Erste Asset Management GmbH reduced its stake in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 14.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 485,150 shares of the coffee company's stock after selling 80,000 shares during the period. Erste Asset Management GmbH's holdings in Starbucks were worth $43,771,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in SBUX. Assetmark Inc. grew its position in Starbucks by 5.8% during the third quarter. Assetmark Inc. now owns 35,347 shares of the coffee company's stock valued at $3,446,000 after purchasing an additional 1,940 shares in the last quarter. First National Trust Co boosted its holdings in shares of Starbucks by 11.7% during the 3rd quarter. First National Trust Co now owns 5,356 shares of the coffee company's stock worth $522,000 after buying an additional 561 shares during the period. WealthPlan Investment Management LLC boosted its holdings in Starbucks by 26.2% in the 3rd quarter. WealthPlan Investment Management LLC now owns 6,567 shares of the coffee company's stock valued at $640,000 after purchasing an additional 1,365 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Starbucks by 1.6% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,640,092 shares of the coffee company's stock valued at $257,383,000 after purchasing an additional 41,389 shares during the period. Finally, Aptus Capital Advisors LLC boosted its holdings in Starbucks by 6.7% in the 3rd quarter. Aptus Capital Advisors LLC now owns 13,185 shares of the coffee company's stock valued at $1,285,000 after purchasing an additional 833 shares during the period. 72.29% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of research firms have recently commented on SBUX. Wells Fargo & Company raised their price objective on shares of Starbucks from $115.00 to $125.00 and gave the stock an "overweight" rating in a report on Tuesday, February 25th. Stifel Nicolaus raised their price objective on shares of Starbucks from $110.00 to $114.00 and gave the company a "buy" rating in a research report on Monday, January 27th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $115.00 target price on shares of Starbucks in a research note on Friday, January 24th. BMO Capital Markets raised their target price on shares of Starbucks from $110.00 to $115.00 and gave the company an "outperform" rating in a research note on Wednesday, January 29th. Finally, Barclays lifted their price objective on shares of Starbucks from $119.00 to $124.00 and gave the stock an "overweight" 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, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $105.75.
Read Our Latest Stock Analysis on Starbucks
Starbucks Price Performance
NASDAQ:SBUX opened at $98.69 on Thursday. The business has a 50 day moving average of $104.63 and a 200 day moving average of $99.22. The company has a market capitalization of $112.10 billion, a price-to-earnings ratio of 31.84, a PEG ratio of 3.59 and a beta of 0.99. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $117.46.
Starbucks (NASDAQ:SBUX - Get Free Report) last released its earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, topping analysts' consensus estimates 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 period in the prior year, the business posted $0.90 earnings per share. As a group, sell-side analysts anticipate that Starbucks Co. will post 2.99 EPS for the current year.
About Starbucks
(
Free Report)
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.
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