Xponance Inc. Reduces Position in Starbucks Co. (NASDAQ:SBUX)

Xponance Inc. cut its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 7.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 239,436 shares of the coffee company’s stock after selling 18,257 shares during the quarter. Xponance Inc.’s holdings in Starbucks were worth $21,849,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Wintrust Investments LLC raised its position in Starbucks by 7.1% in the fourth quarter. Wintrust Investments LLC now owns 1,411 shares of the coffee company’s stock valued at $128,000 after purchasing an additional 94 shares during the period. Kuhn & Co Investment Counsel grew its stake in Starbucks by 2.3% during the 4th quarter. Kuhn & Co Investment Counsel now owns 4,240 shares of the coffee company’s stock worth $387,000 after purchasing an additional 96 shares in the last quarter. Wellington Shields & Co. LLC grew its stake in Starbucks by 8.6% during the 4th quarter. Wellington Shields & Co. LLC now owns 1,265 shares of the coffee company’s stock worth $115,000 after purchasing an additional 100 shares in the last quarter. Mystic Asset Management Inc. grew its stake in Starbucks by 3.9% during the 4th quarter. Mystic Asset Management Inc. now owns 2,665 shares of the coffee company’s stock worth $243,000 after purchasing an additional 101 shares in the last quarter. Finally, Jmac Enterprises LLC grew its stake in Starbucks by 1.0% during the 4th quarter. Jmac Enterprises LLC now owns 9,995 shares of the coffee company’s stock worth $912,000 after purchasing an additional 103 shares in the last quarter. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Trading Up 1.0 %

Shares of SBUX opened at $99.08 on Tuesday. The firm has a market capitalization of $112.54 billion, a P/E ratio of 31.96, a price-to-earnings-growth ratio of 3.59 and a beta of 0.99. The stock’s fifty day simple moving average is $104.94 and its 200 day simple moving average is $99.28. Starbucks Co. has a twelve month low of $71.55 and a twelve 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 for the quarter, topping 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 last year, the company posted $0.90 EPS. Sell-side analysts predict that Starbucks Co. will post 2.99 earnings per share for the current year.

Analyst Ratings Changes

SBUX has been the subject of several analyst reports. Wedbush upped their price objective on Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Stifel Nicolaus upped their price objective on Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. BMO Capital Markets upped their price objective on Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. UBS Group upped their price objective on Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $115.00 target price on shares of Starbucks in a report on Friday, January 24th. Three 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 company. According to data from MarketBeat.com, Starbucks has a consensus rating of “Moderate Buy” and an average 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.