TD Asset Management Inc. Reduces Stock Position in Starbucks Co. (NASDAQ:SBUX)

TD Asset Management Inc. cut its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 4.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,085,027 shares of the coffee company’s stock after selling 103,770 shares during the period. TD Asset Management Inc. owned about 0.18% of Starbucks worth $190,259,000 as of its most recent SEC filing.

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

Starbucks Stock Up 0.2 %

Shares of SBUX opened at $95.88 on Wednesday. The business has a fifty day moving average of $105.51 and a 200 day moving average of $99.48. The company has a market cap of $108.91 billion, a PE ratio of 30.93, a P/E/G 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 released its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, topping 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 previous year, the firm posted $0.90 earnings per share. As a group, research analysts anticipate that Starbucks Co. will post 2.99 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently issued reports on SBUX shares. Stifel Nicolaus boosted their target price 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. Royal Bank of Canada restated an “outperform” rating and issued a $115.00 price objective on shares of Starbucks in a research note on Friday, January 24th. Argus raised Starbucks from a “hold” rating to a “buy” rating and set a $115.00 target price on the stock in a report on Tuesday, March 18th. Wedbush boosted their price target on Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Finally, UBS Group raised their price objective on Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Three research analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $106.12.

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.