Jackson Square Partners LLC Has $4.26 Million Stock Position in Starbucks Co. (NASDAQ:SBUX)

Jackson Square Partners LLC cut its position in Starbucks Co. (NASDAQ:SBUX) by 4.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 46,699 shares of the coffee company’s stock after selling 2,383 shares during the period. Jackson Square Partners LLC’s holdings in Starbucks were worth $4,261,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Quest Partners LLC bought a new position in shares of Starbucks during the third quarter valued at $115,000. Nicolet Advisory Services LLC acquired a new stake in Starbucks in the third quarter valued at $270,000. Great Valley Advisor Group Inc. raised its position in Starbucks by 11.0% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 19,002 shares of the coffee company’s stock worth $1,852,000 after purchasing an additional 1,879 shares during the last quarter. Swedbank AB lifted its holdings in Starbucks by 0.4% during the 3rd quarter. Swedbank AB now owns 552,169 shares of the coffee company’s stock worth $53,831,000 after buying an additional 2,173 shares during the period. Finally, Larson Financial Group LLC grew its position in shares of Starbucks by 4.6% in the 3rd quarter. Larson Financial Group LLC now owns 22,279 shares of the coffee company’s stock valued at $2,172,000 after buying an additional 988 shares during the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently commented on SBUX. BMO Capital Markets lifted their price objective on Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Royal Bank of Canada restated an “outperform” rating and issued a $115.00 price target on shares of Starbucks in a research report on Friday, January 24th. Wedbush increased their price objective 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. Argus upgraded shares of Starbucks from a “hold” rating to a “buy” rating and set a $115.00 target price on the stock in a report on Tuesday, March 18th. Finally, Wells Fargo & Company increased their price target on Starbucks from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Tuesday, February 25th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Starbucks currently has a consensus rating of “Moderate Buy” and an average target price of $106.12.

Starbucks Stock Down 1.4 %

Shares of Starbucks stock opened at $95.72 on Tuesday. The company has a market cap of $108.73 billion, a PE ratio of 30.88, a price-to-earnings-growth ratio of 3.59 and a beta of 0.99. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $117.46. The business has a 50 day moving average price of $105.45 and a 200-day moving average price of $99.44.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, beating 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 period last year, the company posted $0.90 earnings per share. As a group, research analysts anticipate that Starbucks Co. will post 2.99 EPS for the current year.

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.