Impax Asset Management Group plc Acquires 224,214 Shares of Starbucks Co. (NASDAQ:SBUX)

Impax Asset Management Group plc lifted its stake in Starbucks Co. (NASDAQ:SBUX) by 253.5% during the 4th quarter, Holdings Channel reports. The firm owned 312,653 shares of the coffee company’s stock after acquiring an additional 224,214 shares during the period. Impax Asset Management Group plc’s holdings in Starbucks were worth $28,530,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in SBUX. Hennion & Walsh Asset Management Inc. boosted its position in shares of Starbucks by 31.8% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 3,766 shares of the coffee company’s stock worth $367,000 after purchasing an additional 909 shares in the last quarter. Arkadios Wealth Advisors raised its stake in Starbucks by 15.3% during the 3rd quarter. Arkadios Wealth Advisors now owns 10,555 shares of the coffee company’s stock worth $1,029,000 after buying an additional 1,400 shares during the period. State of Alaska Department of Revenue lifted its holdings in Starbucks by 6.9% during the third quarter. State of Alaska Department of Revenue now owns 131,659 shares of the coffee company’s stock worth $12,835,000 after acquiring an additional 8,450 shares in the last quarter. Klein Pavlis & Peasley Financial Inc. grew its stake in Starbucks by 4.9% in the third quarter. Klein Pavlis & Peasley Financial Inc. now owns 29,550 shares of the coffee company’s stock valued at $2,881,000 after acquiring an additional 1,372 shares during the period. Finally, Hibernia Wealth Partners LLC bought a new stake in shares of Starbucks in the third quarter worth about $379,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on SBUX shares. Redburn Atlantic reiterated a “sell” rating and set a $77.00 price objective (down previously from $84.00) on shares of Starbucks in a report on Wednesday, November 13th. Citigroup lifted their price target on shares of Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Royal Bank of Canada reissued an “outperform” rating and set a $115.00 price objective on shares of Starbucks in a research report on Friday, January 24th. BMO Capital Markets boosted their price objective 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. Finally, Barclays upped their target price on shares of Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $105.33.

Starbucks Price Performance

Starbucks stock opened at $113.19 on Tuesday. The company’s 50-day moving average is $100.13 and its 200-day moving average is $97.72. The firm has a market capitalization of $128.57 billion, a PE ratio of 36.51, a P/E/G ratio of 3.59 and a beta of 1.00. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $114.68.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates 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 quarter in the prior year, the firm earned $0.90 EPS. As a group, analysts expect that Starbucks Co. will post 2.99 EPS for the current year.

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.