Bank of New York Mellon Corp Lowers Stock Position in Starbucks Co. (NASDAQ:SBUX)

Bank of New York Mellon Corp reduced its position in Starbucks Co. (NASDAQ:SBUX) by 10.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,993,707 shares of the coffee company’s stock after selling 1,057,145 shares during the quarter. Bank of New York Mellon Corp owned about 0.79% of Starbucks worth $820,676,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Strategic Financial Concepts LLC purchased a new position in shares of Starbucks in the 4th quarter worth about $62,000. Weil Company Inc. increased its position in 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 purchasing an additional 8,222 shares in the last quarter. Maia Wealth LLC raised its holdings in Starbucks by 69.1% in the third quarter. Maia Wealth LLC now owns 18,582 shares of the coffee company’s stock valued at $1,805,000 after buying an additional 7,596 shares during the period. Investment Management Corp of Ontario lifted its position in Starbucks by 48.6% during the third quarter. Investment Management Corp of Ontario now owns 37,584 shares of the coffee company’s stock valued at $3,664,000 after buying an additional 12,300 shares in the last quarter. Finally, Aljian Capital Management LLC boosted its position in Starbucks by 48.5% during the 3rd quarter. Aljian Capital Management LLC now owns 30,422 shares of the coffee company’s stock worth $2,966,000 after purchasing an additional 9,936 shares during the period. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Trading Up 1.2 %

Shares of Starbucks stock opened at $114.59 on Wednesday. The stock has a market capitalization of $130.16 billion, a price-to-earnings ratio of 36.96, a PEG ratio of 3.59 and a beta of 1.00. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $115.24. The business’s 50 day simple moving average is $100.58 and its 200-day simple moving average is $98.00.

Starbucks (NASDAQ:SBUX) last issued its 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 period last year, the firm earned $0.90 EPS. Sell-side analysts predict that Starbucks Co. will post 2.99 earnings per share for the current year.

Analyst Upgrades and Downgrades

SBUX has been the subject of a number of analyst reports. Wells Fargo & Company upped their price target on Starbucks from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Tuesday. TD Cowen restated a “buy” rating and issued a $110.00 target price on shares of Starbucks in a research note on Monday, November 11th. 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 note on Wednesday, January 29th. BMO Capital Markets upped their price objective on shares of Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Finally, UBS Group raised their target price on Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Three research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock 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.