Starbucks Co. (NASDAQ:SBUX) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its stake in Starbucks Co. (NASDAQ:SBUX) by 10.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,993,707 shares of the coffee company’s stock after selling 1,057,145 shares during the period. Bank of New York Mellon Corp’s holdings in Starbucks were worth $820,676,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Trifecta Capital Advisors LLC increased its stake in shares of Starbucks by 1.0% during the fourth quarter. Trifecta Capital Advisors LLC now owns 29,429 shares of the coffee company’s stock valued at $2,685,000 after acquiring an additional 290 shares during the period. CWS Financial Advisors LLC boosted its stake in Starbucks by 7.9% during the 4th quarter. CWS Financial Advisors LLC now owns 5,022 shares of the coffee company’s stock valued at $458,000 after purchasing an additional 367 shares in the last quarter. Coyle Financial Counsel LLC acquired a new position in shares of Starbucks during the 4th quarter valued at $263,000. Pine Valley Investments Ltd Liability Co raised its stake in shares of Starbucks by 1.2% in the 4th quarter. Pine Valley Investments Ltd Liability Co now owns 10,678 shares of the coffee company’s stock worth $974,000 after buying an additional 123 shares in the last quarter. Finally, Impax Asset Management Group plc lifted its holdings in shares of Starbucks by 253.5% in the fourth quarter. Impax Asset Management Group plc now owns 312,653 shares of the coffee company’s stock valued at $28,530,000 after buying an additional 224,214 shares during the period. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Stock Performance

SBUX stock opened at $114.59 on Wednesday. The firm has a 50 day simple moving average of $100.58 and a 200 day simple moving average of $98.00. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $115.24. The stock has a market cap of $130.16 billion, a P/E ratio of 36.96, a P/E/G ratio of 3.59 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, beating 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 quarter last year, the company posted $0.90 earnings per share. Sell-side analysts predict that Starbucks Co. will post 2.99 EPS for the current year.

Wall Street Analyst Weigh In

SBUX has been the topic of several research reports. Stifel Nicolaus boosted their price target on shares of Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. TD Cowen reiterated a “buy” rating and issued a $110.00 target price on shares of Starbucks in a report on Monday, November 11th. Redburn Atlantic reissued a “sell” rating and set a $77.00 target price (down from $84.00) on shares of Starbucks in a research note on Wednesday, November 13th. Citigroup lifted their price target on shares of Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Finally, Barclays upped 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. Three analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price 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.