Harvest Fund Management Co. Ltd Has $6.08 Million Holdings in Starbucks Co. (NASDAQ:SBUX)

Harvest Fund Management Co. Ltd raised its stake in Starbucks Co. (NASDAQ:SBUX) by 17.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 66,971 shares of the coffee company’s stock after acquiring an additional 10,019 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Starbucks were worth $6,081,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SBUX. Wellington Management Group LLP increased its position in Starbucks by 100.6% in 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 in the last quarter. 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 worth $1,928,339,000 after buying an additional 7,015,375 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Starbucks during the 4th quarter worth approximately $284,283,000. 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 worth $256,282,000 after buying an additional 2,632,087 shares during the period. Finally, 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 worth $248,153,000 after buying an additional 2,329,431 shares during the period. Institutional investors and hedge funds own 72.29% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on SBUX. Royal Bank of Canada reiterated an “outperform” rating and set a $115.00 price target on shares of Starbucks in a research report on Friday, January 24th. Argus upgraded shares of Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price target for the company in a research report on Tuesday. Barclays lifted their price target on shares of Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. UBS Group lifted their price target 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. Finally, Stifel Nicolaus boosted their price objective on shares of Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a report on Monday, January 27th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $106.12.

Starbucks Trading Down 0.8 %

Shares of SBUX opened at $98.28 on Wednesday. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $117.46. The firm has a fifty day simple moving average of $105.05 and a 200 day simple moving average of $99.30. The stock has a market capitalization of $111.64 billion, a price-to-earnings ratio of 31.70, a PEG ratio of 3.59 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, topping 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 in the previous year, the business earned $0.90 earnings per share. As a group, research analysts predict that Starbucks Co. will post 2.99 earnings per share for the current fiscal 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.