Harbour Investment Management LLC Lowers Holdings in Starbucks Co. (NASDAQ:SBUX)

Harbour Investment Management LLC decreased its position in Starbucks Co. (NASDAQ:SBUX) by 1.7% in the fourth quarter, Holdings Channel reports. The firm owned 47,356 shares of the coffee company’s stock after selling 809 shares during the period. Starbucks accounts for 1.9% of Harbour Investment Management LLC’s investment portfolio, making the stock its 13th largest holding. Harbour Investment Management LLC’s holdings in Starbucks were worth $4,321,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. State Street Corp increased its position in shares of 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 acquiring an additional 437,218 shares during the period. Geode Capital Management LLC boosted its holdings in Starbucks by 1.4% in the third quarter. Geode Capital Management LLC now owns 24,277,756 shares of the coffee company’s stock valued at $2,358,464,000 after purchasing an additional 333,004 shares during the last quarter. FMR LLC boosted its holdings in Starbucks by 55.0% in the third 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 last quarter. Wellington Management Group LLP boosted its holdings in Starbucks by 100.6% in the third quarter. Wellington Management Group LLP now owns 15,149,937 shares of the coffee company’s stock valued at $1,476,967,000 after purchasing an additional 7,598,146 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its holdings in Starbucks by 1.3% in the fourth quarter. Fisher Asset Management LLC now owns 11,916,777 shares of the coffee company’s stock valued at $1,087,406,000 after purchasing an additional 154,093 shares during the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on SBUX. Wedbush upped their price target on shares of Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Barclays increased their target price on shares of Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Stifel Nicolaus increased their target price on shares of Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Royal Bank of Canada reissued an “outperform” rating and set a $115.00 target price on shares of Starbucks in a research note on Friday, January 24th. Finally, Wells Fargo & Company increased their target price on shares of Starbucks from $115.00 to $125.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 25th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $105.75.

Starbucks Price Performance

Shares of NASDAQ SBUX opened at $98.11 on Friday. The company has a 50 day simple moving average of $104.82 and a 200-day simple moving average of $99.22. The company has a market capitalization of $111.44 billion, a P/E ratio of 31.65, 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 announced its quarterly earnings results 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 company posted $0.90 earnings per share. As a group, research analysts expect that Starbucks Co. will post 2.99 EPS for the current 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.