Lee Danner & Bass Inc. Sells 275 Shares of Starbucks Co. (NASDAQ:SBUX)

Lee Danner & Bass Inc. trimmed its position in Starbucks Co. (NASDAQ:SBUX) by 0.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 47,965 shares of the coffee company’s stock after selling 275 shares during the period. Lee Danner & Bass Inc.’s holdings in Starbucks were worth $4,377,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Strategic Financial Concepts LLC bought a new position in Starbucks in the 4th quarter valued at $62,000. Arizona State Retirement System boosted its position in Starbucks by 0.8% in the 4th quarter. Arizona State Retirement System now owns 327,459 shares of the coffee company’s stock valued at $29,881,000 after buying an additional 2,722 shares during the last quarter. West Michigan Advisors LLC bought a new position in shares of Starbucks in the 4th quarter worth $265,000. Wernau Asset Management Inc. bought a new position in shares of Starbucks in the 4th quarter worth $258,000. Finally, Investment Management Corp of Ontario boosted its position in shares of Starbucks by 48.6% in the 3rd quarter. Investment Management Corp of Ontario now owns 37,584 shares of the coffee company’s stock worth $3,664,000 after purchasing an additional 12,300 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors.

Starbucks Stock Performance

NASDAQ:SBUX opened at $99.28 on Friday. The stock’s 50-day simple moving average is $105.31 and its 200 day simple moving average is $99.30. The company has a market cap of $112.77 billion, a P/E ratio of 32.03, a P/E/G ratio of 3.59 and a beta of 0.99. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $117.46.

Starbucks (NASDAQ:SBUX) last released its 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 period in the prior year, the company earned $0.90 EPS. As a group, equities analysts predict that Starbucks Co. will post 2.99 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Stifel Nicolaus raised 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. Wedbush raised their price target on Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Royal Bank of Canada restated an “outperform” rating and issued a $115.00 price target on shares of Starbucks in a research report on Friday, January 24th. Wells Fargo & Company raised 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. Finally, UBS Group raised 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. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus 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.