Great Lakes Advisors LLC Has $12.65 Million Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Great Lakes Advisors LLC trimmed its position in Starbucks Co. (NASDAQ:SBUX) by 0.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 138,608 shares of the coffee company’s stock after selling 703 shares during the quarter. Great Lakes Advisors LLC’s holdings in Starbucks were worth $12,648,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Strategic Financial Concepts LLC bought a new stake in shares of Starbucks in the 4th quarter valued at about $62,000. Arizona State Retirement System raised its holdings in Starbucks by 0.8% in the 4th quarter. Arizona State Retirement System now owns 327,459 shares of the coffee company’s stock valued at $29,881,000 after acquiring an additional 2,722 shares during the period. West Michigan Advisors LLC bought a new position in Starbucks in the 4th quarter valued at about $265,000. Wernau Asset Management Inc. bought a new position in Starbucks in the 4th quarter valued at about $258,000. Finally, Investment Management Corp of Ontario raised its holdings in 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 acquiring an additional 12,300 shares during the period. 72.29% of the stock is owned by institutional investors.

Starbucks Price Performance

Shares of Starbucks stock opened at $98.69 on Thursday. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $117.46. The firm has a market capitalization of $112.10 billion, a P/E ratio of 31.84, a P/E/G ratio of 3.59 and a beta of 0.99. The company’s 50 day moving average price is $104.63 and its two-hundred day moving average price is $99.22.

Starbucks (NASDAQ:SBUX) last issued 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 net margin of 9.73% and a negative return on equity of 44.97%. During the same period last year, the company earned $0.90 EPS. On average, analysts expect that Starbucks Co. will post 2.99 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on SBUX shares. Royal Bank of Canada reissued an “outperform” rating and issued a $115.00 price target on shares of Starbucks in a report on Friday, January 24th. Wells Fargo & Company increased their price target on shares of Starbucks from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Tuesday, February 25th. Barclays increased their price target on shares of Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. BMO Capital Markets increased their price target on shares of Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. Finally, Wedbush raised their target price on shares of Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $105.75.

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.