Loomis Sayles & Co. L P Sells 315,488 Shares of Starbucks Co. (NASDAQ:SBUX)

Loomis Sayles & Co. L P reduced its position in shares of Starbucks Co. (NASDAQ:SBUX) by 3.2% in the 4th quarter, HoldingsChannel reports. The firm owned 9,619,083 shares of the coffee company’s stock after selling 315,488 shares during the period. Starbucks accounts for about 94.8% of Loomis Sayles & Co. L P’s investment portfolio, making the stock its 21st largest holding. Loomis Sayles & Co. L P’s holdings in Starbucks were worth $877,741,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quest Partners LLC acquired a new position in Starbucks in the third quarter worth $115,000. The Manufacturers Life Insurance Company lifted its position in Starbucks by 19.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,181,179 shares of the coffee company’s stock worth $212,643,000 after buying an additional 357,046 shares in the last quarter. FMR LLC increased its position in Starbucks by 55.0% in the 3rd quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock valued at $1,928,339,000 after acquiring an additional 7,015,375 shares in the last quarter. Avestar Capital LLC raised its stake in shares of Starbucks by 20.3% in the third quarter. Avestar Capital LLC now owns 7,646 shares of the coffee company’s stock worth $745,000 after acquiring an additional 1,292 shares during the last quarter. Finally, Transamerica Financial Advisors Inc. lifted its position in shares of Starbucks by 25.6% during the third quarter. Transamerica Financial Advisors Inc. now owns 7,667 shares of the coffee company’s stock worth $748,000 after purchasing an additional 1,562 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Trading Up 2.2 %

Starbucks stock opened at $97.97 on Thursday. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $117.46. The company has a fifty day simple moving average of $105.61 and a 200 day simple moving average of $99.47. The company has a market cap of $111.28 billion, a P/E ratio of 31.60, a price-to-earnings-growth ratio of 3.59 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last posted its quarterly 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 quarter last year, the business posted $0.90 EPS. On average, equities research analysts forecast that Starbucks Co. will post 2.99 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently weighed in on SBUX shares. Argus raised shares of Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price target for the company in a report on Tuesday, March 18th. BMO Capital Markets upped their price target on Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Stifel Nicolaus lifted 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. Wedbush upped their target price on shares of Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Finally, Barclays lifted their price target 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. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Starbucks currently has an average rating of “Moderate Buy” and a consensus price target of $106.12.

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.