Bell Bank Sells 5,448 Shares of Starbucks Co. (NASDAQ:SBUX)

Bell Bank lowered its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 37.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 8,970 shares of the coffee company’s stock after selling 5,448 shares during the quarter. Bell Bank’s holdings in Starbucks were worth $819,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. State Street Corp increased its holdings in shares of Starbucks by 1.0% in the third quarter. State Street Corp now owns 45,974,407 shares of the coffee company’s stock worth $4,482,045,000 after buying an additional 437,218 shares during the period. Geode Capital Management LLC increased its stake in Starbucks by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 24,277,756 shares of the coffee company’s stock worth $2,358,464,000 after purchasing an additional 333,004 shares during the period. FMR LLC lifted its position in Starbucks by 55.0% in the third quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock valued at $1,928,339,000 after purchasing an additional 7,015,375 shares during the last quarter. Wellington Management Group LLP lifted its position in Starbucks by 100.6% in the third 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 last quarter. Finally, Fisher Asset Management LLC boosted its stake in shares of Starbucks by 2.9% during the third quarter. Fisher Asset Management LLC now owns 11,762,684 shares of the coffee company’s stock valued at $1,146,744,000 after purchasing an additional 327,734 shares during the period. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Price Performance

NASDAQ:SBUX opened at $111.75 on Friday. Starbucks Co. has a one year low of $71.55 and a one year high of $114.68. The company’s 50-day simple moving average is $99.72 and its 200 day simple moving average is $97.15. The firm has a market capitalization of $126.94 billion, a P/E ratio of 36.05, a PEG ratio of 3.59 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates 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 company posted $0.90 EPS. On average, equities research analysts expect that Starbucks Co. will post 2.99 earnings per share for the current fiscal year.

Analyst Ratings Changes

SBUX has been the topic of several analyst reports. Citigroup lifted their target price on shares of Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. TD Cowen reaffirmed a “buy” rating and set a $110.00 price objective on shares of Starbucks in a research note on Monday, November 11th. Wells Fargo & Company increased their target price on shares of Starbucks from $110.00 to $115.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Stifel Nicolaus boosted their price target on Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a report on Monday, January 27th. Finally, BMO Capital Markets increased their price objective on Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $105.33.

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.