Ballast Advisors LLC Sells 177 Shares of Starbucks Co. (NASDAQ:SBUX)

Ballast Advisors LLC lessened its stake in Starbucks Co. (NASDAQ:SBUX) by 4.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,021 shares of the coffee company’s stock after selling 177 shares during the period. Ballast Advisors LLC’s holdings in Starbucks were worth $367,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Wellington Management Group LLP boosted its stake in 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 acquiring an additional 7,598,146 shares in the last quarter. FMR LLC lifted its holdings 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 valued at $1,928,339,000 after purchasing an additional 7,015,375 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Starbucks in the 4th quarter worth $284,283,000. Assenagon Asset Management S.A. grew its stake 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 buying an additional 2,632,087 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund increased 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 buying an additional 2,329,431 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Argus upgraded Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price target on the stock in a research note on Tuesday. UBS Group boosted their target price on shares of Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $115.00 price target on shares of Starbucks in a report on Friday, January 24th. Stifel Nicolaus boosted their price objective on shares of Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a report on Monday, January 27th. Finally, BMO Capital Markets raised their target price on Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $106.12.

Starbucks Price Performance

Shares of SBUX stock opened at $99.28 on Friday. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $117.46. The company has a market cap of $112.77 billion, a price-to-earnings ratio of 32.03, a PEG ratio of 3.59 and a beta of 0.99. The stock has a 50 day simple moving average of $105.31 and a 200-day simple moving average of $99.30.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 earnings per share 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 in the previous year, the firm earned $0.90 earnings per share. Analysts anticipate that Starbucks Co. will post 2.99 earnings per share 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.