US Bancorp DE Sells 52,038 Shares of Starbucks Co. (NASDAQ:SBUX)

US Bancorp DE decreased its stake in Starbucks Co. (NASDAQ:SBUX) by 5.3% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 934,466 shares of the coffee company’s stock after selling 52,038 shares during the period. US Bancorp DE’s holdings in Starbucks were worth $85,271,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Financial Life Planners purchased a new stake in Starbucks in the 4th quarter worth approximately $25,000. Collier Financial bought a new position in shares of Starbucks in the fourth quarter worth approximately $27,000. Marshall Investment Management LLC purchased a new stake in shares of Starbucks in the fourth quarter worth $30,000. Centricity Wealth Management LLC bought a new stake in shares of Starbucks during the 4th quarter valued at $36,000. Finally, Morton Brown Family Wealth LLC lifted its stake in shares of Starbucks by 43.9% during the 4th quarter. Morton Brown Family Wealth LLC now owns 505 shares of the coffee company’s stock valued at $46,000 after buying an additional 154 shares in the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Analysts Set New Price Targets

SBUX has been the subject of a number of analyst reports. Stifel Nicolaus increased their price target on Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Wells Fargo & Company increased their target price on Starbucks from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 25th. Wedbush boosted their price target on Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Redburn Atlantic restated a “sell” rating and issued a $77.00 price target (down from $84.00) on shares of Starbucks in a research note on Wednesday, November 13th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $115.00 price objective on shares of Starbucks in a research report on Friday, January 24th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $105.75.

Starbucks Stock Performance

Shares of Starbucks stock opened at $115.81 on Friday. The stock has a market cap of $131.55 billion, a price-to-earnings ratio of 37.36, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00. The stock has a 50 day moving average price of $102.11 and a 200-day moving average price of $98.51. Starbucks Co. has a one year low of $71.55 and a one year high of $116.09.

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