Alliancebernstein L.P. Has $265.69 Million Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Alliancebernstein L.P. decreased its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 47.2% during the 4th quarter, Holdings Channel reports. The firm owned 2,911,687 shares of the coffee company’s stock after selling 2,604,401 shares during the period. Alliancebernstein L.P.’s holdings in Starbucks were worth $265,691,000 as of its most recent SEC filing.

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

Starbucks Stock Up 0.4 %

Starbucks stock opened at $98.09 on Tuesday. The stock has a market cap of $111.42 billion, a PE ratio of 31.64, a P/E/G ratio of 3.59 and a beta of 0.99. The business’s 50-day moving average price is $105.81 and its two-hundred day moving average price is $99.54. Starbucks Co. has a 12-month low of $71.55 and a 12-month 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 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 in the previous year, the firm posted $0.90 earnings per share. As a group, analysts expect that Starbucks Co. will post 2.99 earnings per share for the current year.

Wall Street Analyst Weigh In

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

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.