Starbucks Co. (NASDAQ:SBUX) Shares Sold by Jag Capital Management LLC

Jag Capital Management LLC lessened its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 3.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,889 shares of the coffee company’s stock after selling 300 shares during the quarter. Jag Capital Management LLC’s holdings in Starbucks were worth $720,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Strategic Financial Concepts LLC acquired a new stake in Starbucks during the 4th quarter valued at approximately $62,000. Weil Company Inc. grew its stake in Starbucks by 31.2% during the 3rd quarter. Weil Company Inc. now owns 34,580 shares of the coffee company’s stock valued at $3,371,000 after purchasing an additional 8,222 shares in the last quarter. West Michigan Advisors LLC bought a new position in Starbucks during the 4th quarter worth approximately $265,000. Maia Wealth LLC lifted its holdings in Starbucks by 69.1% during the 3rd quarter. Maia Wealth LLC now owns 18,582 shares of the coffee company’s stock worth $1,805,000 after buying an additional 7,596 shares during the last quarter. Finally, Investment Management Corp of Ontario lifted its holdings in Starbucks by 48.6% during the 3rd quarter. Investment Management Corp of Ontario now owns 37,584 shares of the coffee company’s stock worth $3,664,000 after buying an additional 12,300 shares during the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. BMO Capital Markets increased their target price on Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Barclays increased their target price on Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $115.00 target price on shares of Starbucks in a report on Friday, January 24th. UBS Group increased their target price on Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Finally, Redburn Atlantic reaffirmed a “sell” rating and set a $77.00 target price (down previously from $84.00) on shares of Starbucks in a report on Wednesday, November 13th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Starbucks presently has a consensus rating of “Moderate Buy” and a consensus target price of $105.75.

Starbucks Stock Performance

Shares of SBUX stock opened at $115.41 on Tuesday. The stock has a market cap of $131.09 billion, a PE ratio of 37.23, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00. The business’s fifty day moving average is $102.67 and its 200-day moving average is $98.68. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $117.46.

Starbucks (NASDAQ:SBUX) last issued its quarterly 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 negative return on equity of 44.97% and a net margin of 9.73%. During the same quarter in the prior year, the business earned $0.90 EPS. Equities research analysts predict 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.