EP Wealth Advisors LLC, an institutional investor, has increased its stake in Starbucks Co. (NASDAQ:SBUX) by 2.0% during the fourth quarter, according to a recent 13F filing with the SEC. The company now owns 594,041 shares of Starbucks stock, an increase of 11,930 shares. Other institutional investors and hedge funds have also made changes to their positions in the company.
Starbucks Co. reported earnings of $0.68 per share for the quarter, falling short of analysts' consensus estimates of $0.79. The company's revenue for the quarter was $8.56 billion, compared to analyst estimates of $9.12 billion. Starbucks Co. has a market capitalization of $90.22 billion, a PE ratio of 21.94, and a beta of 0.96. The stock has a 1-year low of $71.80 and a 1-year high of $107.66. Analysts expect Starbucks Co. to post earnings per share of 3.59 for the current year.
Several research analysts have recently commented on SBUX shares, with the stock currently having a consensus rating of 'Hold' and a consensus price target of $95.00.
Morningstar released a list of ten stocks fund managers have been buying lately. The top three picks are Realty Income Co. (NYSE: O), Starbucks Co. (NASDAQ: SBUX), and Boeing Co. (NYSE: BA). Realty Income is a real estate investment trust (REIT) that offers reliable dividends, with a payout of $3.15 per share translating to an annual yield of nearly 6%. Analysts at KeyCorp may push their price targets on Realty Income stock up to $61 a share. Starbucks shares have traded down to 74% of their 52-week highs, but analysts at Goldman Sachs and Bank of America have set price targets of $100 and $112, respectively. Boeing's stock could rally by 37% from its current level, according to analysts at UBS Group who value it at $240. The company's total backlog value grew to over $529 billion, driven by 5,600 commercial airplanes. Federal Reserve interest rate cuts and recovering consumer sentiment could boost Boeing's prospects. [2a01d3e4] [5e7ee0b4]