Umpqua Bank Invests $229,000 in Starbucks Co. (NASDAQ:SBUX)

Umpqua Bank purchased a new stake in shares of Starbucks Co. (NASDAQ:SBUX) in the fourth quarter, Holdings Channel.com reports. The firm purchased 2,463 shares of the coffee company’s stock, valued at approximately $229,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Financial Life Planners bought a new position in Starbucks in the fourth quarter valued at $25,000. Collier Financial bought a new stake in shares of Starbucks in the 4th quarter worth approximately $27,000. Runnymede Capital Advisors Inc. bought a new stake in Starbucks in the fourth quarter worth $27,000. Marshall Investment Management LLC purchased a new stake in Starbucks during the 4th quarter valued at about $30,000. Finally, Noble Wealth Management PBC purchased a new stake in shares of Starbucks during the fourth quarter valued at approximately $30,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Starbucks Stock Down 2.2 %

NASDAQ:SBUX opened at $97.07 on Friday. The business’s 50-day simple moving average is $105.41 and its two-hundred day simple moving average is $99.36. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $117.46. The stock has a market cap of $110.26 billion, a PE ratio of 31.31, a P/E/G ratio of 3.59 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data 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 in the prior year, the firm posted $0.90 earnings per share. Sell-side analysts anticipate that Starbucks Co. will post 2.99 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SBUX has been the topic of a number of recent analyst reports. Wedbush raised their price target on shares of Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Royal Bank of Canada restated an “outperform” rating and issued a $115.00 price objective on shares of Starbucks in a report on Friday, January 24th. Wells Fargo & Company lifted their price target on shares of Starbucks from $115.00 to $125.00 and gave the company an “overweight” rating in a research report on Tuesday, February 25th. Barclays raised their price objective on shares of Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Finally, UBS Group upped their price objective on Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $106.12.

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.