Starbucks Co. (NASDAQ:SBUX) Shares Sold by Swiss National Bank

Swiss National Bank cut its stake in Starbucks Co. (NASDAQ:SBUX) by 4.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,201,300 shares of the coffee company’s stock after selling 160,800 shares during the period. Swiss National Bank owned 0.28% of Starbucks worth $292,119,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in SBUX. State Street Corp increased its holdings in shares of Starbucks by 1.0% in the 3rd quarter. State Street Corp now owns 45,974,407 shares of the coffee company’s stock worth $4,482,045,000 after acquiring an additional 437,218 shares during the period. Geode Capital Management LLC grew its position in 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 purchasing an additional 333,004 shares during the last quarter. FMR LLC increased its stake in shares of Starbucks by 55.0% in the third quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock valued at $1,928,339,000 after purchasing an additional 7,015,375 shares during the period. Wellington Management Group LLP raised its holdings in shares of Starbucks by 100.6% during the third quarter. Wellington Management Group LLP now owns 15,149,937 shares of the coffee company’s stock valued at $1,476,967,000 after buying an additional 7,598,146 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its position in shares of Starbucks by 1.3% during the fourth quarter. Fisher Asset Management LLC now owns 11,916,777 shares of the coffee company’s stock worth $1,087,406,000 after buying an additional 154,093 shares during the period. 72.29% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently commented on the company. Wells Fargo & Company lifted their target price on Starbucks from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Tuesday, February 25th. Royal Bank of Canada restated an “outperform” rating and set a $115.00 price objective on shares of Starbucks in a research note on Friday, January 24th. UBS Group increased their target price on shares of Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. BMO Capital Markets boosted their price target on shares of Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Finally, Stifel Nicolaus increased their price objective on shares of Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a report on Monday, January 27th. Three research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $105.75.

Starbucks Stock Down 0.9 %

Shares of NASDAQ:SBUX opened at $98.69 on Thursday. The company has a market cap of $112.10 billion, a P/E ratio of 31.84, a price-to-earnings-growth ratio of 3.59 and a beta of 0.99. The company’s fifty day moving average is $104.63 and its two-hundred day moving average is $99.22. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $117.46.

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, 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 prior year, the company posted $0.90 earnings per share. Equities research analysts anticipate that Starbucks Co. will post 2.99 earnings per share for the current year.

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.