ING Groep NV Has $8.38 Million Holdings in Starbucks Co. (NASDAQ:SBUX)

ING Groep NV lessened its stake in Starbucks Co. (NASDAQ:SBUX) by 6.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 91,815 shares of the coffee company’s stock after selling 6,315 shares during the quarter. ING Groep NV’s holdings in Starbucks were worth $8,378,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Wellington Management Group LLP lifted its holdings in Starbucks by 100.6% during the 3rd quarter. Wellington Management Group LLP now owns 15,149,937 shares of the coffee company’s stock valued at $1,476,967,000 after purchasing an additional 7,598,146 shares during the last quarter. FMR LLC lifted its holdings in Starbucks by 55.0% during the 3rd quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock valued at $1,928,339,000 after purchasing an additional 7,015,375 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in Starbucks by 1,491.4% during 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 purchasing an additional 2,632,087 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in Starbucks by 1,078.5% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,545,419 shares of the coffee company’s stock valued at $248,153,000 after purchasing an additional 2,329,431 shares during the last quarter. Finally, Zurich Insurance Group Ltd FI acquired a new stake in Starbucks during the 3rd quarter valued at $126,574,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on SBUX shares. BMO Capital Markets raised their price target on Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. TD Cowen reiterated a “buy” rating and set a $110.00 price objective on shares of Starbucks in a research report on Monday, November 11th. Wells Fargo & Company increased their price objective on Starbucks from $110.00 to $115.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. Stifel Nicolaus increased their price objective on Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Finally, Citigroup increased their price objective on Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $105.33.

Starbucks Stock Down 1.4 %

Starbucks stock opened at $111.75 on Friday. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $114.68. The business’s 50-day moving average price is $99.72 and its two-hundred day moving average price is $97.15. The stock has a market cap of $126.94 billion, a PE ratio of 36.05, a P/E/G ratio of 3.56 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 EPS 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 quarter last year, the business earned $0.90 EPS. As a group, analysts expect that Starbucks Co. will post 2.99 earnings per share for the current year.

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.