Donaldson Capital Management LLC reduced its position in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 13.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,685 shares of the coffee company's stock after selling 2,857 shares during the period. Donaldson Capital Management LLC's holdings in Starbucks were worth $1,705,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Founders Financial Alliance LLC increased its position in Starbucks by 2.6% during the 4th quarter. Founders Financial Alliance LLC now owns 10,629 shares of the coffee company's stock valued at $970,000 after purchasing an additional 268 shares during the period. Wallace Hart LLC increased its position in shares of Starbucks by 19.5% during the fourth quarter. Wallace Hart LLC now owns 3,189 shares of the coffee company's stock valued at $291,000 after buying an additional 520 shares during the period. Cornerstone Advisors LLC raised its stake in Starbucks by 1.7% in the fourth quarter. Cornerstone Advisors LLC now owns 48,700 shares of the coffee company's stock worth $4,444,000 after buying an additional 800 shares in the last quarter. Citizens Financial Group Inc. RI lifted its holdings in Starbucks by 44.3% in the fourth quarter. Citizens Financial Group Inc. RI now owns 29,475 shares of the coffee company's stock worth $2,690,000 after buying an additional 9,047 shares during the period. Finally, Sage Mountain Advisors LLC boosted its position in Starbucks by 2.9% during the 4th quarter. Sage Mountain Advisors LLC now owns 9,413 shares of the coffee company's stock valued at $859,000 after acquiring an additional 261 shares in the last quarter. 72.29% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several research analysts have recently issued reports on the company. UBS Group increased their target price on Starbucks from $98.00 to $105.00 and gave the stock a "neutral" rating in a research report on Wednesday, January 29th. Wedbush boosted their price target on Starbucks from $95.00 to $100.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 29th. Redburn Atlantic reiterated a "sell" rating and set a $77.00 price objective (down previously from $84.00) on shares of Starbucks in a research report on Wednesday, November 13th. Wells Fargo & Company raised their price objective on Starbucks from $115.00 to $125.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 25th. Finally, BMO Capital Markets lifted their target price on Starbucks from $110.00 to $115.00 and gave the company an "outperform" rating in a research note on Wednesday, January 29th. Three research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $105.75.
Check Out Our Latest Stock Analysis on SBUX
Starbucks Price Performance
Shares of SBUX traded down $1.04 during mid-day trading on Wednesday, hitting $98.54. The company's stock had a trading volume of 6,082,084 shares, compared to its average volume of 10,609,718. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $117.46. The stock has a market capitalization of $111.93 billion, a price-to-earnings ratio of 31.80, a PEG ratio of 3.59 and a beta of 0.99. The firm has a 50-day moving average price of $104.48 and a 200 day moving average price of $99.23.
Starbucks (NASDAQ:SBUX - Get Free Report) last announced its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, beating the consensus estimate 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 quarter in the prior year, the firm earned $0.90 EPS. As a group, equities analysts anticipate that Starbucks Co. will post 2.99 EPS for the current fiscal year.
Starbucks Profile
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Free Report)
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.
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