TD Private Client Wealth LLC Decreases Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

TD Private Client Wealth LLC reduced its position in Starbucks Co. (NASDAQ:SBUX) by 13.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 28,198 shares of the coffee company’s stock after selling 4,514 shares during the period. TD Private Client Wealth LLC’s holdings in Starbucks were worth $2,573,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Strategic Financial Concepts LLC purchased a new stake in Starbucks in the fourth quarter worth $62,000. Arizona State Retirement System increased its position in Starbucks by 0.8% in the fourth quarter. Arizona State Retirement System now owns 327,459 shares of the coffee company’s stock worth $29,881,000 after buying an additional 2,722 shares during the last quarter. West Michigan Advisors LLC purchased a new stake in Starbucks in the fourth quarter worth $265,000. Wernau Asset Management Inc. purchased a new stake in Starbucks in the fourth quarter worth $258,000. Finally, Investment Management Corp of Ontario increased its position in Starbucks by 48.6% in the third quarter. Investment Management Corp of Ontario now owns 37,584 shares of the coffee company’s stock worth $3,664,000 after buying an additional 12,300 shares during the last quarter. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Trading Down 2.2 %

NASDAQ SBUX opened at $97.07 on Friday. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $117.46. The stock has a 50-day moving average of $105.41 and a 200-day moving average of $99.32. The firm has a market cap of $110.26 billion, a PE ratio of 31.31, a price-to-earnings-growth ratio of 3.59 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last released its earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates 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 posted $0.90 earnings per share. As a group, equities research analysts forecast that Starbucks Co. will post 2.99 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently weighed in on SBUX. Wedbush lifted their price target on Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Royal Bank of Canada reiterated an “outperform” rating and issued a $115.00 price target on shares of Starbucks in a research report on Friday, January 24th. UBS Group lifted their price target on Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. BMO Capital Markets lifted their price target on Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Finally, Stifel Nicolaus lifted their price target on Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Three research analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Starbucks currently has a consensus rating of “Moderate Buy” and a consensus price target of $106.12.

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.