Saratoga Research & Investment Management Sells 18,245 Shares of Starbucks Co. (NASDAQ:SBUX)

Saratoga Research & Investment Management lessened its holdings in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 3.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 530,477 shares of the coffee company's stock after selling 18,245 shares during the period. Starbucks comprises approximately 2.4% of Saratoga Research & Investment Management's holdings, making the stock its 18th largest holding. Saratoga Research & Investment Management's holdings in Starbucks were worth $48,406,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of SBUX. O Shaughnessy Asset Management LLC raised its holdings in shares of Starbucks by 10.5% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 108,991 shares of the coffee company's stock valued at $9,945,000 after acquiring an additional 10,342 shares in the last quarter. Clearbridge Investments LLC increased its position in Starbucks by 2.0% during the 4th quarter. Clearbridge Investments LLC now owns 4,760,722 shares of the coffee company's stock valued at $434,416,000 after purchasing an additional 91,841 shares during the period. Inkwell Capital LLC bought a new position in Starbucks in the 4th quarter worth $3,456,000. California Public Employees Retirement System lifted its position in shares of Starbucks by 16.4% in the 4th quarter. California Public Employees Retirement System now owns 1,801,396 shares of the coffee company's stock worth $164,377,000 after purchasing an additional 254,363 shares during the period. Finally, Summit Securities Group LLC purchased a new stake in shares of Starbucks in the 4th quarter worth about $135,000. Institutional investors own 72.29% of the company's stock.

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Analyst Ratings Changes

SBUX has been the subject of several research analyst reports. Stifel Nicolaus raised their price objective on shares of Starbucks from $110.00 to $114.00 and gave the stock a "buy" rating in a report on Monday, January 27th. UBS Group raised their target price on Starbucks from $98.00 to $105.00 and gave the company a "neutral" rating in a research note on Wednesday, January 29th. BMO Capital Markets upped their price target on Starbucks from $110.00 to $115.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 29th. Royal Bank of Canada reissued an "outperform" rating and set a $115.00 price objective on shares of Starbucks in a research report on Friday, January 24th. Finally, Wedbush upped their target price on shares of Starbucks from $95.00 to $100.00 and gave the stock a "neutral" 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 given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Starbucks currently has an average rating of "Moderate Buy" and a consensus price target of $106.12.

Starbucks Price Performance

Starbucks stock traded up $0.14 during midday trading on Tuesday, reaching $98.23. 5,864,791 shares of the company traded hands, compared to its average volume of 11,117,903. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $117.46. The business has a 50 day moving average of $105.81 and a two-hundred day moving average of $99.54. The firm has a market capitalization of $111.58 billion, a price-to-earnings ratio of 31.69, a price-to-earnings-growth ratio of 3.59 and a beta of 0.99.

Starbucks (NASDAQ:SBUX - Get Free Report) last released its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share 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 previous year, the business posted $0.90 EPS. As a group, equities analysts forecast that Starbucks Co. will post 2.99 EPS for the current 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.