Starbucks Co. (NASDAQ:SBUX) Stock Position Trimmed by Loomis Sayles & Co. L P

Loomis Sayles & Co. L P trimmed its position in shares of Starbucks Co. (NASDAQ:SBUX) by 3.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,619,083 shares of the coffee company’s stock after selling 315,488 shares during the period. Starbucks accounts for approximately 94.8% of Loomis Sayles & Co. L P’s holdings, making the stock its 21st biggest position. Loomis Sayles & Co. L P owned approximately 0.85% of Starbucks worth $877,741,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Wellington Management Group LLP boosted its position in Starbucks by 100.6% during the 3rd quarter. Wellington Management Group LLP now owns 15,149,937 shares of the coffee company’s stock worth $1,476,967,000 after acquiring an additional 7,598,146 shares during the period. FMR LLC boosted its stake in Starbucks by 55.0% during the third quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock valued at $1,928,339,000 after buying an additional 7,015,375 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Starbucks in the 4th quarter worth approximately $284,283,000. Assenagon Asset Management S.A. grew its position in Starbucks by 1,491.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,808,571 shares of the coffee company’s stock worth $256,282,000 after buying an additional 2,632,087 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of Starbucks by 1,078.5% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,545,419 shares of the coffee company’s stock worth $248,153,000 after acquiring an additional 2,329,431 shares during the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SBUX. Wells Fargo & Company boosted their price target on shares of Starbucks from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Tuesday, February 25th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $115.00 price target on shares of Starbucks in a research note on Friday, January 24th. Barclays lifted their target price on shares of Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Stifel Nicolaus raised their price target on shares of Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a report on Monday, January 27th. Finally, Wedbush upped 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. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $106.12.

Starbucks Trading Up 2.2 %

Shares of NASDAQ:SBUX opened at $97.97 on Thursday. The firm has a market capitalization of $111.28 billion, a PE ratio of 31.60, a PEG ratio of 3.59 and a beta of 0.99. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $117.46. The business’s 50 day moving average is $105.61 and its 200-day moving average is $99.47.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data 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 net margin of 9.73% and a negative return on equity of 44.97%. During the same period in the previous year, the business posted $0.90 earnings per share. On average, sell-side analysts predict that Starbucks Co. will post 2.99 EPS for the current year.

Starbucks 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.