Davis R M Inc. Reduces Position in Starbucks Co. (NASDAQ:SBUX)

Davis R M Inc. trimmed its stake in Starbucks Co. (NASDAQ:SBUX) by 4.4% in the 4th quarter, HoldingsChannel reports. The firm owned 31,433 shares of the coffee company’s stock after selling 1,461 shares during the period. Davis R M Inc.’s holdings in Starbucks were worth $2,868,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. Wellington Management Group LLP increased its position in Starbucks by 100.6% in the third quarter. Wellington Management Group LLP now owns 15,149,937 shares of the coffee company’s stock worth $1,476,967,000 after buying an additional 7,598,146 shares in the last quarter. FMR LLC grew its stake in shares of Starbucks by 55.0% during the 3rd quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock valued at $1,928,339,000 after acquiring an additional 7,015,375 shares during the period. Raymond James Financial Inc. purchased a new stake in Starbucks in the 4th quarter worth approximately $284,283,000. Assenagon Asset Management S.A. raised its stake in Starbucks by 1,491.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,808,571 shares of the coffee company’s stock worth $256,282,000 after acquiring an additional 2,632,087 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in Starbucks by 1,078.5% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,545,419 shares of the coffee company’s stock valued at $248,153,000 after purchasing an additional 2,329,431 shares in the last quarter. 72.29% of the stock is owned by institutional investors.

Starbucks Price Performance

Shares of SBUX stock opened at $99.58 on Wednesday. The company has a market cap of $113.11 billion, a PE ratio of 32.12, a price-to-earnings-growth ratio of 3.59 and a beta of 0.99. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $117.46. The stock’s 50 day simple moving average is $104.48 and its two-hundred day simple moving average is $99.23.

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

Analysts Set New Price Targets

A number of analysts have recently issued reports on SBUX shares. UBS Group increased their price objective on shares of Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Redburn Atlantic reiterated a “sell” rating and issued a $77.00 price target (down previously from $84.00) on shares of Starbucks in a research note on Wednesday, November 13th. Barclays boosted their price objective on Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Wedbush increased 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. Finally, Stifel Nicolaus boosted their price target on Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Three analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $105.75.

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.