HS Management Partners LLC Lowers Position in Starbucks Co. (NASDAQ:SBUX)

HS Management Partners LLC decreased its position in Starbucks Co. (NASDAQ:SBUX) by 29.8% during the 4th quarter, Holdings Channel reports. The fund owned 573,694 shares of the coffee company’s stock after selling 243,558 shares during the quarter. Starbucks comprises about 3.6% of HS Management Partners LLC’s holdings, making the stock its 16th biggest position. HS Management Partners LLC’s holdings in Starbucks were worth $52,350,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Raymond James Financial Inc. acquired a new stake in shares of Starbucks in the fourth quarter valued at about $284,283,000. Promus Capital LLC acquired a new stake in shares of Starbucks in the fourth quarter valued at about $111,000. Vision Financial Markets LLC acquired a new position in Starbucks during the fourth quarter worth about $302,000. Arizona State Retirement System raised 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 worth $29,881,000 after acquiring an additional 2,722 shares during the last quarter. Finally, Proficio Capital Partners LLC raised its position in Starbucks by 10.3% during the fourth quarter. Proficio Capital Partners LLC now owns 7,647 shares of the coffee company’s stock worth $698,000 after acquiring an additional 714 shares during the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Stock Performance

Starbucks stock opened at $111.69 on Thursday. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $117.46. The firm has a 50 day moving average price of $103.55 and a 200 day moving average price of $98.89. The company has a market cap of $126.87 billion, a price-to-earnings ratio of 36.03, a PEG ratio of 3.59 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last released its earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) 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 in the prior year, the business earned $0.90 earnings per share. Sell-side analysts predict that Starbucks Co. will post 2.99 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on SBUX shares. Wedbush lifted their target price on shares of Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Redburn Atlantic restated a “sell” rating and set a $77.00 target price (down previously from $84.00) on shares of Starbucks in a research report on Wednesday, November 13th. Barclays lifted their target price on shares of Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Royal Bank of Canada restated an “outperform” rating and set a $115.00 target price on shares of Starbucks in a research report on Friday, January 24th. Finally, UBS Group lifted their target price on shares of Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average 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.