DnB Asset Management AS Has $18.75 Million Stock Position in Starbucks Co. (NASDAQ:SBUX)

DnB Asset Management AS boosted its holdings in Starbucks Co. (NASDAQ:SBUX) by 6.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 205,456 shares of the coffee company’s stock after acquiring an additional 11,822 shares during the quarter. DnB Asset Management AS’s holdings in Starbucks were worth $18,748,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Quest Partners LLC bought a new position in Starbucks during the 3rd quarter valued at $115,000. CreativeOne Wealth LLC boosted its holdings in Starbucks by 26.8% during the third quarter. CreativeOne Wealth LLC now owns 9,960 shares of the coffee company’s stock worth $971,000 after purchasing an additional 2,106 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Starbucks by 7.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 498,894 shares of the coffee company’s stock worth $48,637,000 after purchasing an additional 34,963 shares during the last quarter. Vinva Investment Management Ltd grew its position in Starbucks by 323.5% in the 3rd quarter. Vinva Investment Management Ltd now owns 34,195 shares of the coffee company’s stock worth $3,329,000 after purchasing an additional 26,120 shares in the last quarter. Finally, Hantz Financial Services Inc. increased its stake in Starbucks by 35.5% in the 3rd quarter. Hantz Financial Services Inc. now owns 76,136 shares of the coffee company’s stock valued at $7,422,000 after buying an additional 19,965 shares during the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Stock Down 1.1 %

SBUX opened at $97.73 on Friday. The business’s fifty day simple moving average is $105.75 and its 200 day simple moving average is $99.50. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $117.46. The stock has a market cap of $111.01 billion, a PE ratio of 31.53, a P/E/G ratio of 3.59 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 earnings per share 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 previous year, the business posted $0.90 EPS. As a group, equities analysts anticipate that Starbucks Co. will post 2.99 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on SBUX shares. Wedbush increased their price target on Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. UBS Group lifted their target price on Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Wells Fargo & Company raised their price objective on shares of Starbucks from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Tuesday, February 25th. Stifel Nicolaus boosted their target price on shares of Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Finally, BMO Capital Markets lifted their price target on shares of Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $106.12.

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.