OVERSEA CHINESE BANKING Corp Ltd Sells 29,655 Shares of Starbucks Co. (NASDAQ:SBUX)

OVERSEA CHINESE BANKING Corp Ltd reduced its position in Starbucks Co. (NASDAQ:SBUX) by 51.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 28,271 shares of the coffee company’s stock after selling 29,655 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Starbucks were worth $2,608,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Generali Asset Management SPA SGR bought a new stake in Starbucks in the 4th quarter valued at about $3,181,000. Horizon Investments LLC increased its position in shares of Starbucks by 2.8% during the fourth quarter. Horizon Investments LLC now owns 25,702 shares of the coffee company’s stock valued at $2,345,000 after buying an additional 702 shares during the period. Thrivent Financial for Lutherans increased its position in shares of Starbucks by 0.4% during the fourth quarter. Thrivent Financial for Lutherans now owns 63,096 shares of the coffee company’s stock valued at $5,859,000 after buying an additional 260 shares during the period. American Assets Investment Management LLC increased its position in shares of Starbucks by 50.0% during the fourth quarter. American Assets Investment Management LLC now owns 60,000 shares of the coffee company’s stock valued at $5,475,000 after buying an additional 20,000 shares during the period. Finally, PDS Planning Inc increased its position in shares of Starbucks by 5.6% during the fourth quarter. PDS Planning Inc now owns 7,023 shares of the coffee company’s stock valued at $641,000 after buying an additional 372 shares during the period. 72.29% of the stock is currently owned by institutional investors.

Starbucks Stock Performance

NASDAQ:SBUX opened at $99.19 on Thursday. The firm has a market cap of $112.67 billion, a PE ratio of 32.00, a price-to-earnings-growth ratio of 3.59 and a beta of 0.99. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $117.46. The business has a 50 day moving average price of $105.18 and a 200-day moving average price of $99.30.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Tuesday, January 28th. The coffee company reported $0.69 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 prior year, the firm earned $0.90 earnings per share. Research analysts predict that Starbucks Co. will post 2.99 EPS for the current year.

Analyst Upgrades and Downgrades

SBUX has been the topic of several analyst reports. Royal Bank of Canada reiterated an “outperform” rating and set a $115.00 price target on shares of Starbucks in a research report on Friday, January 24th. Barclays upped their price target on Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Wedbush upped their price target on Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Argus upgraded Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price target on the stock in a research report on Tuesday. Finally, UBS Group upped their price target on Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Three analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Starbucks currently has a consensus rating of “Moderate Buy” and a consensus target price 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.