Flputnam Investment Management Co. Trims Holdings in Starbucks Co. (NASDAQ:SBUX)

Flputnam Investment Management Co. reduced its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 2.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,522 shares of the coffee company’s stock after selling 100 shares during the quarter. Flputnam Investment Management Co.’s holdings in Starbucks were worth $321,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Wellington Management Group LLP grew its stake in Starbucks by 100.6% in the 3rd quarter. Wellington Management Group LLP now owns 15,149,937 shares of the coffee company’s stock worth $1,476,967,000 after acquiring an additional 7,598,146 shares in the last quarter. FMR LLC grew its stake in Starbucks by 55.0% in the third quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock worth $1,928,339,000 after purchasing an additional 7,015,375 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in Starbucks by 1,491.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,808,571 shares of the coffee company’s stock worth $256,282,000 after purchasing an additional 2,632,087 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its position in Starbucks by 1,078.5% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,545,419 shares of the coffee company’s stock valued at $248,153,000 after purchasing an additional 2,329,431 shares in the last quarter. Finally, Zurich Insurance Group Ltd FI purchased a new stake in shares of Starbucks in the 3rd quarter worth $126,574,000. 72.29% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on SBUX shares. Redburn Atlantic restated a “sell” rating and issued a $77.00 price objective (down from $84.00) on shares of Starbucks in a report on Wednesday, November 13th. TD Cowen reaffirmed a “buy” rating and issued a $110.00 price target on shares of Starbucks in a research report on Monday, November 11th. UBS Group lifted their price objective on shares of Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $115.00 target price on shares of Starbucks in a research report on Friday, January 24th. Finally, Wedbush lifted their price target on Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $105.75.

Starbucks Stock Down 0.3 %

Shares of NASDAQ:SBUX opened at $115.41 on Tuesday. The business has a 50-day moving average price of $102.67 and a 200-day moving average price of $98.68. The stock has a market cap of $131.09 billion, a price-to-earnings ratio of 37.23, a PEG ratio of 3.59 and a beta of 1.00. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $117.46.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 quarter last year, the firm posted $0.90 earnings per share. As a group, equities analysts anticipate that Starbucks Co. will post 2.99 EPS for the current fiscal year.

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.