Centricity Wealth Management LLC Buys Shares of 400 Starbucks Co. (NASDAQ:SBUX)

Centricity Wealth Management LLC purchased a new position in shares of Starbucks Co. (NASDAQ:SBUX) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 400 shares of the coffee company’s stock, valued at approximately $36,000.

Several other institutional investors have also recently made changes to their positions in the company. Legacy Capital Group California Inc. grew its holdings in Starbucks by 7.2% during the 4th quarter. Legacy Capital Group California Inc. now owns 5,222 shares of the coffee company’s stock worth $477,000 after acquiring an additional 350 shares in the last quarter. Nicholson Wealth Management Group LLC lifted its position in shares of Starbucks by 104.8% in the 4th quarter. Nicholson Wealth Management Group LLC now owns 15,854 shares of the coffee company’s stock worth $1,447,000 after purchasing an additional 8,112 shares during the period. Parcion Private Wealth LLC lifted its position in shares of Starbucks by 2.0% in the 4th quarter. Parcion Private Wealth LLC now owns 14,078 shares of the coffee company’s stock worth $1,285,000 after purchasing an additional 278 shares during the period. Morningstar Investment Management LLC boosted its stake in shares of Starbucks by 3.8% during the fourth quarter. Morningstar Investment Management LLC now owns 7,327 shares of the coffee company’s stock valued at $669,000 after purchasing an additional 271 shares in the last quarter. Finally, Concurrent Investment Advisors LLC increased its holdings in Starbucks by 4.0% during the fourth quarter. Concurrent Investment Advisors LLC now owns 52,037 shares of the coffee company’s stock valued at $4,748,000 after buying an additional 2,017 shares during the period. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on SBUX shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $115.00 target price on shares of Starbucks in a research report on Friday, January 24th. BMO Capital Markets raised 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. Redburn Atlantic reiterated a “sell” rating and issued a $77.00 target price (down previously from $84.00) on shares of Starbucks in a research note on Wednesday, November 13th. UBS Group increased their price target on shares of Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Finally, Stifel Nicolaus lifted their price objective on shares of Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Starbucks has an average rating of “Moderate Buy” and an average price target of $105.33.

Starbucks Trading Down 1.4 %

Shares of NASDAQ SBUX opened at $111.75 on Friday. The stock has a market cap of $126.94 billion, a price-to-earnings ratio of 36.05, a PEG ratio of 3.56 and a beta of 1.00. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $114.68. The company has a 50 day simple moving average of $99.72 and a two-hundred day simple moving average of $97.15.

Starbucks (NASDAQ:SBUX) last posted 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 period last year, the business earned $0.90 EPS. Analysts forecast 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.