Starbucks Co. (NASDAQ:SBUX) Position Reduced by Victory Capital Management Inc.

Victory Capital Management Inc. trimmed its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 0.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,013,242 shares of the coffee company’s stock after selling 8,657 shares during the quarter. Victory Capital Management Inc. owned approximately 0.09% of Starbucks worth $92,458,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in SBUX. Wellington Management Group LLP boosted its stake 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 acquiring an additional 7,598,146 shares during the last quarter. FMR LLC raised its holdings in shares of Starbucks by 55.0% during the third quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock worth $1,928,339,000 after purchasing an additional 7,015,375 shares during the period. Assenagon Asset Management S.A. raised its holdings in shares of Starbucks by 1,491.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,808,571 shares of the coffee company’s stock worth $256,282,000 after purchasing an additional 2,632,087 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Starbucks by 1,078.5% during 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 during the period. Finally, Zurich Insurance Group Ltd FI acquired a new stake in shares of Starbucks during the third quarter worth $126,574,000. 72.29% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on SBUX shares. TD Cowen reissued a “buy” rating and set a $110.00 target price on shares of Starbucks in a report on Monday, November 11th. Barclays increased their target price on shares of Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Wedbush increased their price objective on shares of Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. BMO Capital Markets increased their price objective on shares of Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Finally, Redburn Atlantic reaffirmed a “sell” rating and issued a $77.00 price objective (down previously from $84.00) on shares of Starbucks in a report on Wednesday, November 13th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Starbucks currently has an average rating of “Moderate Buy” and an average target price of $105.75.

Starbucks Trading Down 5.6 %

NASDAQ:SBUX opened at $105.47 on Friday. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $117.46. The company has a 50-day moving average of $103.82 and a 200-day moving average of $98.94. The firm has a market cap of $119.80 billion, a price-to-earnings ratio of 34.02, a price-to-earnings-growth ratio of 3.59 and a beta of 0.99.

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

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.