Zevenbergen Capital Investments LLC Has $1.05 Million Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Zevenbergen Capital Investments LLC trimmed its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 3.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 11,482 shares of the coffee company’s stock after selling 350 shares during the quarter. Zevenbergen Capital Investments LLC’s holdings in Starbucks were worth $1,048,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of SBUX. Financial Life Planners bought a new stake in shares of Starbucks during the 4th quarter valued at $25,000. Collier Financial bought a new stake in shares of Starbucks during the 4th quarter worth $27,000. Runnymede Capital Advisors Inc. bought a new stake in shares of Starbucks during the 4th quarter worth $27,000. Marshall Investment Management LLC bought a new stake in shares of Starbucks during the 4th quarter worth $30,000. Finally, Noble Wealth Management PBC bought a new position in Starbucks in the fourth quarter valued at about $30,000. 72.29% of the stock is currently owned by institutional investors.

Starbucks Trading Down 2.2 %

Shares of SBUX opened at $97.07 on Monday. The firm’s 50-day moving average price is $105.41 and its 200-day moving average price is $99.41. The firm has a market capitalization of $110.26 billion, a price-to-earnings ratio of 31.31, a PEG 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 issued its 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 period in the previous year, the firm earned $0.90 earnings per share. On average, research analysts forecast that Starbucks Co. will post 2.99 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on SBUX. Barclays increased their price target on Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. UBS Group raised their target price on Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. BMO Capital Markets raised their target price on Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Wells Fargo & Company raised their target price on Starbucks from $115.00 to $125.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 25th. Finally, Stifel Nicolaus raised their target price on Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $106.12.

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.