Nomura Asset Management Co. Ltd. Trims Stake in Starbucks Co. (NASDAQ:SBUX)

Nomura Asset Management Co. Ltd. lessened its position in shares of Starbucks Co. (NASDAQ:SBUX) by 0.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 382,507 shares of the coffee company’s stock after selling 2,541 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Starbucks were worth $34,904,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SBUX. Norges Bank acquired a new stake in shares of Starbucks during the 4th quarter valued at about $1,244,812,000. Wellington Management Group LLP boosted its position 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 worth $1,476,967,000 after purchasing an additional 7,598,146 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Starbucks in the fourth quarter valued at approximately $284,283,000. Assenagon Asset Management S.A. increased its position in shares of 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 buying an additional 2,632,087 shares in the last quarter. Finally, Zurich Insurance Group Ltd FI acquired a new position in shares of Starbucks during the 3rd quarter worth approximately $126,574,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on SBUX. Argus raised shares of Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price target on the stock in a research note on Tuesday, March 18th. Stifel Nicolaus lifted their target price on shares of Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. 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. Royal Bank of Canada restated an “outperform” rating and set a $115.00 price target on shares of Starbucks in a research report on Friday, January 24th. Finally, Wedbush increased their price objective on shares of Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. 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 given a strong buy rating to the company. According to MarketBeat.com, Starbucks presently has an average rating of “Moderate Buy” and an average target price of $106.12.

Starbucks Trading Down 1.1 %

SBUX stock opened at $97.73 on Friday. The company has a market capitalization of $111.01 billion, a PE ratio of 31.53, a P/E/G ratio of 3.59 and a beta of 0.99. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $117.46. The business’s fifty day moving average price is $105.75 and its 200 day moving average price is $99.50.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data 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 period last year, the business posted $0.90 EPS. Research analysts predict that Starbucks Co. will post 2.99 EPS for the current fiscal year.

Starbucks Company 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.