Amalgamated Bank Reduces Holdings in Starbucks Co. (NASDAQ:SBUX)

Amalgamated Bank trimmed its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 1.4% during the 4th quarter, Holdings Channel.com reports. The fund owned 231,481 shares of the coffee company’s stock after selling 3,268 shares during the quarter. Amalgamated Bank’s holdings in Starbucks were worth $21,123,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Wellington Management Group LLP increased its holdings in Starbucks by 100.6% during the 3rd quarter. Wellington Management Group LLP now owns 15,149,937 shares of the coffee company’s stock valued at $1,476,967,000 after purchasing an additional 7,598,146 shares during the period. FMR LLC lifted its stake in Starbucks by 55.0% in the third quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock worth $1,928,339,000 after acquiring an additional 7,015,375 shares during the period. Assenagon Asset Management S.A. increased its position in Starbucks by 1,491.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,808,571 shares of the coffee company’s stock valued at $256,282,000 after purchasing an additional 2,632,087 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Starbucks by 1,078.5% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,545,419 shares of the coffee company’s stock valued at $248,153,000 after purchasing an additional 2,329,431 shares in the last quarter. Finally, Zurich Insurance Group Ltd FI purchased a new stake in Starbucks in the third quarter worth about $126,574,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Trading Up 1.3 %

SBUX opened at $113.19 on Tuesday. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $114.68. The company has a market cap of $128.57 billion, a price-to-earnings ratio of 36.51, a PEG ratio of 3.59 and a beta of 1.00. The company’s 50 day moving average is $100.13 and its 200 day moving average is $97.72.

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 firm posted $0.90 EPS. As a group, analysts predict that Starbucks Co. will post 2.99 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently commented on SBUX shares. BMO Capital Markets boosted their price target on Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Citigroup increased their target price on Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. UBS Group raised their price target on Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Redburn Atlantic reissued a “sell” rating and set a $77.00 price objective (down from $84.00) on shares of Starbucks in a research report on Wednesday, November 13th. Finally, Barclays upped their target price on shares of Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $105.33.

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.