Vinva Investment Management Ltd lessened its holdings in Starbucks Co. (NASDAQ:SBUX - Free Report) by 29.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 24,110 shares of the coffee company's stock after selling 10,085 shares during the period. Vinva Investment Management Ltd's holdings in Starbucks were worth $2,184,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also added to or reduced their stakes in the business. Wintrust Investments LLC raised its stake in Starbucks by 7.1% in the fourth quarter. Wintrust Investments LLC now owns 1,411 shares of the coffee company's stock valued at $128,000 after purchasing an additional 94 shares in the last quarter. Kuhn & Co Investment Counsel grew its position in Starbucks by 2.3% in the fourth quarter. Kuhn & Co Investment Counsel now owns 4,240 shares of the coffee company's stock worth $387,000 after acquiring an additional 96 shares in the last quarter. Wellington Shields & Co. LLC increased its stake in Starbucks by 8.6% in the fourth quarter. Wellington Shields & Co. LLC now owns 1,265 shares of the coffee company's stock valued at $115,000 after acquiring an additional 100 shares during the last quarter. Mystic Asset Management Inc. raised its position in Starbucks by 3.9% during the fourth quarter. Mystic Asset Management Inc. now owns 2,665 shares of the coffee company's stock valued at $243,000 after purchasing an additional 101 shares in the last quarter. Finally, Jmac Enterprises LLC lifted its stake in Starbucks by 1.0% during the fourth quarter. Jmac Enterprises LLC now owns 9,995 shares of the coffee company's stock worth $912,000 after purchasing an additional 103 shares during the last quarter. Institutional investors and hedge funds own 72.29% of the company's stock.
Starbucks Price Performance
NASDAQ: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. 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. Starbucks Co. has a one year low of $71.55 and a one year high of $117.46. The business has a fifty day moving average price of $105.45 and a 200 day moving average price 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 EPS 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 previous year, the company posted $0.90 EPS. On average, equities analysts forecast that Starbucks Co. will post 2.99 EPS for the current fiscal year.
Wall Street Analyst Weigh In
SBUX has been the topic of a number of recent research reports. Royal Bank of Canada reaffirmed an "outperform" rating and set a $115.00 price objective on shares of Starbucks in a research note on Friday, January 24th. Wells Fargo & Company lifted their price target on Starbucks from $115.00 to $125.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 25th. BMO Capital Markets increased their price objective on Starbucks from $110.00 to $115.00 and gave the company an "outperform" rating in a research note on Wednesday, January 29th. Argus upgraded shares of Starbucks from a "hold" rating to a "buy" rating and set a $115.00 price target for the company in a report on Tuesday, March 18th. Finally, Wedbush raised their price target on shares of Starbucks from $95.00 to $100.00 and gave the stock a "neutral" rating in a report on Wednesday, January 29th. Three research analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $106.12.
Get Our Latest Analysis on Starbucks
Starbucks Company Profile
(
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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