Transamerica Financial Advisors Inc. Reduces Position in Starbucks Co. (NASDAQ:SBUX)

Transamerica Financial Advisors Inc. trimmed its holdings in Starbucks Co. (NASDAQ:SBUX) by 2.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,495 shares of the coffee company’s stock after selling 172 shares during the quarter. Transamerica Financial Advisors Inc.’s holdings in Starbucks were worth $684,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new stake in Starbucks in the fourth quarter worth $1,244,812,000. Wellington Management Group LLP grew its holdings in shares of Starbucks by 100.6% in the third quarter. Wellington Management Group LLP now owns 15,149,937 shares of the coffee company’s stock worth $1,476,967,000 after purchasing an additional 7,598,146 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Starbucks in the 4th quarter worth about $284,283,000. Assenagon Asset Management S.A. boosted its position in Starbucks by 1,491.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 2,808,571 shares of the coffee company’s stock valued at $256,282,000 after buying an additional 2,632,087 shares during the period. Finally, Zurich Insurance Group Ltd FI bought a new position in Starbucks in the 3rd quarter worth about $126,574,000. 72.29% of the stock is owned by institutional investors.

Starbucks Stock Down 1.1 %

Shares of Starbucks stock opened at $97.73 on Friday. The firm has a market capitalization of $111.01 billion, a P/E ratio of 31.53, a PEG ratio of 3.59 and a beta of 0.99. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $117.46. The company has a 50 day moving average price of $105.75 and a 200 day moving average price of $99.54.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, topping 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 quarter in the prior year, the company earned $0.90 earnings per share. As a group, research analysts anticipate that Starbucks Co. will post 2.99 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SBUX. Wells Fargo & Company lifted their price target on shares of 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 target price on Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Barclays increased their price target on Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Argus raised shares of Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price objective for the company in a research note on Tuesday, March 18th. Finally, Stifel Nicolaus raised their target price on shares of Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average 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.