Starbucks Co. (NASDAQ:SBUX) Stake Cut by 1ST Source Bank

1ST Source Bank reduced its holdings in Starbucks Co. (NASDAQ:SBUX) by 0.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,371 shares of the coffee company’s stock after selling 194 shares during the period. 1ST Source Bank’s holdings in Starbucks were worth $2,680,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SBUX. Wellington Management Group LLP raised its stake in shares of Starbucks by 100.6% during 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 purchasing an additional 7,598,146 shares in the last quarter. FMR LLC raised its stake in shares of Starbucks by 55.0% during the 3rd 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. Raymond James Financial Inc. purchased a new stake in shares of Starbucks during the 4th quarter worth about $284,283,000. Assenagon Asset Management S.A. raised its stake in shares of 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 in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of 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 worth $248,153,000 after purchasing an additional 2,329,431 shares in the last quarter. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Trading Up 2.2 %

Shares of NASDAQ:SBUX opened at $98.11 on Monday. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $117.46. The firm has a market capitalization of $111.44 billion, a PE ratio of 31.65, a PEG ratio of 3.59 and a beta of 0.99. The business’s 50 day moving average is $104.82 and its 200-day moving average is $99.25.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Tuesday, January 28th. The coffee company reported $0.69 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 in the prior year, the firm posted $0.90 earnings per share. On average, sell-side analysts predict that Starbucks Co. will post 2.99 EPS for the current year.

Wall Street Analysts Forecast Growth

SBUX has been the subject of a number of recent research reports. Wedbush raised their price target on Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Royal Bank of Canada reissued an “outperform” rating and issued a $115.00 price objective on shares of Starbucks in a research note on Friday, January 24th. Wells Fargo & Company raised their price objective on Starbucks from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Tuesday, February 25th. Stifel Nicolaus raised their price objective on Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Finally, BMO Capital Markets raised 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. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $105.75.

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.