Prudential Financial Inc. Has $53.84 Million Position in Starbucks Co. (NASDAQ:SBUX)

Prudential Financial Inc. lessened its position in Starbucks Co. (NASDAQ:SBUX) by 17.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 590,024 shares of the coffee company’s stock after selling 121,098 shares during the quarter. Prudential Financial Inc. owned approximately 0.05% of Starbucks worth $53,840,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. Financial Life Planners bought a new stake in shares of Starbucks in the fourth quarter worth $25,000. Collier Financial acquired a new stake in Starbucks in the 4th quarter valued at $27,000. Runnymede Capital Advisors Inc. bought a new stake in Starbucks during the 4th quarter worth about $27,000. Marshall Investment Management LLC acquired a new position in shares of Starbucks during the 4th quarter worth about $30,000. Finally, Noble Wealth Management PBC bought a new position in shares of Starbucks in the 4th quarter valued at about $30,000. Institutional investors own 72.29% of the company’s stock.

Analysts Set New Price Targets

SBUX has been the topic of several analyst reports. Royal Bank of Canada reiterated an “outperform” rating and set a $115.00 target price on shares of Starbucks in a report on Friday, January 24th. BMO Capital Markets increased their price objective on Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. Argus upgraded shares of Starbucks from a “hold” rating to a “buy” rating and set a $115.00 target price on the stock in a report on Tuesday, March 18th. Stifel Nicolaus upped their price target on shares of Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Finally, 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. 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.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $106.12.

Starbucks Price Performance

Shares of NASDAQ SBUX opened at $95.72 on Tuesday. The business has a fifty day moving average price of $105.45 and a two-hundred day moving average price of $99.44. The stock has a market capitalization of $108.73 billion, a PE ratio of 30.88, a P/E/G ratio of 3.59 and a beta of 0.99. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $117.46.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, beating 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 prior year, the firm earned $0.90 earnings per share. On average, equities analysts expect that Starbucks Co. will post 2.99 EPS for the current 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.