Trillium Asset Management LLC Cuts Holdings in Starbucks Co. (NASDAQ:SBUX)

Trillium Asset Management LLC cut its position in shares of Starbucks Co. (NASDAQ:SBUX) by 6.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 235,441 shares of the coffee company’s stock after selling 15,289 shares during the quarter. Trillium Asset Management LLC’s holdings in Starbucks were worth $21,484,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Strategic Financial Concepts LLC purchased a new position in Starbucks during the fourth quarter worth about $62,000. Arizona State Retirement System boosted its stake in Starbucks by 0.8% in the fourth quarter. Arizona State Retirement System now owns 327,459 shares of the coffee company’s stock valued at $29,881,000 after acquiring an additional 2,722 shares during the last quarter. West Michigan Advisors LLC purchased a new position in Starbucks in the fourth quarter valued at about $265,000. Wernau Asset Management Inc. purchased a new position in Starbucks in the fourth quarter valued at about $258,000. Finally, Investment Management Corp of Ontario boosted its stake in Starbucks by 48.6% in the third quarter. Investment Management Corp of Ontario now owns 37,584 shares of the coffee company’s stock valued at $3,664,000 after acquiring an additional 12,300 shares during the last quarter. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. 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 research note on Tuesday. Stifel Nicolaus boosted their target price on shares of Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Royal Bank of Canada reiterated an “outperform” rating and issued a $115.00 target price on shares of Starbucks in a research note on Friday, January 24th. Wedbush boosted their target price on shares of Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Finally, BMO Capital Markets boosted their price target on shares of Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Three 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 company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $106.12.

Starbucks Price Performance

Shares of NASDAQ:SBUX opened at $98.28 on Wednesday. The company’s fifty day moving average price is $105.05 and its 200-day moving average price is $99.30. The firm has a market capitalization of $111.64 billion, a price-to-earnings ratio of 31.70, a PEG ratio of 3.59 and a beta of 0.99. Starbucks Co. has a one year low of $71.55 and a one year high of $117.46.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 EPS 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 period last year, the business posted $0.90 EPS. As a group, equities research 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.