Alliancebernstein L.P. Has $265.69 Million Stake in Starbucks Co. (NASDAQ:SBUX)

Alliancebernstein L.P. reduced its holdings in Starbucks Co. (NASDAQ:SBUX) by 47.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,911,687 shares of the coffee company’s stock after selling 2,604,401 shares during the quarter. Alliancebernstein L.P. owned approximately 0.26% of Starbucks worth $265,691,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of SBUX. Financial Life Planners bought a new stake in shares of Starbucks during the fourth quarter worth $25,000. Graney & King LLC bought a new stake in Starbucks during the 4th quarter worth about $26,000. Collier Financial acquired a new stake in Starbucks in the 4th quarter valued at about $27,000. Runnymede Capital Advisors Inc. bought a new position in shares of Starbucks in the fourth quarter worth about $27,000. Finally, Marshall Investment Management LLC acquired a new position in shares of Starbucks during the fourth quarter worth approximately $30,000. 72.29% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on SBUX shares. UBS Group raised their price target on shares of Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Wedbush boosted their target price on Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Argus upgraded Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price target on the stock in a report on Tuesday, March 18th. Wells Fargo & Company boosted their price objective on Starbucks from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Tuesday, February 25th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $115.00 target price on shares of Starbucks in a research note on Friday, January 24th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $106.12.

Starbucks Price Performance

SBUX opened at $98.09 on Tuesday. The company has a market capitalization of $111.42 billion, a price-to-earnings ratio of 31.64, a P/E/G ratio of 3.59 and a beta of 0.99. The business’s 50-day moving average price is $105.81 and its two-hundred day moving average price is $99.54. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $117.46.

Starbucks (NASDAQ:SBUX) last released its earnings results on Tuesday, January 28th. The coffee company reported $0.69 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 period in the previous year, the business posted $0.90 EPS. Sell-side analysts anticipate that Starbucks Co. will post 2.99 earnings per share for the current fiscal year.

Starbucks Company 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.