Altrius Capital Management Inc Cuts Stock Position in Starbucks Co. (NASDAQ:SBUX)

Altrius Capital Management Inc trimmed its position in Starbucks Co. (NASDAQ:SBUX) by 1.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 53,250 shares of the coffee company’s stock after selling 935 shares during the quarter. Altrius Capital Management Inc’s holdings in Starbucks were worth $4,859,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in SBUX. Wellington Management Group LLP raised its holdings in shares of Starbucks by 100.6% during the 3rd quarter. Wellington Management Group LLP now owns 15,149,937 shares of the coffee company’s stock worth $1,476,967,000 after acquiring an additional 7,598,146 shares in the last quarter. FMR LLC lifted its position in Starbucks by 55.0% during 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. Assenagon Asset Management S.A. grew its stake 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 worth $256,282,000 after buying an additional 2,632,087 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of Starbucks by 1,078.5% in the 3rd 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 buying an additional 2,329,431 shares during the last quarter. Finally, Zurich Insurance Group Ltd FI purchased a new stake in shares of Starbucks during the 3rd quarter valued at about $126,574,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Starbucks Trading Up 1.3 %

Shares of SBUX opened at $114.49 on Friday. The firm has a market cap of $130.05 billion, a PE ratio of 36.93, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00. The company’s 50 day simple moving average is $101.55 and its 200-day simple moving average is $98.22. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $115.70.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, topping 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 in the prior year, the business earned $0.90 earnings per share. As a group, equities research analysts forecast that Starbucks Co. will post 2.99 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Wedbush lifted their price target on Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Barclays raised their price objective 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 reiterated an “outperform” rating and issued a $115.00 target price on shares of Starbucks in a research note on Friday, January 24th. Wells Fargo & Company boosted their target price on shares of Starbucks from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Tuesday. Finally, Citigroup raised their price target 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. Three research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Starbucks has an average rating of “Moderate Buy” and a consensus price target of $105.75.

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.