Starbucks Co. (NASDAQ:SBUX) Shares Sold by Bellevue Asset Management LLC

Bellevue Asset Management LLC lessened its holdings in Starbucks Co. (NASDAQ:SBUX) by 10.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 57,771 shares of the coffee company’s stock after selling 6,397 shares during the period. Starbucks accounts for approximately 2.7% of Bellevue Asset Management LLC’s investment portfolio, making the stock its 9th biggest holding. Bellevue Asset Management LLC’s holdings in Starbucks were worth $5,272,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. SP Asset Management LLC boosted its holdings in Starbucks by 0.6% in the fourth quarter. SP Asset Management LLC now owns 84,570 shares of the coffee company’s stock worth $7,717,000 after purchasing an additional 497 shares during the period. Pinnacle Wealth Planning Services Inc. lifted its stake in Starbucks by 3.9% in the fourth quarter. Pinnacle Wealth Planning Services Inc. now owns 5,767 shares of the coffee company’s stock valued at $526,000 after buying an additional 218 shares during the last quarter. Lindbrook Capital LLC lifted its stake in Starbucks by 4.8% in the fourth quarter. Lindbrook Capital LLC now owns 12,127 shares of the coffee company’s stock valued at $1,107,000 after buying an additional 552 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Starbucks in the fourth quarter valued at $284,283,000. Finally, Promus Capital LLC bought a new stake in shares of Starbucks during the fourth quarter valued at about $111,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Stock Performance

NASDAQ:SBUX opened at $111.69 on Thursday. The company has a market capitalization of $126.87 billion, a P/E ratio of 36.03, a P/E/G ratio of 3.59 and a beta of 0.99. The stock’s 50 day moving average price is $103.55 and its 200 day moving average price is $98.89. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $117.46.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) 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 previous year, the company earned $0.90 earnings per share. As a group, sell-side analysts forecast that Starbucks Co. will post 2.99 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SBUX has been the topic of a number of recent analyst reports. UBS Group lifted their price objective on shares of Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Barclays lifted their price objective on shares of Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Wedbush boosted their price target on shares of Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. BMO Capital Markets upped their price target on shares of Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. Finally, Wells Fargo & Company upped their price target on shares of Starbucks from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Tuesday, February 25th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Starbucks currently has a consensus rating of “Moderate Buy” and a consensus price target of $105.75.

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.