Potentia Wealth Invests $415,000 in Starbucks Co. (NASDAQ:SBUX)

Potentia Wealth acquired a new stake in shares of Starbucks Co. (NASDAQ:SBUX) in the fourth quarter, HoldingsChannel reports. The fund acquired 4,550 shares of the coffee company’s stock, valued at approximately $415,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Signature Estate & Investment Advisors LLC boosted its holdings in shares of Starbucks by 12.5% in the fourth quarter. Signature Estate & Investment Advisors LLC now owns 5,553 shares of the coffee company’s stock valued at $507,000 after buying an additional 619 shares during the period. First American Trust FSB grew its position in Starbucks by 3.0% during the fourth quarter. First American Trust FSB now owns 4,032 shares of the coffee company’s stock worth $368,000 after buying an additional 119 shares in the last quarter. Heritage Wealth Management Inc. CA lifted its position in Starbucks by 644.6% during the fourth quarter. Heritage Wealth Management Inc. CA now owns 3,991 shares of the coffee company’s stock worth $364,000 after purchasing an additional 3,455 shares during the period. Zions Bancorporation N.A. raised its holdings in shares of Starbucks by 8.6% during the 4th quarter. Zions Bancorporation N.A. now owns 22,699 shares of the coffee company’s stock worth $2,071,000 after buying an additional 1,802 shares in the last quarter. Finally, TIAA Trust National Association grew its stake in shares of Starbucks by 0.4% during the fourth quarter. TIAA Trust National Association now owns 54,977 shares of the coffee company’s stock worth $5,017,000 after buying an additional 222 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Trading Down 1.4 %

NASDAQ SBUX opened at $95.72 on Tuesday. The company has a 50 day moving average of $105.45 and a 200-day moving average of $99.44. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $117.46. The company has a market cap of $108.73 billion, a price-to-earnings ratio of 30.88, a PEG ratio of 3.59 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates 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 company earned $0.90 EPS. On average, equities research analysts forecast that Starbucks Co. will post 2.99 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have issued reports on SBUX. Wells Fargo & Company increased their price target on Starbucks from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Tuesday, February 25th. Royal Bank of Canada restated an “outperform” rating and set a $115.00 price objective on shares of Starbucks in a research report on Friday, January 24th. Stifel Nicolaus upped their price objective on shares of Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Barclays boosted their price objective on Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Finally, Argus raised Starbucks from a “hold” rating to a “buy” rating and set a $115.00 target price on the stock in a research note on Tuesday, March 18th. 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, Starbucks currently has a consensus rating of “Moderate Buy” and a consensus target price 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.