.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 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 research analysts predict that Starbucks Co. will post 3 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.