AGF Management Ltd. Reduces Stake in Starbucks Co. (NASDAQ:SBUX)

AGF Management Ltd. decreased its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 9.5% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 2,395 shares of the coffee company’s stock after selling 252 shares during the period. AGF Management Ltd.’s holdings in Starbucks were worth $219,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Avantax Planning Partners Inc. raised its holdings in shares of Starbucks by 3.7% in the 4th quarter. Avantax Planning Partners Inc. now owns 12,938 shares of the coffee company’s stock valued at $1,181,000 after acquiring an additional 462 shares in the last quarter. Markel Group Inc. raised its holdings in shares of Starbucks by 2.8% in the 4th quarter. Markel Group Inc. now owns 617,318 shares of the coffee company’s stock valued at $56,330,000 after acquiring an additional 17,000 shares in the last quarter. Founders Financial Alliance LLC raised its holdings in shares of Starbucks by 2.6% in the 4th quarter. Founders Financial Alliance LLC now owns 10,629 shares of the coffee company’s stock valued at $970,000 after acquiring an additional 268 shares in the last quarter. Wallace Hart LLC raised its holdings in shares of Starbucks by 19.5% in the 4th quarter. Wallace Hart LLC now owns 3,189 shares of the coffee company’s stock valued at $291,000 after acquiring an additional 520 shares in the last quarter. Finally, Cornerstone Advisors LLC raised its holdings in shares of Starbucks by 1.7% in the 4th quarter. Cornerstone Advisors LLC now owns 48,700 shares of the coffee company’s stock valued at $4,444,000 after acquiring an additional 800 shares in the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Stock Up 2.2 %

NASDAQ SBUX opened at $98.11 on Friday. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $117.46. The firm has a market capitalization of $111.44 billion, a PE ratio of 31.65, a P/E/G ratio of 3.59 and a beta of 0.99. The stock’s 50 day moving average is $104.82 and its 200 day moving average is $99.22.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, beating 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 quarter last year, the firm earned $0.90 EPS. On average, research analysts anticipate that Starbucks Co. will post 2.99 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on SBUX shares. Stifel Nicolaus raised their price target on Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a report on Monday, January 27th. Wedbush raised their price objective on Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Barclays raised their price objective on Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. BMO Capital Markets raised their price objective on Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. Finally, UBS Group raised their price objective on Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Starbucks has an average rating of “Moderate Buy” and a consensus target price of $105.75.

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.