Charles Schwab Investment Management Inc. Decreases Stake in Starbucks Co. (NASDAQ:SBUX)

Charles Schwab Investment Management Inc. decreased its position in Starbucks Co. (NASDAQ:SBUX) by 7.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,879,747 shares of the coffee company’s stock after selling 720,211 shares during the period. Charles Schwab Investment Management Inc. owned 0.78% of Starbucks worth $810,277,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Financial Life Planners purchased a new stake in shares of Starbucks during the 4th quarter worth approximately $25,000. Collier Financial purchased a new stake in shares of Starbucks during the 4th quarter worth approximately $27,000. Marshall Investment Management LLC purchased a new stake in shares of Starbucks during the 4th quarter worth approximately $30,000. Noble Wealth Management PBC purchased a new stake in shares of Starbucks during the 4th quarter worth approximately $30,000. Finally, Centricity Wealth Management LLC purchased a new stake in shares of Starbucks during the 4th quarter worth approximately $36,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Analyst Ratings Changes

SBUX has been the subject of several research analyst reports. Wells Fargo & Company raised their price target on shares of Starbucks from $115.00 to $125.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 25th. TD Cowen reiterated a “buy” rating and issued a $110.00 price objective on shares of Starbucks in a research note on Monday, November 11th. Stifel Nicolaus lifted their price objective 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. BMO Capital Markets lifted their price objective 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. Finally, Redburn Atlantic reiterated a “sell” rating and issued a $77.00 price objective (down from $84.00) on shares of Starbucks in a research note on Wednesday, November 13th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $105.75.

Starbucks Stock Performance

Shares of NASDAQ SBUX opened at $115.41 on Tuesday. The company’s fifty day moving average price is $102.67 and its 200 day moving average price is $98.68. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $117.46. The company has a market capitalization 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.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, January 28th. The coffee company reported $0.69 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 previous year, the business earned $0.90 earnings per share. On average, equities analysts expect that Starbucks Co. will post 2.99 EPS for the current 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.