Norges Bank Takes Position in Starbucks Co. (NASDAQ:SBUX)

Norges Bank acquired a new stake in Starbucks Co. (NASDAQ:SBUX) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 13,641,775 shares of the coffee company’s stock, valued at approximately $1,244,812,000.

A number of other large investors have also recently bought and sold shares of SBUX. Caisse Des Depots ET Consignations acquired a new position in shares of Starbucks during the 4th quarter valued at about $3,073,000. AssuredPartners Investment Advisors LLC acquired a new position in Starbucks during the fourth quarter valued at approximately $2,438,000. NEOS Investment Management LLC raised its position in shares of Starbucks by 25.1% in the fourth quarter. NEOS Investment Management LLC now owns 148,056 shares of the coffee company’s stock valued at $13,510,000 after purchasing an additional 29,690 shares during the period. UniSuper Management Pty Ltd boosted its holdings in shares of Starbucks by 4.3% during the 4th quarter. UniSuper Management Pty Ltd now owns 384,906 shares of the coffee company’s stock worth $35,123,000 after buying an additional 16,032 shares during the period. Finally, WINTON GROUP Ltd grew its stake in Starbucks by 187.1% in the 4th quarter. WINTON GROUP Ltd now owns 149,025 shares of the coffee company’s stock valued at $13,599,000 after buying an additional 97,117 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on SBUX shares. UBS Group lifted their price target on Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. BMO Capital Markets raised their price objective on Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Wedbush upped their target price on Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Wells Fargo & Company boosted 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. Finally, Stifel Nicolaus raised their price objective on shares of Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Three research analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $106.12.

Starbucks Trading Up 2.2 %

NASDAQ:SBUX opened at $97.97 on Thursday. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $117.46. The stock has a 50-day moving average price of $105.61 and a two-hundred day moving average price of $99.47. The stock has a market cap of $111.28 billion, a price-to-earnings ratio of 31.60, a PEG ratio of 3.59 and a beta of 0.99.

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

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.