Associated Banc Corp Has $7.71 Million Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Associated Banc Corp cut its position in Starbucks Co. (NASDAQ:SBUX) by 4.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 84,541 shares of the coffee company’s stock after selling 4,399 shares during the period. Associated Banc Corp’s holdings in Starbucks were worth $7,714,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Financial Life Planners acquired a new stake in shares of Starbucks in the 4th quarter valued at about $25,000. Collier Financial acquired a new position in Starbucks during the 4th quarter valued at about $27,000. Marshall Investment Management LLC acquired a new position in Starbucks during the 4th quarter valued at about $30,000. Noble Wealth Management PBC acquired a new position in Starbucks during the 4th quarter valued at about $30,000. Finally, Centricity Wealth Management LLC acquired a new position in Starbucks during the 4th quarter valued at about $36,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on SBUX shares. Wells Fargo & Company lifted their price target on Starbucks from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Tuesday, February 25th. UBS Group lifted their price target on Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Royal Bank of Canada restated an “outperform” rating and issued a $115.00 target price on shares of Starbucks in a research note on Friday, January 24th. Wedbush boosted their target price on Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Finally, Stifel Nicolaus boosted their target price on Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $105.75.

Starbucks Price Performance

Shares of SBUX stock opened at $98.11 on Friday. The company’s fifty day simple moving average is $104.82 and its two-hundred day simple moving average is $99.22. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $117.46. The stock has a market capitalization of $111.44 billion, a price-to-earnings ratio of 31.65, a PEG ratio of 3.59 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, beating 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 previous year, the business posted $0.90 EPS. Equities research analysts anticipate that Starbucks Co. will post 2.99 EPS for the current year.

Starbucks 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.