Truist Financial Corp Has $71.65 Million Stake in Starbucks Co. (NASDAQ:SBUX)

Truist Financial Corp trimmed its stake in Starbucks Co. (NASDAQ:SBUX - Free Report) by 3.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 785,216 shares of the coffee company's stock after selling 30,407 shares during the quarter. Truist Financial Corp owned 0.07% of Starbucks worth $71,651,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Financial Life Planners purchased a new stake in Starbucks in the 4th quarter worth approximately $25,000. Collier Financial acquired a new position in shares of Starbucks in the fourth quarter worth $27,000. DT Investment Partners LLC raised its holdings in shares of Starbucks by 39.4% during the third quarter. DT Investment Partners LLC now owns 428 shares of the coffee company's stock worth $42,000 after acquiring an additional 121 shares in the last quarter. FSA Wealth Management LLC acquired a new stake in Starbucks during the third quarter valued at $49,000. Finally, Hager Investment Management Services LLC bought a new stake in shares of Starbucks in the 4th quarter valued at approximately $56,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Price Performance

Shares of SBUX traded down $1.59 during mid-day trading on Friday, reaching $111.75. The company had a trading volume of 9,661,850 shares, compared to its average volume of 9,790,830. The company has a market capitalization of $126.94 billion, a P/E ratio of 36.05, a P/E/G ratio of 3.56 and a beta of 1.00. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $114.68. The company's 50-day moving average is $99.72 and its 200-day moving average is $97.15.

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, topping 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 last year, the company earned $0.90 earnings per share. As a group, equities analysts expect that Starbucks Co. will post 2.99 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on SBUX shares. BMO Capital Markets increased their target price on shares of Starbucks from $110.00 to $115.00 and gave the stock an "outperform" rating in a research 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 research note on Wednesday, January 29th. Citigroup upped their target price on Starbucks from $96.00 to $99.00 and gave the stock a "neutral" rating in a research report on Thursday, October 31st. Wells Fargo & Company lifted their price target on shares of Starbucks from $110.00 to $115.00 and gave the company an "overweight" rating in a research report on Tuesday, November 26th. Finally, TD Cowen reaffirmed a "buy" rating and set a $110.00 price objective on shares of Starbucks in a report on Monday, November 11th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Starbucks has a consensus rating of "Moderate Buy" and an average target price of $105.33.

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.