OVERSEA CHINESE BANKING Corp Ltd Lowers Stake in Starbucks Co. (NASDAQ:SBUX)

OVERSEA CHINESE BANKING Corp Ltd reduced its position in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 51.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,271 shares of the coffee company's stock after selling 29,655 shares during the period. OVERSEA CHINESE BANKING Corp Ltd's holdings in Starbucks were worth $2,608,000 at the end of the most recent quarter.

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

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Analyst Ratings Changes

SBUX has been the topic of a number of research analyst reports. Wells Fargo & Company increased their price target on shares of Starbucks from $115.00 to $125.00 and gave the stock an "overweight" rating in a report on Tuesday, February 25th. UBS Group raised their price target on Starbucks from $98.00 to $105.00 and gave the company a "neutral" rating in a research report on Wednesday, January 29th. Wedbush upped their price objective on Starbucks from $95.00 to $100.00 and gave the stock a "neutral" rating in a report on Wednesday, January 29th. Barclays raised their price objective on Starbucks from $119.00 to $124.00 and gave the company an "overweight" rating in a report on Wednesday, January 29th. Finally, BMO Capital Markets upped their target price on Starbucks from $110.00 to $115.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 29th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $106.12.

Starbucks Price Performance

NASDAQ:SBUX traded down $1.35 during trading hours on Monday, hitting $95.72. The company had a trading volume of 8,258,116 shares, compared to its average volume of 10,607,232. The stock has a 50-day moving average price of $105.41 and a 200 day moving average price of $99.41. The company has a market capitalization of $108.73 billion, a PE ratio of 30.88, 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 announced its earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share 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 last year, the business posted $0.90 EPS. Analysts anticipate that Starbucks Co. will post 2.99 EPS for the current fiscal year.

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.