Starbucks Co. (NASDAQ:SBUX) Position Reduced by Scott & Selber Inc.

Scott & Selber Inc. reduced its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 2.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,617 shares of the coffee company’s stock after selling 555 shares during the period. Scott & Selber Inc.’s holdings in Starbucks were worth $2,246,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. State Street Corp grew its stake in Starbucks by 1.0% in the third quarter. State Street Corp now owns 45,974,407 shares of the coffee company’s stock worth $4,482,045,000 after purchasing an additional 437,218 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Starbucks by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 24,277,756 shares of the coffee company’s stock worth $2,358,464,000 after acquiring an additional 333,004 shares in the last quarter. FMR LLC grew its position in shares of Starbucks by 55.0% in the 3rd quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock worth $1,928,339,000 after acquiring an additional 7,015,375 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Starbucks by 100.6% in the 3rd quarter. Wellington Management Group LLP now owns 15,149,937 shares of the coffee company’s stock valued at $1,476,967,000 after acquiring an additional 7,598,146 shares during the last quarter. Finally, Fisher Asset Management LLC raised its position in shares of Starbucks by 1.3% during the 4th quarter. Fisher Asset Management LLC now owns 11,916,777 shares of the coffee company’s stock valued at $1,087,406,000 after acquiring an additional 154,093 shares in the last quarter. Institutional investors own 72.29% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on SBUX. UBS Group boosted their target price on shares of Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Barclays boosted their price objective on shares of Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Redburn Atlantic reissued a “sell” rating and issued a $77.00 target price (down previously from $84.00) on shares of Starbucks in a report on Wednesday, November 13th. Stifel Nicolaus upped their target price on Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a report on Monday, January 27th. Finally, TD Cowen reissued a “buy” rating and issued a $110.00 price target on shares of Starbucks in a report on Monday, November 11th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $105.75.

Starbucks Stock Down 0.3 %

Shares of SBUX stock opened at $115.41 on Tuesday. The stock has a 50-day simple moving average of $102.67 and a 200 day simple moving average of $98.68. The stock has a market capitalization of $131.09 billion, a P/E ratio of 37.23, a P/E/G ratio of 3.59 and a beta of 1.00. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $117.46.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, beating the consensus estimate 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 quarter last year, the business posted $0.90 earnings per share. On average, sell-side analysts anticipate that Starbucks Co. will post 2.99 earnings per share for the current year.

Starbucks Company Profile

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.