Saratoga Research & Investment Management Has $48.41 Million Position in Starbucks Co. (NASDAQ:SBUX)

Saratoga Research & Investment Management lessened its holdings in Starbucks Co. (NASDAQ:SBUX) by 3.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 530,477 shares of the coffee company’s stock after selling 18,245 shares during the period. Starbucks comprises approximately 2.4% of Saratoga Research & Investment Management’s portfolio, making the stock its 18th biggest position. Saratoga Research & Investment Management’s holdings in Starbucks were worth $48,406,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Financial Life Planners purchased a new stake in Starbucks in the 4th quarter worth approximately $25,000. Graney & King LLC acquired a new position in shares of Starbucks in the fourth quarter worth $26,000. Collier Financial purchased a new stake in shares of Starbucks during the fourth quarter worth $27,000. Runnymede Capital Advisors Inc. acquired a new stake in Starbucks during the fourth quarter valued at $27,000. Finally, Marshall Investment Management LLC purchased a new position in Starbucks in the fourth quarter valued at about $30,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. BMO Capital Markets raised their price target 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 price objective on shares of Starbucks from $115.00 to $125.00 and gave the company an “overweight” rating in a research report on Tuesday, February 25th. Argus raised shares of Starbucks from a “hold” rating to a “buy” rating and set a $115.00 target price for the company in a research report on Tuesday, March 18th. Wedbush raised their price target on shares of Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $115.00 price objective on shares of Starbucks in a report on Friday, January 24th. 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 stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $106.12.

Starbucks Stock Down 1.1 %

Shares of SBUX opened at $97.73 on Monday. The stock’s 50-day moving average price is $105.75 and its 200 day moving average price is $99.55. The firm has a market capitalization of $111.01 billion, a price-to-earnings ratio of 31.53, a P/E/G 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 released its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (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 quarter in the previous year, the firm earned $0.90 EPS. Equities research analysts expect 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.