River Road Asset Management LLC Sells 122,927 Shares of Starbucks Co. (NASDAQ:SBUX)

River Road Asset Management LLC decreased its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 42.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 168,944 shares of the coffee company’s stock after selling 122,927 shares during the period. River Road Asset Management LLC’s holdings in Starbucks were worth $15,416,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Strategic Financial Concepts LLC bought a new stake in shares of Starbucks during the 4th quarter worth about $62,000. Weil Company Inc. boosted its holdings in shares of Starbucks by 31.2% during the 3rd quarter. Weil Company Inc. now owns 34,580 shares of the coffee company’s stock worth $3,371,000 after buying an additional 8,222 shares during the period. Arizona State Retirement System boosted its holdings in Starbucks by 0.8% in the 4th quarter. Arizona State Retirement System now owns 327,459 shares of the coffee company’s stock valued at $29,881,000 after purchasing an additional 2,722 shares during the period. West Michigan Advisors LLC bought a new stake in Starbucks in the 4th quarter valued at about $265,000. Finally, Wernau Asset Management Inc. bought a new stake in Starbucks in the 4th quarter valued at about $258,000. Institutional investors own 72.29% of the company’s stock.

Starbucks Price Performance

SBUX stock opened at $101.13 on Tuesday. The company has a 50 day simple moving average of $104.31 and a 200 day simple moving average of $99.19. The stock has a market cap of $114.87 billion, a price-to-earnings ratio of 32.62, a P/E/G ratio of 3.59 and a beta of 0.99. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $117.46.

Starbucks (NASDAQ:SBUX) last released 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 previous year, the business posted $0.90 earnings per share. On average, equities research analysts anticipate that Starbucks Co. will post 2.99 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on SBUX. BMO Capital Markets boosted their price objective on shares of Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. Royal Bank of Canada reissued an “outperform” rating and issued a $115.00 price objective on shares of Starbucks in a report on Friday, January 24th. Wells Fargo & Company boosted their price objective on shares of Starbucks from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Tuesday, February 25th. TD Cowen reissued a “buy” rating and issued a $110.00 price objective on shares of Starbucks in a report on Monday, November 11th. Finally, Wedbush boosted their price objective on shares of Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Starbucks has an average rating of “Moderate Buy” and an average price target of $105.75.

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.