OVERSEA CHINESE BANKING Corp Ltd Sells 29,655 Shares of Starbucks Co. (NASDAQ:SBUX)

OVERSEA CHINESE BANKING Corp Ltd lessened its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 51.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,271 shares of the coffee company’s stock after selling 29,655 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Starbucks were worth $2,608,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in SBUX. Quest Partners LLC bought a new position in Starbucks in the third quarter worth $115,000. Caprock Group LLC raised its holdings in Starbucks by 8.6% in the third quarter. Caprock Group LLC now owns 24,066 shares of the coffee company’s stock worth $2,346,000 after purchasing an additional 1,899 shares in the last quarter. BIP Wealth LLC bought a new position in Starbucks in the third quarter worth $211,000. Banque Cantonale Vaudoise raised its holdings in Starbucks by 79.4% in the third quarter. Banque Cantonale Vaudoise now owns 28,000 shares of the coffee company’s stock worth $2,730,000 after purchasing an additional 12,394 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new position in Starbucks in the third quarter worth $6,765,000. Institutional investors own 72.29% of the company’s stock.

Starbucks Stock Performance

Shares of NASDAQ:SBUX opened at $99.19 on Thursday. The stock has a market capitalization of $112.67 billion, a price-to-earnings ratio of 32.00, a PEG ratio of 3.59 and a beta of 0.99. The stock’s 50-day simple moving average is $105.18 and its two-hundred day simple moving average is $99.30. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $117.46.

Starbucks (NASDAQ:SBUX) last announced its earnings results 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 previous year, the business earned $0.90 EPS. As a group, equities analysts forecast that Starbucks Co. will post 2.99 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Wedbush increased their price objective on Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Argus upgraded Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price target for the company in a report on Tuesday. Barclays raised their price target on Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Royal Bank of Canada restated an “outperform” rating and set a $115.00 price target on shares of Starbucks in a report on Friday, January 24th. Finally, Wells Fargo & Company raised their price target on Starbucks from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Tuesday, February 25th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price 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.