Clearbridge Investments LLC Purchases 91,841 Shares of Starbucks Co. (NASDAQ:SBUX)

Clearbridge Investments LLC lifted its position in shares of Starbucks Co. (NASDAQ:SBUX) by 2.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,760,722 shares of the coffee company’s stock after acquiring an additional 91,841 shares during the period. Clearbridge Investments LLC’s holdings in Starbucks were worth $434,416,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analyst Ratings Changes

Several brokerages have recently issued reports on SBUX. Barclays upped their price target on shares of Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Royal Bank of Canada reiterated an “outperform” rating and issued a $115.00 target price on shares of Starbucks in a research report on Friday, January 24th. Wedbush boosted their price target on Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Wells Fargo & Company raised their price objective on shares of Starbucks from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Tuesday, February 25th. Finally, BMO Capital Markets boosted their target price on shares of Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Starbucks has a consensus rating of “Moderate Buy” and an average price target of $106.12.

Starbucks Stock Performance

SBUX opened at $97.73 on Friday. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $117.46. The firm has a 50-day moving average of $105.75 and a 200 day moving average of $99.54. The firm has a market cap of $111.01 billion, a P/E ratio of 31.53, 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 earnings per share (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 last year, the company posted $0.90 earnings per share. Equities research analysts predict 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.