Atlantic Union Bankshares Corp Lowers Stock Position in Starbucks Co. (NASDAQ:SBUX)

Atlantic Union Bankshares Corp lessened its holdings in Starbucks Co. (NASDAQ:SBUX) by 3.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 40,887 shares of the coffee company’s stock after selling 1,537 shares during the period. Atlantic Union Bankshares Corp’s holdings in Starbucks were worth $3,731,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. Robeco Institutional Asset Management B.V. lifted its position in Starbucks by 6.0% during the third quarter. Robeco Institutional Asset Management B.V. now owns 45,446 shares of the coffee company’s stock valued at $4,431,000 after acquiring an additional 2,590 shares during the last quarter. M&G PLC purchased a new stake in Starbucks during the third quarter valued at approximately $14,148,000. Graypoint LLC lifted its position in Starbucks by 21.5% during the third quarter. Graypoint LLC now owns 8,454 shares of the coffee company’s stock valued at $824,000 after acquiring an additional 1,498 shares during the last quarter. Cozad Asset Management Inc. purchased a new stake in Starbucks during the third quarter valued at approximately $241,000. Finally, Kornitzer Capital Management Inc. KS lifted its position in Starbucks by 4.0% during the third quarter. Kornitzer Capital Management Inc. KS now owns 26,116 shares of the coffee company’s stock valued at $2,546,000 after acquiring an additional 994 shares during the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Barclays increased their target price on shares of Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Stifel Nicolaus increased their target price on shares of Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Redburn Atlantic restated a “sell” rating and set a $77.00 price target (down previously from $84.00) on shares of Starbucks in a research note on Wednesday, November 13th. Wells Fargo & Company upped 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. Finally, BMO Capital Markets upped their price target on shares of Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Starbucks presently has an average rating of “Moderate Buy” and an average price target of $105.75.

Starbucks Price Performance

Shares of SBUX stock opened at $106.48 on Friday. The firm’s 50-day moving average is $104.10 and its two-hundred day moving average is $99.04. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $117.46. The company has a market capitalization of $120.95 billion, a PE ratio of 34.35, a price-to-earnings-growth ratio of 3.59 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last announced 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 net margin of 9.73% and a negative return on equity of 44.97%. During the same quarter in the previous year, the firm earned $0.90 earnings per share. Sell-side analysts forecast that Starbucks Co. will post 2.99 EPS for the current 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.