Zions Bancorporation N.A. Has $2.07 Million Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Zions Bancorporation N.A. increased its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 8.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,699 shares of the coffee company’s stock after purchasing an additional 1,802 shares during the period. Zions Bancorporation N.A.’s holdings in Starbucks were worth $2,071,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Starbucks by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 111,106,209 shares of the coffee company’s stock valued at $10,138,442,000 after purchasing an additional 784,432 shares in the last quarter. State Street Corp increased its stake in Starbucks by 1.0% in the 3rd quarter. State Street Corp now owns 45,974,407 shares of the coffee company’s stock valued at $4,482,045,000 after buying an additional 437,218 shares during the last quarter. Geode Capital Management LLC lifted its position in Starbucks by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 24,277,756 shares of the coffee company’s stock worth $2,358,464,000 after buying an additional 333,004 shares in the last quarter. FMR LLC grew its holdings in shares of Starbucks by 55.0% in the 3rd quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock valued at $1,928,339,000 after acquiring an additional 7,015,375 shares in the last quarter. Finally, Wellington Management Group LLP raised its holdings in 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 acquiring an additional 7,598,146 shares in the last quarter. Institutional investors own 72.29% of the company’s stock.

Analyst Upgrades and Downgrades

SBUX has been the subject of several analyst reports. Wedbush raised their target price on shares of Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Royal Bank of Canada reiterated an “outperform” rating and issued a $115.00 target price on shares of Starbucks in a research note on Friday, January 24th. Argus raised 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, March 18th. BMO Capital Markets upped their price objective on Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Finally, Wells Fargo & Company lifted their target price on Starbucks from $115.00 to $125.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 25th. Three equities 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 issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $106.12.

Starbucks Stock Performance

NASDAQ:SBUX opened at $95.88 on Wednesday. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $117.46. The company has a market cap of $108.91 billion, a price-to-earnings ratio of 30.93, a PEG ratio of 3.59 and a beta of 0.99. The stock has a fifty day moving average price of $105.51 and a 200-day moving average price of $99.48.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data 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 net margin of 9.73% and a negative return on equity of 44.97%. During the same quarter in the prior year, the business earned $0.90 EPS. Research analysts predict that Starbucks Co. will post 2.99 EPS for the current fiscal year.

Starbucks Company 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.