Nomura Asset Management Co. Ltd. Sells 2,541 Shares of Starbucks Co. (NASDAQ:SBUX)

Nomura Asset Management Co. Ltd. reduced its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 0.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 382,507 shares of the coffee company’s stock after selling 2,541 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Starbucks were worth $34,904,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Norges Bank purchased a new stake in shares of Starbucks during the 4th quarter valued at about $1,244,812,000. Wellington Management Group LLP boosted its holdings 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 purchasing an additional 7,598,146 shares during the last quarter. Raymond James Financial Inc. bought 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 valued at $256,282,000 after buying an additional 2,632,087 shares during the last quarter. Finally, Zurich Insurance Group Ltd FI bought a new position in shares of Starbucks during the 3rd quarter valued at $126,574,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Trading Down 1.1 %

Shares of NASDAQ:SBUX opened at $97.73 on Friday. The company has a market cap of $111.01 billion, a price-to-earnings ratio of 31.53, a PEG ratio of 3.59 and a beta of 0.99. The company has a 50-day moving average price of $105.75 and a 200 day moving average price of $99.50. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $117.46.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01. Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. During the same period in the prior year, the firm earned $0.90 earnings per share. As a group, equities analysts forecast that Starbucks Co. will post 2.99 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. BMO Capital Markets lifted their price objective on Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Barclays increased their price objective on shares of Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Wedbush raised their price objective on shares of Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Royal Bank of Canada reiterated an “outperform” rating and issued a $115.00 price target on shares of Starbucks in a research report on Friday, January 24th. Finally, Argus raised shares of Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price objective for the company in a research report on Tuesday, March 18th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company 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.