Lee Danner & Bass Inc. Has $4.38 Million Holdings in Starbucks Co. (NASDAQ:SBUX)

Lee Danner & Bass Inc. lessened its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 0.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 47,965 shares of the coffee company’s stock after selling 275 shares during the quarter. Lee Danner & Bass Inc.’s holdings in Starbucks were worth $4,377,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of SBUX. Wellington Management Group LLP increased its position 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 during the last quarter. FMR LLC increased its position in Starbucks by 55.0% during the third quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock worth $1,928,339,000 after buying an additional 7,015,375 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Starbucks during the fourth quarter worth approximately $284,283,000. Assenagon Asset Management S.A. increased its position in Starbucks by 1,491.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,808,571 shares of the coffee company’s stock worth $256,282,000 after buying an additional 2,632,087 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its position in Starbucks by 1,078.5% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,545,419 shares of the coffee company’s stock worth $248,153,000 after buying an additional 2,329,431 shares during the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Wall Street Analysts Forecast Growth

SBUX has been the subject of a number of research analyst reports. Barclays boosted their price objective on Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. UBS Group boosted their price objective on Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Wedbush boosted their price objective on Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Argus upgraded Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price objective for the company in a report on Tuesday. Finally, Wells Fargo & Company boosted their price objective on Starbucks from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Tuesday, February 25th. Three research analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $106.12.

Starbucks Stock Performance

Shares of NASDAQ:SBUX opened at $99.28 on Friday. The company has a fifty day moving average of $105.31 and a 200-day moving average of $99.30. The company has a market capitalization of $112.77 billion, a PE ratio of 32.03, a price-to-earnings-growth ratio of 3.59 and a beta of 0.99. Starbucks Co. has a 52-week low of $71.55 and a 52-week 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 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 in the prior year, the firm earned $0.90 earnings per share. On average, equities analysts forecast that Starbucks Co. will post 2.99 EPS for the current fiscal year.

Starbucks Company 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.