Mitsubishi UFJ Trust & Banking Corp Sells 24,338 Shares of Starbucks Co. (NASDAQ:SBUX)

Mitsubishi UFJ Trust & Banking Corp lowered its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 4.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 520,498 shares of the coffee company’s stock after selling 24,338 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Starbucks were worth $47,495,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in SBUX. Quest Partners LLC acquired a new stake in Starbucks during the 3rd quarter worth approximately $115,000. Private Trust Co. NA raised its stake in Starbucks by 10.1% in the third quarter. Private Trust Co. NA now owns 12,607 shares of the coffee company’s stock valued at $1,229,000 after purchasing an additional 1,158 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in Starbucks by 19.6% during the third quarter. The Manufacturers Life Insurance Company now owns 2,181,179 shares of the coffee company’s stock worth $212,643,000 after purchasing an additional 357,046 shares during the period. FMR LLC grew 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 worth $1,928,339,000 after buying an additional 7,015,375 shares in the last quarter. Finally, Brooklyn Investment Group increased its holdings in Starbucks by 7.5% in the 3rd quarter. Brooklyn Investment Group now owns 5,349 shares of the coffee company’s stock valued at $521,000 after buying an additional 373 shares during the period. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Trading Up 0.2 %

SBUX stock opened at $95.88 on Wednesday. The firm has a market cap of $108.91 billion, a PE ratio of 30.93, a price-to-earnings-growth ratio of 3.59 and a beta of 0.99. The stock has a 50-day moving average price of $105.51 and a 200-day moving average price of $99.48. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $117.46.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, topping 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 earnings per share. On average, analysts forecast that Starbucks Co. will post 2.99 earnings per share for the current year.

Analyst Ratings Changes

Several analysts recently issued reports on SBUX shares. Royal Bank of Canada reiterated an “outperform” rating and set a $115.00 price target on shares of Starbucks in a research report on Friday, January 24th. Argus raised Starbucks from a “hold” rating to a “buy” rating and set a $115.00 target price on the stock in a report on Tuesday, March 18th. UBS Group boosted their price target on Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Barclays raised their price objective on Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Finally, Stifel Nicolaus boosted their target price on Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Starbucks presently has an average rating of “Moderate Buy” and a consensus price target of $106.12.

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.