Freestone Capital Holdings LLC Lowers Position in Starbucks Co. (NASDAQ:SBUX)

Freestone Capital Holdings LLC cut its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 11.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 57,397 shares of the coffee company’s stock after selling 7,227 shares during the quarter. Freestone Capital Holdings LLC’s holdings in Starbucks were worth $5,237,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of SBUX. Robeco Institutional Asset Management B.V. raised its holdings 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 period. Catalyst Capital Advisors LLC raised its holdings in Starbucks by 61.7% during the third quarter. Catalyst Capital Advisors LLC now owns 1,779 shares of the coffee company’s stock valued at $173,000 after acquiring an additional 679 shares during the period. Greenwood Capital Associates LLC bought a new stake in Starbucks during the third quarter valued at about $200,000. ASB Consultores LLC bought a new stake in Starbucks during the third quarter valued at about $213,000. Finally, Heritage Investors Management Corp increased its holdings in shares of Starbucks by 52.9% in the third quarter. Heritage Investors Management Corp now owns 5,961 shares of the coffee company’s stock worth $581,000 after purchasing an additional 2,063 shares during the last quarter. 72.29% of the stock is owned by institutional investors.

Starbucks Stock Performance

Shares of NASDAQ SBUX opened at $111.69 on Thursday. The stock has a 50 day moving average price of $103.55 and a 200 day moving average price of $98.89. The firm has a market capitalization 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 Co. has a 52-week low of $71.55 and a 52-week high of $117.46.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, topping 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 last year, the company earned $0.90 earnings per share. Analysts forecast that Starbucks Co. will post 2.99 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently issued reports on SBUX. BMO Capital Markets lifted 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. Stifel Nicolaus lifted their target price on Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a report on Monday, January 27th. UBS Group lifted 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. Redburn Atlantic reaffirmed a “sell” rating and issued a $77.00 target price (down from $84.00) on shares of Starbucks in a report on Wednesday, November 13th. Finally, TD Cowen reaffirmed a “buy” rating and issued a $110.00 target price on shares of Starbucks in a report on Monday, November 11th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $105.75.

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.