Bray Capital Advisors Has $2.88 Million Stake in Starbucks Co. (NASDAQ:SBUX)

Bray Capital Advisors trimmed its position in shares of Starbucks Co. (NASDAQ:SBUX) by 11.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 31,576 shares of the coffee company’s stock after selling 4,236 shares during the period. Bray Capital Advisors’ holdings in Starbucks were worth $2,881,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in SBUX. Wellington Management Group LLP raised its position in Starbucks by 100.6% during 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 buying an additional 7,598,146 shares during the period. FMR LLC grew its stake in Starbucks by 55.0% during the 3rd quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock valued at $1,928,339,000 after acquiring an additional 7,015,375 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Starbucks by 1,491.4% in 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 lifted its position in shares of Starbucks by 1,078.5% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,545,419 shares of the coffee company’s stock worth $248,153,000 after purchasing an additional 2,329,431 shares in the last quarter. Finally, Zurich Insurance Group Ltd FI acquired a new stake in shares of Starbucks during the third quarter worth approximately $126,574,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Stock Performance

Starbucks stock opened at $113.34 on Friday. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $113.50. The firm has a market capitalization of $128.74 billion, a PE ratio of 36.56, a PEG ratio of 3.56 and a beta of 1.00. The business’s 50-day simple moving average is $99.44 and its 200-day simple moving average is $96.89.

Starbucks (NASDAQ:SBUX) last released its earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, beating 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 last year, the company posted $0.90 EPS. Research analysts forecast that Starbucks Co. will post 2.99 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SBUX. Wells Fargo & Company upped their price objective on shares of Starbucks from $110.00 to $115.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. Barclays upped their price target 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. Royal Bank of Canada reissued an “outperform” rating and set a $115.00 price objective on shares of Starbucks in a research report on Friday, January 24th. TD Cowen reaffirmed a “buy” rating and issued a $110.00 target price on shares of Starbucks in a research report on Monday, November 11th. Finally, Stifel Nicolaus lifted 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. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Starbucks presently has a consensus 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.