Charles Schwab Investment Management Inc. Lowers Holdings in Starbucks Co. (NASDAQ:SBUX)

Charles Schwab Investment Management Inc. decreased its holdings in Starbucks Co. (NASDAQ:SBUX) by 7.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,879,747 shares of the coffee company’s stock after selling 720,211 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Starbucks were worth $810,277,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in SBUX. Strategic Financial Concepts LLC purchased a new position in Starbucks in the fourth quarter worth approximately $62,000. Weil Company Inc. raised its holdings in Starbucks by 31.2% during the third quarter. Weil Company Inc. now owns 34,580 shares of the coffee company’s stock worth $3,371,000 after purchasing an additional 8,222 shares in the last quarter. West Michigan Advisors LLC acquired a new stake in Starbucks during the fourth quarter worth approximately $265,000. Maia Wealth LLC raised its holdings in Starbucks by 69.1% during the third quarter. Maia Wealth LLC now owns 18,582 shares of the coffee company’s stock worth $1,805,000 after purchasing an additional 7,596 shares in the last quarter. Finally, Investment Management Corp of Ontario raised its holdings in Starbucks by 48.6% during the third quarter. Investment Management Corp of Ontario now owns 37,584 shares of the coffee company’s stock worth $3,664,000 after purchasing an additional 12,300 shares in the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Analyst Ratings Changes

SBUX has been the topic of a number of research analyst reports. Stifel Nicolaus raised their price objective on shares of Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a report on Monday, January 27th. UBS Group raised their price objective on shares of Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Wells Fargo & Company lifted their target price on shares of Starbucks from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Tuesday, February 25th. Redburn Atlantic reaffirmed a “sell” rating and issued a $77.00 target price (down from $84.00) on shares of Starbucks in a report on Wednesday, November 13th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $115.00 target price on shares of Starbucks in a report on Friday, January 24th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Starbucks has a consensus rating of “Moderate Buy” and an average price target of $105.75.

Starbucks Price Performance

SBUX opened at $115.41 on Tuesday. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $117.46. The business has a 50-day moving average of $102.67 and a 200-day moving average of $98.68. The company has a market capitalization of $131.09 billion, a PE ratio of 37.23, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00.

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