Wellington Shields Capital Management LLC Sells 200 Shares of Starbucks Co. (NASDAQ:SBUX)

Wellington Shields Capital Management LLC trimmed its position in Starbucks Co. (NASDAQ:SBUX) by 6.1% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 3,055 shares of the coffee company’s stock after selling 200 shares during the period. Wellington Shields Capital Management LLC’s holdings in Starbucks were worth $279,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of SBUX. Wellington Management Group LLP increased its holdings in shares of 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 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 during the period. Raymond James Financial Inc. purchased a new position in Starbucks during the fourth quarter worth about $284,283,000. Assenagon Asset Management S.A. increased its stake in Starbucks by 1,491.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 2,808,571 shares of the coffee company’s stock worth $256,282,000 after acquiring an additional 2,632,087 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised 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 valued at $248,153,000 after acquiring an additional 2,329,431 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors.

Starbucks Trading Up 2.2 %

Starbucks stock opened at $98.11 on Friday. The firm has a market cap of $111.44 billion, a P/E ratio of 31.65, a P/E/G 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 firm has a 50-day moving average of $104.82 and a 200-day moving average of $99.22.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, topping the consensus estimate 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 previous year, the company posted $0.90 earnings per share. Research analysts forecast that Starbucks Co. will post 2.99 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on SBUX shares. Stifel Nicolaus upped their price objective on shares of Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. BMO Capital Markets increased 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. UBS Group lifted their price objective on shares of Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Wedbush increased their target price on Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Finally, 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. Three 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 assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $105.75.

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.