ING Groep NV Has $8.38 Million Position in Starbucks Co. (NASDAQ:SBUX)

ING Groep NV reduced its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 6.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 91,815 shares of the coffee company’s stock after selling 6,315 shares during the quarter. ING Groep NV’s holdings in Starbucks were worth $8,378,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the stock. Kuhn & Co Investment Counsel lifted its position in Starbucks by 2.3% during the 4th quarter. Kuhn & Co Investment Counsel now owns 4,240 shares of the coffee company’s stock worth $387,000 after buying an additional 96 shares in the last quarter. Jmac Enterprises LLC lifted its position in Starbucks by 1.0% during the 4th quarter. Jmac Enterprises LLC now owns 9,995 shares of the coffee company’s stock worth $912,000 after buying an additional 103 shares in the last quarter. Aspire Capital Advisors LLC lifted its position in Starbucks by 0.5% during the 4th quarter. Aspire Capital Advisors LLC now owns 23,210 shares of the coffee company’s stock valued at $2,118,000 after purchasing an additional 104 shares during the period. Optas LLC lifted its position in Starbucks by 0.6% during the 4th quarter. Optas LLC now owns 16,711 shares of the coffee company’s stock valued at $1,525,000 after purchasing an additional 105 shares during the period. Finally, Boomfish Wealth Group LLC lifted its position in Starbucks by 0.7% during the 4th quarter. Boomfish Wealth Group LLC now owns 15,335 shares of the coffee company’s stock valued at $1,399,000 after purchasing an additional 108 shares during the period. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Stifel Nicolaus upped their target price on shares of Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a research report on Monday, January 27th. UBS Group upped 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. Wedbush upped their target price on shares of Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. BMO Capital Markets upped their target price on shares of Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Finally, Wells Fargo & Company upped their target price on shares of Starbucks from $110.00 to $115.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $105.33.

Starbucks Stock Down 1.4 %

Shares of SBUX opened at $111.75 on Friday. The stock has a market capitalization of $126.94 billion, a P/E ratio of 36.05, a P/E/G ratio of 3.56 and a beta of 1.00. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $114.68. The company has a 50 day moving average of $99.72 and a 200-day moving average of $97.15.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results 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 net margin of 9.73% and a negative return on equity of 44.97%. During the same quarter in the previous year, the company posted $0.90 earnings per share. On average, sell-side analysts anticipate that Starbucks Co. will post 2.99 earnings per share for the current fiscal 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.