Wellington Management Group LLP Has $1.45 Billion Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Wellington Management Group LLP increased its position in shares of Starbucks Co. (NASDAQ:SBUX) by 4.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 15,868,817 shares of the coffee company’s stock after buying an additional 718,880 shares during the quarter. Wellington Management Group LLP’s holdings in Starbucks were worth $1,448,030,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in SBUX. Rockefeller Capital Management L.P. raised its holdings in Starbucks by 9.7% during the third quarter. Rockefeller Capital Management L.P. now owns 352,561 shares of the coffee company’s stock worth $34,371,000 after buying an additional 31,116 shares during the last quarter. Fred Alger Management LLC raised its holdings in shares of Starbucks by 4.1% in the 3rd quarter. Fred Alger Management LLC now owns 44,390 shares of the coffee company’s stock worth $4,328,000 after acquiring an additional 1,740 shares during the last quarter. Acropolis Investment Management LLC lifted its position in Starbucks by 6.7% in the 3rd quarter. Acropolis Investment Management LLC now owns 4,693 shares of the coffee company’s stock valued at $458,000 after acquiring an additional 293 shares in the last quarter. Encompass More Asset Management acquired a new position in Starbucks during the 3rd quarter valued at about $243,000. Finally, Erste Asset Management GmbH bought a new stake in Starbucks during the 3rd quarter worth approximately $55,096,000. Institutional investors own 72.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on SBUX shares. BMO Capital Markets raised their target price on Starbucks from $110.00 to $115.00 and gave the company an “outperform” 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 objective on the stock in a research note on Tuesday, March 18th. Stifel Nicolaus upped their target price on shares of Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. 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 report on Wednesday, January 29th. Finally, Wedbush boosted their price target 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 research analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have assigned a buy rating and one has given 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 target price of $106.12.

Starbucks Trading Down 1.1 %

SBUX opened at $97.73 on Monday. The company has a 50 day moving average of $105.75 and a 200 day moving average of $99.55. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $117.46. The company has a market cap of $111.01 billion, a PE ratio of 31.53, a price-to-earnings-growth ratio of 3.59 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, beating 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 firm earned $0.90 earnings per share. Research analysts forecast that Starbucks Co. will post 2.99 earnings per share for the current fiscal 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.