American Century Companies Inc. Cuts Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

American Century Companies Inc. lessened its holdings in Starbucks Co. (NASDAQ:SBUX) by 6.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 698,185 shares of the coffee company’s stock after selling 47,192 shares during the period. American Century Companies Inc. owned about 0.06% of Starbucks worth $63,709,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SBUX. Strategic Financial Concepts LLC bought a new stake in Starbucks during the 4th quarter valued at $62,000. Arizona State Retirement System boosted its position in Starbucks by 0.8% during the fourth quarter. Arizona State Retirement System now owns 327,459 shares of the coffee company’s stock valued at $29,881,000 after purchasing an additional 2,722 shares in the last quarter. West Michigan Advisors LLC purchased a new position in Starbucks in the fourth quarter valued at about $265,000. Wernau Asset Management Inc. bought a new position in Starbucks in the fourth quarter worth about $258,000. Finally, Investment Management Corp of Ontario boosted its holdings in shares of Starbucks by 48.6% in the 3rd quarter. Investment Management Corp of Ontario now owns 37,584 shares of the coffee company’s stock valued at $3,664,000 after buying an additional 12,300 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on SBUX. Argus upgraded 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. Stifel Nicolaus increased their price objective on Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a report on Monday, January 27th. Wells Fargo & Company boosted their target price on Starbucks from $115.00 to $125.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 25th. Wedbush increased their price target on Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Finally, BMO Capital Markets boosted their price target on Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Starbucks presently has an average rating of “Moderate Buy” and a consensus target price of $106.12.

Starbucks Price Performance

NASDAQ:SBUX opened at $95.88 on Wednesday. The company has a 50 day moving average price of $105.51 and a 200-day moving average price of $99.48. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $117.46. The firm has a market cap of $108.91 billion, a price-to-earnings ratio of 30.93, a price-to-earnings-growth ratio of 3.59 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, topping 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 period in the prior year, the company earned $0.90 earnings per share. On average, sell-side analysts anticipate that Starbucks Co. will post 2.99 earnings per share for the current fiscal 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.