1ST Source Bank Sells 194 Shares of Starbucks Co. (NASDAQ:SBUX)

1ST Source Bank lowered its position in shares of Starbucks Co. (NASDAQ:SBUX) by 0.7% in the fourth quarter, HoldingsChannel reports. The fund owned 29,371 shares of the coffee company’s stock after selling 194 shares during the period. 1ST Source Bank’s holdings in Starbucks were worth $2,680,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp grew its stake in shares of Starbucks by 1.0% during the third quarter. State Street Corp now owns 45,974,407 shares of the coffee company’s stock worth $4,482,045,000 after purchasing an additional 437,218 shares during the period. Geode Capital Management LLC grew its stake in shares of Starbucks by 1.4% during the third quarter. Geode Capital Management LLC now owns 24,277,756 shares of the coffee company’s stock worth $2,358,464,000 after purchasing an additional 333,004 shares during the period. FMR LLC grew its stake in shares of Starbucks by 55.0% during the third quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock worth $1,928,339,000 after purchasing an additional 7,015,375 shares during the period. Wellington Management Group LLP grew its stake in shares of Starbucks by 100.6% during the third quarter. Wellington Management Group LLP now owns 15,149,937 shares of the coffee company’s stock worth $1,476,967,000 after purchasing an additional 7,598,146 shares during the period. Finally, Fisher Asset Management LLC grew its stake in shares of Starbucks by 1.3% during the fourth quarter. Fisher Asset Management LLC now owns 11,916,777 shares of the coffee company’s stock worth $1,087,406,000 after purchasing an additional 154,093 shares during the period. Institutional investors own 72.29% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Wedbush lifted their price objective on Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. 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. Stifel Nicolaus boosted their target price on Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Barclays boosted their target price on Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Finally, Wells Fargo & Company boosted their target price on Starbucks from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Tuesday, February 25th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $105.75.

Starbucks Stock Performance

SBUX opened at $98.11 on Monday. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $117.46. The firm has a market capitalization of $111.44 billion, a PE ratio of 31.65, a PEG ratio of 3.59 and a beta of 0.99. The business’s 50-day simple moving average is $104.82 and its 200 day simple moving average is $99.25.

Starbucks (NASDAQ:SBUX) last released 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 negative return on equity of 44.97% and a net margin of 9.73%. During the same quarter last year, the firm earned $0.90 EPS. On average, research analysts forecast 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.