FineMark National Bank & Trust Sells 1,307 Shares of Starbucks Co. (NASDAQ:SBUX)

FineMark National Bank & Trust lessened its holdings in Starbucks Co. (NASDAQ:SBUX) by 2.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 56,529 shares of the coffee company’s stock after selling 1,307 shares during the quarter. FineMark National Bank & Trust’s holdings in Starbucks were worth $5,158,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Wellington Management Group LLP grew its holdings in Starbucks by 100.6% during the third quarter. Wellington Management Group LLP now owns 15,149,937 shares of the coffee company’s stock valued at $1,476,967,000 after purchasing an additional 7,598,146 shares during the period. FMR LLC boosted its position in shares of Starbucks by 55.0% during the third quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock worth $1,928,339,000 after buying an additional 7,015,375 shares during the period. Raymond James Financial Inc. bought a new position in shares of Starbucks during the 4th quarter worth approximately $284,283,000. Assenagon Asset Management S.A. grew its position in Starbucks by 1,491.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,808,571 shares of the coffee company’s stock valued at $256,282,000 after purchasing an additional 2,632,087 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Starbucks by 1,078.5% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,545,419 shares of the coffee company’s stock valued at $248,153,000 after acquiring an additional 2,329,431 shares during the last quarter. 72.29% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on SBUX shares. Royal Bank of Canada restated an “outperform” rating and set a $115.00 target price on shares of Starbucks in a report on Friday, January 24th. Wedbush upped their price objective on Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Wells Fargo & Company lifted their price target on shares of Starbucks from $115.00 to $125.00 and gave the company an “overweight” rating in a research report on Tuesday, February 25th. Argus raised shares of Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price objective for the company in a research report on Tuesday, March 18th. Finally, Barclays raised their target price on Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Three analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Starbucks currently has an average rating of “Moderate Buy” and an average target price of $106.12.

Starbucks Price Performance

NASDAQ SBUX opened at $95.72 on Tuesday. The stock has a market capitalization of $108.73 billion, a P/E ratio of 30.88, a P/E/G ratio of 3.59 and a beta of 0.99. Starbucks Co. has a one year low of $71.55 and a one year high of $117.46. The business has a 50 day simple moving average of $105.45 and a 200 day simple moving average of $99.44.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Tuesday, January 28th. The coffee company reported $0.69 EPS 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 in the prior year, the company earned $0.90 earnings per share. Equities analysts expect that Starbucks Co. will post 2.99 earnings per share 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.