Bell Bank Cuts Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Bell Bank reduced its position in shares of Starbucks Co. (NASDAQ:SBUX) by 37.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,970 shares of the coffee company’s stock after selling 5,448 shares during the period. Bell Bank’s holdings in Starbucks were worth $819,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Private Advisor Group LLC lifted its holdings in Starbucks by 1.2% during the third quarter. Private Advisor Group LLC now owns 118,946 shares of the coffee company’s stock worth $11,596,000 after acquiring an additional 1,418 shares during the period. McAdam LLC boosted its holdings in shares of Starbucks by 4.4% in the 3rd quarter. McAdam LLC now owns 6,085 shares of the coffee company’s stock worth $593,000 after buying an additional 255 shares during the last quarter. International Assets Investment Management LLC grew its position in Starbucks by 11,217.0% during the third quarter. International Assets Investment Management LLC now owns 752,355 shares of the coffee company’s stock valued at $73,347,000 after buying an additional 745,707 shares during the period. YHB Investment Advisors Inc. raised its position in Starbucks by 3.1% in the third quarter. YHB Investment Advisors Inc. now owns 5,408 shares of the coffee company’s stock worth $527,000 after acquiring an additional 162 shares during the period. Finally, Hennion & Walsh Asset Management Inc. boosted its stake in Starbucks by 31.8% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 3,766 shares of the coffee company’s stock valued at $367,000 after acquiring an additional 909 shares during the last quarter. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Starbucks Trading Down 1.4 %

Shares of NASDAQ SBUX opened at $111.75 on Friday. The business has a 50-day moving average of $99.72 and a 200-day moving average of $97.15. The firm has a market capitalization of $126.94 billion, a price-to-earnings ratio of 36.05, a PEG ratio of 3.59 and a beta of 1.00. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $114.68.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates 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 period in the previous year, the firm posted $0.90 earnings per share. On average, analysts predict that Starbucks Co. will post 2.99 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on SBUX shares. UBS Group raised their price target on shares of Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. TD Cowen reissued a “buy” rating and issued a $110.00 target price on shares of Starbucks in a research report on Monday, November 11th. Wells Fargo & Company upped their price target on Starbucks from $110.00 to $115.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. Wedbush lifted their price objective on Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $115.00 price objective on shares of Starbucks in a research note on Friday, January 24th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $105.33.

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.