Nicollet Investment Management Inc. Sells 2,411 Shares of Starbucks Co. (NASDAQ:SBUX)

Nicollet Investment Management Inc. decreased its stake in Starbucks Co. (NASDAQ:SBUX) by 7.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,821 shares of the coffee company’s stock after selling 2,411 shares during the period. Nicollet Investment Management Inc.’s holdings in Starbucks were worth $2,630,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank bought a new stake in Starbucks in the 4th quarter valued at $1,244,812,000. Wellington Management Group LLP raised its position in shares of 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 period. Raymond James Financial Inc. acquired a new stake in shares of Starbucks during the 4th quarter worth about $284,283,000. Assenagon Asset Management S.A. boosted its holdings in shares of 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 worth $256,282,000 after buying an additional 2,632,087 shares during the period. Finally, Zurich Insurance Group Ltd FI acquired a new position in Starbucks in the 3rd quarter valued at about $126,574,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Price Performance

Shares of Starbucks stock opened at $98.09 on Tuesday. The company’s 50 day moving average price is $105.81 and its two-hundred day moving average price is $99.54. The firm has a market capitalization of $111.42 billion, a P/E ratio of 31.64, a P/E/G ratio of 3.59 and a beta of 0.99. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $117.46.

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

Analysts Set New Price Targets

Several equities research analysts have issued reports on SBUX shares. Stifel Nicolaus raised their price objective on shares of Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Wedbush lifted their price target on Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Argus raised Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price objective on the stock in a report on Tuesday, March 18th. Wells Fargo & Company lifted their target price on Starbucks from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Tuesday, February 25th. Finally, UBS Group upped their price target on shares of Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Starbucks has a consensus rating of “Moderate Buy” and an average target price of $106.12.

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.