Vestcor Inc Has $1.87 Million Stock Position in Starbucks Co. (NASDAQ:SBUX)

Vestcor Inc cut its stake in Starbucks Co. (NASDAQ:SBUX) by 8.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,464 shares of the coffee company’s stock after selling 1,852 shares during the period. Vestcor Inc’s holdings in Starbucks were worth $1,867,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Strategic Financial Concepts LLC acquired a new position in Starbucks during the fourth quarter valued at approximately $62,000. Arizona State Retirement System increased 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 buying 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 increased 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 buying an additional 12,300 shares during the period. 72.29% of the stock is owned by institutional investors.

Analyst Ratings Changes

SBUX has been the topic of a number of research analyst reports. Wedbush raised their price target on shares of Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Royal Bank of Canada restated an “outperform” rating and issued a $115.00 price target on shares of Starbucks in a research note on Friday, January 24th. Barclays raised their price target on shares of Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Stifel Nicolaus raised their price target on shares of Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Finally, Wells Fargo & Company raised their price target on shares of Starbucks from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Tuesday, February 25th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Starbucks has a consensus rating of “Moderate Buy” and a consensus target price of $105.75.

Starbucks Stock Up 2.2 %

NASDAQ:SBUX opened at $98.11 on Friday. The company has a fifty day moving average of $104.82 and a 200-day moving average of $99.22. The firm has a market capitalization of $111.44 billion, a P/E ratio of 31.65, a P/E/G ratio of 3.59 and a beta of 0.99. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $117.46.

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

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.