Gulf International Bank UK Ltd Sells 918 Shares of Starbucks Co. (NASDAQ:SBUX)

Gulf International Bank UK Ltd lowered its stake in Starbucks Co. (NASDAQ:SBUX) by 1.0% during the fourth quarter, Holdings Channel reports. The firm owned 89,710 shares of the coffee company’s stock after selling 918 shares during the period. Gulf International Bank UK Ltd’s holdings in Starbucks were worth $8,186,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Strategic Financial Concepts LLC bought a new position in shares of Starbucks in the fourth quarter worth $62,000. Weil Company Inc. grew its position in Starbucks by 31.2% in the third quarter. Weil Company Inc. now owns 34,580 shares of the coffee company’s stock valued at $3,371,000 after acquiring an additional 8,222 shares during the last quarter. Maia Wealth LLC grew its holdings in shares of Starbucks by 69.1% during the third quarter. Maia Wealth LLC now owns 18,582 shares of the coffee company’s stock worth $1,805,000 after purchasing an additional 7,596 shares during the last quarter. Investment Management Corp of Ontario grew its holdings in shares of Starbucks by 48.6% during the third quarter. Investment Management Corp of Ontario now owns 37,584 shares of the coffee company’s stock worth $3,664,000 after purchasing an additional 12,300 shares during the last quarter. Finally, Aljian Capital Management LLC grew its holdings in shares of Starbucks by 48.5% during the third quarter. Aljian Capital Management LLC now owns 30,422 shares of the coffee company’s stock worth $2,966,000 after purchasing an additional 9,936 shares during the last quarter. Institutional investors own 72.29% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on SBUX shares. Wedbush boosted their price target on Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Wells Fargo & Company lifted their price objective on Starbucks from $115.00 to $125.00 and gave the stock an “overweight” rating in a research note on Tuesday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $115.00 price objective on shares of Starbucks in a research note on Friday, January 24th. TD Cowen reaffirmed a “buy” rating and issued a $110.00 price objective on shares of Starbucks in a research note on Monday, November 11th. Finally, Citigroup boosted their price target on Starbucks from $96.00 to $99.00 and gave the company 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 assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Starbucks has an average rating of “Moderate Buy” and an average price target of $105.75.

Starbucks Price Performance

Shares of NASDAQ:SBUX opened at $113.00 on Thursday. The company has a market capitalization of $128.36 billion, a PE ratio of 36.45, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00. The business has a fifty day moving average price of $101.04 and a two-hundred day moving average price of $98.10. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $115.24.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 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 quarter in the previous year, the firm posted $0.90 EPS. Sell-side analysts anticipate 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.