Starbucks Co. (NASDAQ:SBUX) Shares Sold by MV Capital Management Inc.

MV Capital Management Inc. reduced its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 7.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,052 shares of the coffee company’s stock after selling 165 shares during the quarter. MV Capital Management Inc.’s holdings in Starbucks were worth $187,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SBUX. Norges Bank purchased a new position in Starbucks during the 4th quarter worth $1,244,812,000. Wellington Management Group LLP lifted its position in shares of Starbucks by 100.6% during the 3rd 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 during the period. Raymond James Financial Inc. purchased a new stake in Starbucks during the fourth quarter worth $284,283,000. Assenagon Asset Management S.A. grew its stake in Starbucks by 1,491.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 2,808,571 shares of the coffee company’s stock valued at $256,282,000 after acquiring an additional 2,632,087 shares during the last quarter. Finally, Zurich Insurance Group Ltd FI purchased a new position in shares of Starbucks during the 3rd quarter worth approximately $126,574,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on SBUX shares. 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. UBS Group increased their target price on 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 restated an “outperform” rating and issued a $115.00 target price on shares of Starbucks in a report on Friday, January 24th. Stifel Nicolaus boosted their target price on Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Finally, Wedbush raised their price target on shares of Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Starbucks currently has a consensus rating of “Moderate Buy” and an average price target of $106.12.

Starbucks Trading Down 1.1 %

SBUX stock opened at $97.73 on Friday. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $117.46. The company has a market capitalization of $111.01 billion, a price-to-earnings ratio of 31.53, a price-to-earnings-growth ratio of 3.59 and a beta of 0.99. The firm’s 50-day moving average is $105.75 and its two-hundred day moving average is $99.50.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data 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 negative return on equity of 44.97% and a net margin of 9.73%. During the same period in the prior year, the firm posted $0.90 EPS. On average, equities research analysts predict that Starbucks Co. will post 2.99 earnings per share for the current year.

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.