Amundi Sells 688,147 Shares of Starbucks Co. (NASDAQ:SBUX)

Amundi decreased its position in Starbucks Co. (NASDAQ:SBUX) by 12.6% during the fourth quarter, HoldingsChannel reports. The firm owned 4,770,864 shares of the coffee company’s stock after selling 688,147 shares during the quarter. Amundi’s holdings in Starbucks were worth $441,781,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of SBUX. Kuhn & Co Investment Counsel increased its position in Starbucks by 2.3% during the fourth quarter. Kuhn & Co Investment Counsel now owns 4,240 shares of the coffee company’s stock worth $387,000 after acquiring an additional 96 shares during the period. Jmac Enterprises LLC increased its position in Starbucks by 1.0% during the fourth quarter. Jmac Enterprises LLC now owns 9,995 shares of the coffee company’s stock worth $912,000 after acquiring an additional 103 shares during the period. Aspire Capital Advisors LLC increased its position in Starbucks by 0.5% during the fourth quarter. Aspire Capital Advisors LLC now owns 23,210 shares of the coffee company’s stock worth $2,118,000 after acquiring an additional 104 shares during the period. Optas LLC increased its position in Starbucks by 0.6% during the fourth quarter. Optas LLC now owns 16,711 shares of the coffee company’s stock worth $1,525,000 after acquiring an additional 105 shares during the period. Finally, Boomfish Wealth Group LLC increased its position in Starbucks by 0.7% during the fourth quarter. Boomfish Wealth Group LLC now owns 15,335 shares of the coffee company’s stock worth $1,399,000 after acquiring an additional 108 shares during the period. Institutional investors own 72.29% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SBUX. Royal Bank of Canada reaffirmed an “outperform” rating and set a $115.00 target price on shares of Starbucks in a research report on Friday, January 24th. TD Cowen reaffirmed a “buy” rating and set a $110.00 target price on shares of Starbucks in a research report on Monday, November 11th. Stifel Nicolaus boosted their target price 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. UBS Group boosted their price target on shares of Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Finally, BMO Capital Markets boosted 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. Three analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $105.75.

Starbucks Stock Up 1.0 %

Shares of NASDAQ SBUX opened at $106.48 on Friday. The firm’s 50-day simple moving average is $104.10 and its 200 day simple moving average is $99.08. The company has a market cap of $120.95 billion, a price-to-earnings ratio of 34.35, a price-to-earnings-growth ratio of 3.59 and a beta of 0.99. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $117.46.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate 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 in the prior year, the business posted $0.90 EPS. On average, equities analysts expect that Starbucks Co. will post 2.99 earnings per share for the current year.

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.