Starbucks Co. (NASDAQ:SBUX) Holdings Decreased by MV Capital Management Inc.

MV Capital Management Inc. reduced its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 7.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,052 shares of the coffee company’s stock after selling 165 shares during the quarter. MV Capital Management Inc.’s holdings in Starbucks were worth $187,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of SBUX. Strategy Asset Managers LLC lifted its position in shares of Starbucks by 4.3% in the fourth quarter. Strategy Asset Managers LLC now owns 6,107 shares of the coffee company’s stock worth $557,000 after buying an additional 251 shares during the last quarter. Allianz SE acquired a new position in Starbucks in the 4th quarter valued at $406,000. Intrust Bank NA raised its holdings in Starbucks by 1.1% in the 4th quarter. Intrust Bank NA now owns 17,084 shares of the coffee company’s stock worth $1,559,000 after acquiring an additional 185 shares during the period. Biondo Investment Advisors LLC lifted its position in Starbucks by 1.5% during the 4th quarter. Biondo Investment Advisors LLC now owns 60,740 shares of the coffee company’s stock worth $5,543,000 after acquiring an additional 870 shares during the last quarter. Finally, Allstate Corp bought a new stake in Starbucks during the fourth quarter valued at about $3,069,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Starbucks Stock Down 1.1 %

Shares of SBUX stock opened at $97.73 on Friday. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $117.46. The firm has a fifty day moving average of $105.75 and a 200-day moving average of $99.50. The firm has a market capitalization of $111.01 billion, a price-to-earnings ratio of 31.53, a price-to-earnings-growth ratio of 3.59 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last issued 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 net margin of 9.73% and a negative return on equity of 44.97%. During the same quarter in the prior year, the business earned $0.90 earnings per share. Research analysts expect that Starbucks Co. will post 2.99 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SBUX. Wells Fargo & Company boosted their price objective on Starbucks from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 25th. Barclays increased their price objective on Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Royal Bank of Canada reiterated an “outperform” rating and set a $115.00 target price on shares of Starbucks in a research note on Friday, January 24th. BMO Capital Markets raised 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, Wedbush increased their target price on shares of Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $106.12.

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.