Flputnam Investment Management Co. Sells 100 Shares of Starbucks Co. (NASDAQ:SBUX)

Flputnam Investment Management Co. cut its holdings in Starbucks Co. (NASDAQ:SBUX) by 2.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,522 shares of the coffee company’s stock after selling 100 shares during the quarter. Flputnam Investment Management Co.’s holdings in Starbucks were worth $321,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Opes Wealth Management LLC bought a new stake in shares of Starbucks in the third quarter worth approximately $203,000. Robeco Institutional Asset Management B.V. grew its position in Starbucks by 6.0% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 45,446 shares of the coffee company’s stock worth $4,431,000 after purchasing an additional 2,590 shares during the period. Ground Swell Capital LLC purchased a new stake in Starbucks during the 3rd quarter valued at $1,343,000. Vestor Capital LLC lifted its holdings in shares of Starbucks by 42.8% during the 3rd quarter. Vestor Capital LLC now owns 2,605 shares of the coffee company’s stock valued at $254,000 after buying an additional 781 shares during the period. Finally, Chaney Capital Management Inc. boosted its stake in shares of Starbucks by 32.9% in the 3rd quarter. Chaney Capital Management Inc. now owns 10,423 shares of the coffee company’s stock worth $1,016,000 after buying an additional 2,578 shares during the last quarter. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Starbucks Stock Performance

NASDAQ SBUX opened at $115.41 on Tuesday. The business’s 50 day moving average price is $102.67 and its 200-day moving average price is $98.68. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $117.46. The company has a market cap 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, beating 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 period in the prior year, the company earned $0.90 EPS. As a group, equities analysts predict that Starbucks Co. will post 2.99 EPS for the current year.

Analyst Ratings Changes

Several research analysts have issued reports on SBUX shares. BMO Capital Markets raised their target price on Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Wedbush boosted 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. UBS Group increased their price target on shares of Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Barclays boosted their price objective on shares of Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Finally, Wells Fargo & Company raised their target price on Starbucks from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Tuesday, February 25th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $105.75.

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.