Heartland Advisors Inc. Sells 758 Shares of Starbucks Co. (NASDAQ:SBUX)

Heartland Advisors Inc. lessened its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 2.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 26,735 shares of the coffee company’s stock after selling 758 shares during the quarter. Heartland Advisors Inc.’s holdings in Starbucks were worth $2,440,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Financial Life Planners purchased a new position in Starbucks during the fourth quarter valued at approximately $25,000. Graney & King LLC bought a new position in Starbucks in the 4th quarter valued at $26,000. Collier Financial purchased a new position in shares of Starbucks during the 4th quarter valued at $27,000. Runnymede Capital Advisors Inc. bought a new position in shares of Starbucks in the fourth quarter worth $27,000. Finally, Marshall Investment Management LLC purchased a new stake in shares of Starbucks in the fourth quarter worth $30,000. 72.29% of the stock is currently owned by institutional investors.

Starbucks Stock Performance

SBUX opened at $97.73 on Friday. The stock has a market capitalization of $111.01 billion, a PE ratio of 31.53, a price-to-earnings-growth ratio of 3.59 and a beta of 0.99. The stock’s 50 day moving average price is $105.75 and its 200-day moving average price is $99.50. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $117.46.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (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 quarter in the prior year, the company posted $0.90 EPS. Research analysts forecast that Starbucks Co. will post 2.99 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SBUX. Wedbush upped their target price on Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Argus upgraded shares of Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price objective on the stock in a research report on Tuesday, March 18th. Barclays raised their target price 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. UBS Group boosted their price target on shares of Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Finally, Stifel Nicolaus raised their price objective 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. Three research analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Starbucks currently has an average rating of “Moderate Buy” and an average price target of $106.12.

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.