Lowe Brockenbrough & Co. Inc. Cuts Stock Position in Starbucks Co. (NASDAQ:SBUX)

Lowe Brockenbrough & Co. Inc. decreased its stake in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 10.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 28,768 shares of the coffee company's stock after selling 3,338 shares during the quarter. Lowe Brockenbrough & Co. Inc.'s holdings in Starbucks were worth $2,625,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. State Street Corp grew its position in shares of Starbucks by 1.0% during the third quarter. State Street Corp now owns 45,974,407 shares of the coffee company's stock valued at $4,482,045,000 after purchasing an additional 437,218 shares in the last quarter. Geode Capital Management LLC grew its holdings in Starbucks by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 24,277,756 shares of the coffee company's stock valued at $2,358,464,000 after buying an additional 333,004 shares in the last quarter. FMR LLC increased its stake in Starbucks by 55.0% in the 3rd quarter. FMR LLC now owns 19,779,859 shares of the coffee company's stock worth $1,928,339,000 after acquiring an additional 7,015,375 shares during the last quarter. Wellington Management Group LLP increased its stake in Starbucks by 100.6% in the 3rd quarter. Wellington Management Group LLP now owns 15,149,937 shares of the coffee company's stock worth $1,476,967,000 after acquiring an additional 7,598,146 shares during the last quarter. Finally, Fisher Asset Management LLC raised its holdings in shares of Starbucks by 1.3% during the 4th quarter. Fisher Asset Management LLC now owns 11,916,777 shares of the coffee company's stock worth $1,087,406,000 after acquiring an additional 154,093 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors.

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Starbucks Trading Up 0.2 %

Shares of Starbucks stock traded up $0.16 during trading on Tuesday, hitting $95.88. 6,978,613 shares of the stock traded hands, compared to its average volume of 10,606,525. The stock's fifty day simple moving average is $105.45 and its 200 day simple moving average is $99.44. The firm has a market cap of $108.91 billion, a P/E ratio of 30.93, a price-to-earnings-growth ratio of 3.59 and a beta of 0.99. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $117.46.

Starbucks (NASDAQ:SBUX - Get Free Report) last posted its earnings results on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, beating analysts' consensus estimates 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 in the prior year, the business posted $0.90 EPS. As a group, equities analysts expect that Starbucks Co. will post 2.99 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Barclays boosted their price target on shares of Starbucks from $119.00 to $124.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 29th. Stifel Nicolaus boosted their target price on shares of Starbucks from $110.00 to $114.00 and gave the stock a "buy" rating in a report on Monday, January 27th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $115.00 price target on shares of Starbucks in a report on Friday, January 24th. Argus raised Starbucks from a "hold" rating to a "buy" rating and set a $115.00 price objective on the stock in a research note on Tuesday, March 18th. Finally, UBS Group raised their price objective on Starbucks from $98.00 to $105.00 and gave the company a "neutral" rating in a research note on Wednesday, January 29th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $106.12.

Starbucks Profile

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.