Prudential Financial Inc. Sells 121,098 Shares of Starbucks Co. (NASDAQ:SBUX)

Prudential Financial Inc. cut its holdings in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 17.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 590,024 shares of the coffee company's stock after selling 121,098 shares during the period. Prudential Financial Inc. owned 0.05% of Starbucks worth $53,840,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SBUX. Vanguard Group Inc. grew its position in shares of Starbucks by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 111,106,209 shares of the coffee company's stock worth $10,138,442,000 after buying an additional 784,432 shares during the period. State Street Corp lifted its stake in Starbucks by 1.0% during the 3rd quarter. State Street Corp now owns 45,974,407 shares of the coffee company's stock valued at $4,482,045,000 after acquiring an additional 437,218 shares during the period. Geode Capital Management LLC boosted its holdings in Starbucks by 1.4% in 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 during the last quarter. FMR LLC boosted its stake in shares of 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 buying an additional 7,015,375 shares during the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of Starbucks by 100.6% in the third 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 period. Institutional investors own 72.29% of the company's stock.

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Analysts Set New Price Targets

SBUX has been the topic of several research reports. Stifel Nicolaus raised their target price on Starbucks from $110.00 to $114.00 and gave the stock a "buy" rating in a research report on Monday, January 27th. UBS Group boosted their target price on shares of Starbucks from $98.00 to $105.00 and gave the company a "neutral" rating in a research report on Wednesday, January 29th. Royal Bank of Canada reiterated an "outperform" rating and issued a $115.00 price target on shares of Starbucks in a research report on Friday, January 24th. Argus upgraded Starbucks from a "hold" rating to a "buy" rating and set a $115.00 price objective for the company in a research note on Tuesday, March 18th. Finally, Barclays lifted their target price on Starbucks from $119.00 to $124.00 and gave the company an "overweight" rating in a research report on Wednesday, January 29th. Three investment 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 company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $106.12.

Starbucks Stock Down 1.6 %

SBUX traded down $1.55 during trading hours on Friday, reaching $97.30. 3,086,627 shares of the company's stock traded hands, compared to its average volume of 11,077,558. The firm has a 50-day moving average price of $105.69 and a 200 day moving average price of $99.46. The firm has a market capitalization of $110.52 billion, a PE ratio of 31.37, a PEG 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 released its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate 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 period in the previous year, the business posted $0.90 earnings per share. Equities analysts predict that Starbucks Co. will post 2.99 EPS for the current fiscal year.

Starbucks Company 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.