Sandy Spring Bank Sells 6,186 Shares of Starbucks Co. (NASDAQ:SBUX)

Sandy Spring Bank lessened its stake in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 19.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 26,278 shares of the coffee company's stock after selling 6,186 shares during the quarter. Sandy Spring Bank's holdings in Starbucks were worth $2,398,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. State Street Corp raised its holdings 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 period. Geode Capital Management LLC boosted its holdings in Starbucks by 1.4% during the third quarter. Geode Capital Management LLC now owns 24,277,756 shares of the coffee company's stock valued at $2,358,464,000 after acquiring an additional 333,004 shares during the period. FMR LLC grew 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 valued at $1,928,339,000 after purchasing an additional 7,015,375 shares during the last quarter. Wellington Management Group LLP increased its stake 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 purchasing an additional 7,598,146 shares during the period. Finally, Fisher Asset Management LLC lifted its position in shares of Starbucks by 1.3% during the 4th quarter. Fisher Asset Management LLC now owns 11,916,777 shares of the coffee company's stock worth $1,087,406,000 after purchasing an additional 154,093 shares during the last quarter. Institutional investors and hedge funds own 72.29% of the company's stock.

Remove Ads

Starbucks Price Performance

Shares of SBUX traded up $0.16 during mid-day trading on Tuesday, hitting $95.88. 6,978,613 shares of the company's stock were exchanged, compared to its average volume of 10,606,525. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $117.46. The company has a market cap of $108.91 billion, a PE ratio of 30.93, a P/E/G ratio of 3.59 and a beta of 0.99. The company has a 50-day simple moving average of $105.45 and a 200 day simple moving average of $99.44.

Starbucks (NASDAQ:SBUX - Get Free Report) last issued its quarterly earnings results 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 last year, the company posted $0.90 EPS. On average, analysts anticipate that Starbucks Co. will post 2.99 earnings per share for the current year.

Wall Street Analyst Weigh In

SBUX has been the topic of several recent analyst reports. Wedbush lifted their price target on Starbucks from $95.00 to $100.00 and gave the stock a "neutral" rating in a research report on Wednesday, January 29th. BMO Capital Markets raised their price objective on shares of Starbucks from $110.00 to $115.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 29th. UBS Group upped their target price on shares of Starbucks from $98.00 to $105.00 and gave the company a "neutral" rating in a research note on Wednesday, January 29th. Stifel Nicolaus raised their price target on shares of Starbucks from $110.00 to $114.00 and gave the stock a "buy" rating in a research report on Monday, January 27th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $115.00 price objective on shares of Starbucks in a research report on Friday, January 24th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Starbucks presently has a consensus rating of "Moderate Buy" and a consensus target price of $106.12.

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.