Allianz SE Purchases New Stake in Starbucks Co. (NASDAQ:SBUX)

Allianz SE acquired a new position in shares of Starbucks Co. (NASDAQ:SBUX) in the 4th quarter, Holdings Channel.com reports. The firm acquired 4,470 shares of the coffee company’s stock, valued at approximately $406,000.

Several other hedge funds have also added to or reduced their stakes in the company. Intrust Bank NA lifted its holdings in shares of Starbucks by 1.1% in the fourth quarter. Intrust Bank NA now owns 17,084 shares of the coffee company’s stock worth $1,559,000 after acquiring an additional 185 shares during the last quarter. Biondo Investment Advisors LLC raised its holdings in Starbucks by 1.5% during the 4th quarter. Biondo Investment Advisors LLC now owns 60,740 shares of the coffee company’s stock worth $5,543,000 after purchasing an additional 870 shares during the last quarter. Allstate Corp acquired a new position in Starbucks in the fourth quarter valued at $3,069,000. RiverFront Investment Group LLC lifted its stake in shares of Starbucks by 9.0% in the 4th quarter. RiverFront Investment Group LLC now owns 5,319 shares of the coffee company’s stock valued at $485,000 after purchasing an additional 440 shares during the period. Finally, DnB Asset Management AS boosted its holdings in shares of Starbucks by 6.1% during the 4th quarter. DnB Asset Management AS now owns 205,456 shares of the coffee company’s stock worth $18,748,000 after buying an additional 11,822 shares in the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Starbucks Trading Down 1.1 %

Shares of Starbucks stock opened at $97.73 on Monday. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $117.46. The firm has a market capitalization of $111.01 billion, a price-to-earnings ratio of 31.53, a PEG ratio of 3.59 and a beta of 0.99. The firm’s 50 day simple moving average is $105.75 and its two-hundred day simple moving average is $99.55.

Starbucks (NASDAQ:SBUX) last posted its 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 EPS. On average, sell-side analysts predict that Starbucks Co. will post 2.99 EPS 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.