Erste Asset Management GmbH Decreases Stake in Starbucks Co. (NASDAQ:SBUX)

Erste Asset Management GmbH reduced its stake in Starbucks Co. (NASDAQ:SBUX) by 14.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 485,150 shares of the coffee company’s stock after selling 80,000 shares during the period. Erste Asset Management GmbH’s holdings in Starbucks were worth $43,771,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of SBUX. Financial Life Planners purchased a new position in Starbucks in the 4th quarter worth approximately $25,000. Collier Financial purchased a new position in shares of Starbucks during the fourth quarter valued at approximately $27,000. Marshall Investment Management LLC purchased a new position in shares of Starbucks during the fourth quarter valued at approximately $30,000. Noble Wealth Management PBC purchased a new position in shares of Starbucks during the fourth quarter valued at approximately $30,000. Finally, Centricity Wealth Management LLC purchased a new position in shares of Starbucks during the fourth quarter valued at approximately $36,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Redburn Atlantic reissued a “sell” rating and set a $77.00 target price (down from $84.00) on shares of Starbucks in a research note on Wednesday, November 13th. Wells Fargo & Company boosted their target price on Starbucks from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Tuesday, February 25th. Barclays boosted their target price on Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Royal Bank of Canada reissued an “outperform” rating and set a $115.00 target price on shares of Starbucks in a research note on Friday, January 24th. Finally, Wedbush boosted their target price on Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Three analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Starbucks presently has an average rating of “Moderate Buy” and a consensus price target of $105.75.

Starbucks Trading Down 0.9 %

Starbucks stock opened at $98.69 on Thursday. The business’s fifty day simple moving average is $104.63 and its two-hundred day simple moving average is $99.22. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $117.46. The company has a market capitalization of $112.10 billion, a price-to-earnings ratio of 31.84, a price-to-earnings-growth 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 (EPS) for the quarter, beating 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 company earned $0.90 EPS. On average, equities research analysts predict that Starbucks Co. will post 2.99 EPS 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.