LGT Fund Management Co Ltd. Sells 4,521 Shares of Starbucks Co. (NASDAQ:SBUX)

LGT Fund Management Co Ltd. reduced its position in Starbucks Co. (NASDAQ:SBUX) by 61.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,821 shares of the coffee company’s stock after selling 4,521 shares during the period. LGT Fund Management Co Ltd.’s holdings in Starbucks were worth $257,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Kuhn & Co Investment Counsel grew its position 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 during the last quarter. Jmac Enterprises LLC grew its position 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 during the last quarter. Aspire Capital Advisors LLC grew its position in Starbucks by 0.5% during the 4th quarter. Aspire Capital Advisors LLC now owns 23,210 shares of the coffee company’s stock worth $2,118,000 after purchasing an additional 104 shares during the last quarter. Optas LLC grew its position in Starbucks by 0.6% during the 4th quarter. Optas LLC now owns 16,711 shares of the coffee company’s stock worth $1,525,000 after purchasing an additional 105 shares during the last quarter. Finally, Boomfish Wealth Group LLC grew its position in Starbucks by 0.7% during the 4th quarter. Boomfish Wealth Group LLC now owns 15,335 shares of the coffee company’s stock worth $1,399,000 after purchasing an additional 108 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors.

Starbucks Trading Down 0.3 %

Shares of SBUX opened at $115.41 on Tuesday. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $117.46. The firm has a 50-day moving average price of $102.67 and a 200 day moving average price of $98.68. The firm has a market capitalization of $131.09 billion, a P/E ratio of 37.23, a P/E/G ratio of 3.59 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last announced 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 net margin of 9.73% and a negative return on equity of 44.97%. During the same quarter last year, the firm earned $0.90 earnings per share. Equities research analysts predict that Starbucks Co. will post 2.99 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SBUX has been the topic of several recent research reports. Stifel Nicolaus upped 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. BMO Capital Markets boosted their target price on shares of Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Wedbush upped their price objective on shares of Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Barclays upped their price objective on shares of Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $115.00 price objective on shares of Starbucks in a research report on Friday, January 24th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Starbucks has an average 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.