First Eagle Investment Management LLC Has $4.52 Million Stock Position in Starbucks Co. (NASDAQ:SBUX)

First Eagle Investment Management LLC decreased its position in Starbucks Co. (NASDAQ:SBUX) by 0.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 49,521 shares of the coffee company’s stock after selling 270 shares during the period. First Eagle Investment Management LLC’s holdings in Starbucks were worth $4,519,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Financial Life Planners acquired a new position in shares of Starbucks in the 4th quarter worth approximately $25,000. Collier Financial acquired a new position in shares of Starbucks in the 4th quarter worth approximately $27,000. Marshall Investment Management LLC acquired a new position in shares of Starbucks in the 4th quarter worth approximately $30,000. Noble Wealth Management PBC acquired a new position in shares of Starbucks in the 4th quarter worth approximately $30,000. Finally, Centricity Wealth Management LLC bought a new stake in Starbucks during the 4th quarter worth approximately $36,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Price Performance

SBUX opened at $98.11 on Friday. The business’s 50-day moving average price is $104.82 and its two-hundred day moving average price is $99.22. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $117.46. The company has a market capitalization of $111.44 billion, a price-to-earnings ratio of 31.65, a P/E/G ratio of 3.59 and a beta of 0.99.

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

Analyst Ratings Changes

A number of equities research analysts recently commented on SBUX shares. Wells Fargo & Company increased 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. Royal Bank of Canada restated an “outperform” rating and set a $115.00 price target on shares of Starbucks in a research report on Friday, January 24th. UBS Group increased their price target on Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Stifel Nicolaus increased their price target on Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Finally, Barclays increased 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. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Starbucks presently has a consensus rating of “Moderate Buy” and an average target price of $105.75.

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.