Picton Mahoney Asset Management Takes Position in Starbucks Co. (NASDAQ:SBUX)

Picton Mahoney Asset Management bought a new position in Starbucks Co. (NASDAQ:SBUX) during the 4th quarter, Holdings Channel reports. The institutional investor bought 2,480 shares of the coffee company’s stock, valued at approximately $226,000.

A number of other hedge funds have also added to or reduced their stakes in SBUX. Financial Life Planners bought a new stake in shares of Starbucks in the fourth quarter worth $25,000. Collier Financial purchased a new position in Starbucks in the fourth quarter worth about $27,000. Marshall Investment Management LLC bought a new stake in shares of Starbucks during the 4th quarter valued at about $30,000. Noble Wealth Management PBC purchased a new stake in shares of Starbucks during the 4th quarter valued at about $30,000. Finally, Centricity Wealth Management LLC bought a new position in shares of Starbucks in the 4th quarter worth approximately $36,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SBUX has been the subject of a number of research reports. Wells Fargo & Company upped their target price on shares of Starbucks from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Tuesday, February 25th. Wedbush raised their target price on Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. UBS Group boosted their price target on Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $115.00 price objective on shares of Starbucks in a research note on Friday, January 24th. Finally, Stifel Nicolaus boosted 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. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $105.75.

Starbucks Trading Up 2.2 %

Shares of NASDAQ:SBUX opened at $98.11 on Monday. The company has a market cap of $111.44 billion, a price-to-earnings ratio of 31.65, a PEG ratio of 3.59 and a beta of 0.99. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $117.46. The company has a 50-day moving average price of $104.82 and a 200 day moving average price of $99.25.

Starbucks (NASDAQ:SBUX) last announced its 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 business posted $0.90 earnings per share. As a group, equities analysts forecast that Starbucks Co. will post 2.99 EPS for the current 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.