TD Asset Management Inc. Lowers Stake in Starbucks Co. (NASDAQ:SBUX)

TD Asset Management Inc. decreased its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 4.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,085,027 shares of the coffee company’s stock after selling 103,770 shares during the quarter. TD Asset Management Inc.’s holdings in Starbucks were worth $190,259,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in SBUX. Strategic Financial Concepts LLC bought a new stake in shares of Starbucks during the fourth quarter valued at approximately $62,000. Arizona State Retirement System raised its position in Starbucks by 0.8% during the 4th quarter. Arizona State Retirement System now owns 327,459 shares of the coffee company’s stock valued at $29,881,000 after purchasing an additional 2,722 shares in the last quarter. West Michigan Advisors LLC purchased a new stake in shares of Starbucks in the 4th quarter worth $265,000. Wernau Asset Management Inc. bought a new position in shares of Starbucks during the 4th quarter worth $258,000. Finally, Investment Management Corp of Ontario increased its stake in shares of Starbucks by 48.6% during 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 buying an additional 12,300 shares during the period. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Price Performance

NASDAQ:SBUX opened at $95.88 on Wednesday. The company’s fifty day moving average price is $105.51 and its 200-day moving average price is $99.48. 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 $108.91 billion, a P/E ratio of 30.93, a PEG ratio of 3.59 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share 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 company posted $0.90 EPS. Equities analysts anticipate that Starbucks Co. will post 2.99 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have issued reports on SBUX. 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 shares of Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Wedbush boosted their price objective on shares of Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Barclays upped their target price on Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Finally, Wells Fargo & Company boosted their price target on Starbucks from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 25th. Three 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 issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $106.12.

About Starbucks

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.