Bridges Investment Management Inc. Sells 103 Shares of Starbucks Co. (NASDAQ:SBUX)

Bridges Investment Management Inc. lowered its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 2.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,580 shares of the coffee company’s stock after selling 103 shares during the quarter. Bridges Investment Management Inc.’s holdings in Starbucks were worth $327,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of SBUX. Wellington Management Group LLP grew 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 buying an additional 7,598,146 shares in the last quarter. FMR LLC grew its stake in 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 purchasing an additional 7,015,375 shares during the period. Assenagon Asset Management S.A. grew its stake in Starbucks by 1,491.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 2,808,571 shares of the coffee company’s stock valued at $256,282,000 after purchasing an additional 2,632,087 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its stake in Starbucks by 1,078.5% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,545,419 shares of the coffee company’s stock valued at $248,153,000 after purchasing an additional 2,329,431 shares during the period. Finally, Zurich Insurance Group Ltd FI bought a new position in Starbucks in the 3rd quarter valued at $126,574,000. Institutional investors own 72.29% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on SBUX shares. 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. Stifel Nicolaus upped their price objective on Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Royal Bank of Canada restated an “outperform” rating and issued a $115.00 price objective on shares of Starbucks in a research note on Friday, January 24th. Wells Fargo & Company upped their price target on Starbucks from $115.00 to $125.00 and gave the company an “overweight” rating in a research report on Tuesday, February 25th. Finally, 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. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $105.75.

Starbucks Stock Down 0.3 %

NASDAQ:SBUX opened at $115.41 on Tuesday. The business’s 50-day moving average price is $102.67 and its two-hundred day moving average price is $98.68. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $117.46. The stock has a market cap of $131.09 billion, a P/E ratio of 37.23, a PEG ratio of 3.59 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, beating the consensus estimate 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 company posted $0.90 EPS. On average, equities research analysts expect that Starbucks Co. will post 2.99 EPS 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.