Crestwood Advisors Group LLC Sells 2,384 Shares of Starbucks Co. (NASDAQ:SBUX)

Crestwood Advisors Group LLC trimmed its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 5.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 43,309 shares of the coffee company’s stock after selling 2,384 shares during the quarter. Crestwood Advisors Group LLC’s holdings in Starbucks were worth $3,952,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Wellington Management Group LLP lifted 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 worth $1,476,967,000 after purchasing an additional 7,598,146 shares during the period. FMR LLC raised its position in shares of Starbucks by 55.0% in the 3rd quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock valued at $1,928,339,000 after buying an additional 7,015,375 shares in the last quarter. Assenagon Asset Management S.A. raised its position 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 buying an additional 2,632,087 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Starbucks by 1,078.5% during 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 acquiring 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 3rd quarter worth approximately $126,574,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SBUX has been the subject of several research analyst reports. Wedbush boosted their price objective on shares of Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Royal Bank of Canada reissued an “outperform” rating and set a $115.00 price target on shares of Starbucks in a report on Friday, January 24th. Redburn Atlantic reaffirmed a “sell” rating and issued a $77.00 price objective (down from $84.00) on shares of Starbucks in a research note on Wednesday, November 13th. Wells Fargo & Company lifted their target price on Starbucks from $110.00 to $115.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. Finally, UBS Group increased their target price on shares of Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Three analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Starbucks currently has an average rating of “Moderate Buy” and a consensus price target of $105.33.

Starbucks Stock Performance

NASDAQ:SBUX opened at $113.19 on Tuesday. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $114.68. The company has a 50 day simple moving average of $100.13 and a two-hundred day simple moving average of $97.72. The company has a market capitalization of $128.57 billion, a PE ratio of 36.51, a P/E/G ratio of 3.59 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results 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 in the prior year, the company posted $0.90 earnings per share. Research analysts predict that Starbucks Co. will post 2.99 EPS for the current year.

Starbucks Company 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.