LGT Fund Management Co Ltd. Lowers Holdings in Starbucks Co. (NASDAQ:SBUX)

LGT Fund Management Co Ltd. decreased its holdings in Starbucks Co. (NASDAQ:SBUX) by 61.6% in the 4th quarter, HoldingsChannel reports. The firm owned 2,821 shares of the coffee company’s stock after selling 4,521 shares during the quarter. LGT Fund Management Co Ltd.’s holdings in Starbucks were worth $257,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in SBUX. Wellington Management Group LLP boosted 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 valued at $1,476,967,000 after purchasing an additional 7,598,146 shares during the period. FMR LLC boosted its stake 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 period. Assenagon Asset Management S.A. boosted its stake in shares of Starbucks by 1,491.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,808,571 shares of the coffee company’s stock valued at $256,282,000 after purchasing an additional 2,632,087 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Starbucks by 1,078.5% in the third 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 during the period. Finally, Zurich Insurance Group Ltd FI purchased a new position in shares of Starbucks in the third quarter valued at approximately $126,574,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Stock Down 0.3 %

Shares of SBUX opened at $115.41 on Tuesday. The business’s 50 day moving average is $102.67 and its two-hundred day moving average is $98.68. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $117.46. The firm 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 (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, beating 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 posted $0.90 EPS. On average, equities analysts expect that Starbucks Co. will post 2.99 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SBUX has been the topic of several analyst reports. Stifel Nicolaus raised their target price on shares of Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a report on Monday, January 27th. Redburn Atlantic restated a “sell” rating and set a $77.00 target price (down from $84.00) on shares of Starbucks in a research report on Wednesday, November 13th. TD Cowen reiterated a “buy” rating and issued a $110.00 price objective 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 research report on Wednesday, January 29th. Finally, Wedbush boosted their target price on shares of Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $105.75.

About Starbucks

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.