UniSuper Management Pty Ltd Acquires 16,032 Shares of Starbucks Co. (NASDAQ:SBUX)

UniSuper Management Pty Ltd increased its holdings in Starbucks Co. (NASDAQ:SBUX) by 4.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 384,906 shares of the coffee company’s stock after acquiring an additional 16,032 shares during the period. UniSuper Management Pty Ltd’s holdings in Starbucks were worth $35,123,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in SBUX. Strategic Financial Concepts LLC purchased a new stake in Starbucks during the fourth quarter valued at about $62,000. Arizona State Retirement System lifted its stake in shares of Starbucks by 0.8% in the 4th quarter. Arizona State Retirement System now owns 327,459 shares of the coffee company’s stock valued at $29,881,000 after acquiring an additional 2,722 shares during the last quarter. West Michigan Advisors LLC purchased a new stake in Starbucks during the 4th quarter valued at about $265,000. Wernau Asset Management Inc. bought a new position in Starbucks during the 4th quarter worth approximately $258,000. Finally, Investment Management Corp of Ontario increased its stake in Starbucks by 48.6% in the 3rd quarter. Investment Management Corp of Ontario now owns 37,584 shares of the coffee company’s stock worth $3,664,000 after purchasing an additional 12,300 shares during the period. Institutional investors own 72.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on SBUX. Stifel Nicolaus increased their price objective on Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a research note on Monday, January 27th. UBS Group raised their price target on shares of Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. 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. Royal Bank of Canada reiterated an “outperform” rating and set a $115.00 target price on shares of Starbucks in a report on Friday, January 24th. Finally, Wedbush boosted their price target on Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $106.12.

Starbucks Price Performance

NASDAQ:SBUX opened at $97.97 on Thursday. The firm has a market capitalization of $111.28 billion, a P/E ratio of 31.60, a PEG ratio of 3.59 and a beta of 0.99. Starbucks Co. has a one year low of $71.55 and a one year high of $117.46. The company’s 50-day simple moving average is $105.61 and its 200 day simple moving average is $99.47.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 EPS 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 period in the previous year, the company posted $0.90 EPS. On average, equities research analysts expect that Starbucks Co. will post 2.99 earnings per share for the current fiscal year.

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.