Mitsubishi UFJ Trust & Banking Corp Lowers Stock Position in Starbucks Co. (NASDAQ:SBUX)

Mitsubishi UFJ Trust & Banking Corp cut its position in Starbucks Co. (NASDAQ:SBUX - Free Report) by 4.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 520,498 shares of the coffee company's stock after selling 24,338 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp's holdings in Starbucks were worth $47,495,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in SBUX. Financial Life Planners bought a new position in Starbucks during the 4th quarter worth $25,000. Collier Financial bought a new position in shares of Starbucks during the fourth quarter worth about $27,000. Runnymede Capital Advisors Inc. bought a new position in shares of Starbucks during the fourth quarter worth about $27,000. Marshall Investment Management LLC acquired a new position in shares of Starbucks in the fourth quarter worth approximately $30,000. Finally, Noble Wealth Management PBC bought a new stake in Starbucks in the fourth quarter valued at approximately $30,000. 72.29% of the stock is currently owned by institutional investors.

Starbucks Price Performance

Shares of SBUX traded down $1.12 during trading hours on Friday, hitting $97.73. The company's stock had a trading volume of 8,065,958 shares, compared to its average volume of 11,113,862. The company has a market cap 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 business has a 50 day simple moving average of $105.75 and a two-hundred day simple moving average of $99.54. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $117.46.

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Starbucks (NASDAQ:SBUX - Get Free Report) 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 negative return on equity of 44.97% and a net margin of 9.73%. During the same quarter in the prior year, the company earned $0.90 EPS. Research analysts predict that Starbucks Co. will post 2.99 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. BMO Capital Markets boosted their price target on shares of Starbucks from $110.00 to $115.00 and gave the stock an "outperform" rating in a research report on Wednesday, January 29th. Wells Fargo & Company boosted their price target on Starbucks from $115.00 to $125.00 and gave the company an "overweight" rating in a research note on Tuesday, February 25th. UBS Group raised their price objective on shares of Starbucks from $98.00 to $105.00 and gave the stock a "neutral" rating in a research report on Wednesday, January 29th. Argus upgraded shares of Starbucks from a "hold" rating to a "buy" rating and set a $115.00 target price on the stock in a research report on Tuesday, March 18th. Finally, Barclays lifted their price target on shares of Starbucks from $119.00 to $124.00 and gave the company an "overweight" rating in a research note on Wednesday, January 29th. Three equities 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Starbucks has a consensus rating of "Moderate Buy" and an average price target of $106.12.

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.