Starbucks Co. (NASDAQ:SBUX) Stake Lessened by King Luther Capital Management Corp

King Luther Capital Management Corp cut its stake in Starbucks Co. (NASDAQ:SBUX) by 3.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,147 shares of the coffee company’s stock after selling 1,870 shares during the period. King Luther Capital Management Corp’s holdings in Starbucks were worth $4,302,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Citizens Financial Group Inc. RI boosted its holdings in shares of Starbucks by 44.3% in the fourth quarter. Citizens Financial Group Inc. RI now owns 29,475 shares of the coffee company’s stock valued at $2,690,000 after acquiring an additional 9,047 shares in the last quarter. Sage Mountain Advisors LLC boosted its holdings in shares of Starbucks by 2.9% in the fourth quarter. Sage Mountain Advisors LLC now owns 9,413 shares of the coffee company’s stock valued at $859,000 after acquiring an additional 261 shares in the last quarter. Meriwether Wealth & Planning LLC bought a new position in shares of Starbucks in the fourth quarter valued at approximately $411,000. Daiwa Securities Group Inc. boosted its holdings in shares of Starbucks by 4.5% in the fourth quarter. Daiwa Securities Group Inc. now owns 235,919 shares of the coffee company’s stock valued at $21,528,000 after acquiring an additional 10,229 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Starbucks by 5.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 527,121 shares of the coffee company’s stock valued at $48,100,000 after acquiring an additional 28,227 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors.

Starbucks Stock Down 0.9 %

Shares of NASDAQ:SBUX opened at $98.69 on Thursday. The firm has a fifty day moving average of $104.63 and a two-hundred day moving average of $99.22. The firm has a market capitalization of $112.10 billion, a P/E ratio of 31.84, a price-to-earnings-growth 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 issued its earnings results 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 net margin of 9.73% and a negative return on equity of 44.97%. During the same quarter last year, the company posted $0.90 earnings per share. Equities research analysts expect that Starbucks Co. will post 2.99 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on SBUX. Stifel Nicolaus increased their price objective on shares of Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a report on Monday, January 27th. Barclays raised their target price on shares of Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. BMO Capital Markets raised their target price on shares of Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Wedbush raised their target price on shares of Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Finally, Redburn Atlantic restated a “sell” rating and set a $77.00 target price (down from $84.00) on shares of Starbucks in a report on Wednesday, November 13th. 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $105.75.

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.