Jensen Investment Management Inc. Sells 1,287,290 Shares of Starbucks Co. (NASDAQ:SBUX)

Jensen Investment Management Inc. lessened its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 97.7% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 30,221 shares of the coffee company’s stock after selling 1,287,290 shares during the period. Jensen Investment Management Inc.’s holdings in Starbucks were worth $2,758,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. State Street Corp lifted its position 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 buying an additional 437,218 shares during the period. Geode Capital Management LLC lifted its position in shares of Starbucks by 1.4% during the 3rd 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 position in shares of Starbucks by 55.0% during the 3rd quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock worth $1,928,339,000 after buying an additional 7,015,375 shares during the period. Wellington Management Group LLP lifted its position 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 buying an additional 7,598,146 shares during the period. Finally, Fisher Asset Management LLC increased its holdings in Starbucks by 1.3% during the 4th quarter. Fisher Asset Management LLC now owns 11,916,777 shares of the coffee company’s stock valued at $1,087,406,000 after purchasing an additional 154,093 shares in the last quarter. Institutional investors own 72.29% of the company’s stock.

Starbucks Trading Up 2.2 %

SBUX stock opened at $98.11 on Monday. The business’s 50-day moving average price is $104.82 and its two-hundred day moving average price is $99.25. The firm has a market cap of $111.44 billion, a PE ratio of 31.65, a P/E/G ratio of 3.59 and a beta of 0.99. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $117.46.

Starbucks (NASDAQ:SBUX) last posted 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 negative return on equity of 44.97% and a net margin of 9.73%. During the same quarter last year, the firm earned $0.90 EPS. On average, analysts forecast that Starbucks Co. will post 2.99 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Barclays raised their price target on Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Stifel Nicolaus raised their price target on Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a report on Monday, January 27th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $115.00 price target on shares of Starbucks in a report on Friday, January 24th. Wells Fargo & Company raised their price target on Starbucks from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Tuesday, February 25th. Finally, BMO Capital Markets raised their price target on Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $105.75.

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.