Starbucks Co. (NASDAQ:SBUX) Shares Sold by Exchange Capital Management Inc.

Exchange Capital Management Inc. lowered its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 1.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 42,450 shares of the coffee company’s stock after selling 791 shares during the quarter. Exchange Capital Management Inc.’s holdings in Starbucks were worth $3,874,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

Several research firms have commented on SBUX. Stifel Nicolaus upped their target price 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. Citigroup lifted their price target on Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Wells Fargo & Company raised their price target on Starbucks from $110.00 to $115.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. BMO Capital Markets upped 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 restated a “sell” rating and set a $77.00 price objective (down previously from $84.00) on shares of Starbucks in a report on Wednesday, November 13th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Starbucks has an average rating of “Moderate Buy” and a consensus price target of $105.33.

Starbucks Stock Performance

Shares of SBUX stock opened at $113.19 on Tuesday. The stock has a market cap of $128.57 billion, a PE ratio of 36.51, a PEG ratio of 3.59 and a beta of 1.00. The firm’s 50 day moving average price is $100.13 and its two-hundred day moving average price is $97.72. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $114.68.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate 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 prior year, the business posted $0.90 EPS. As a group, sell-side analysts predict that Starbucks Co. will post 2.99 earnings per share for the current fiscal 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.