Assenagon Asset Management S.A. Has $13.94 Million Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Assenagon Asset Management S.A. cut its stake in Starbucks Co. (NASDAQ:SBUX - Free Report) by 94.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 142,060 shares of the coffee company's stock after selling 2,666,511 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Starbucks were worth $13,935,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of SBUX. Vanguard Group Inc. increased its position in Starbucks by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 111,106,209 shares of the coffee company's stock worth $10,138,442,000 after buying an additional 784,432 shares during the last quarter. Capital World Investors lifted its stake in shares of Starbucks by 20.1% in the fourth quarter. Capital World Investors now owns 54,924,230 shares of the coffee company's stock valued at $5,011,796,000 after buying an additional 9,174,682 shares during the period. FMR LLC lifted its stake in Starbucks by 27.0% during the fourth quarter. FMR LLC now owns 25,128,649 shares of the coffee company's stock worth $2,292,989,000 after purchasing an additional 5,348,790 shares during the period. Geode Capital Management LLC lifted its stake in Starbucks by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 24,826,001 shares of the coffee company's stock worth $2,259,516,000 after purchasing an additional 548,245 shares during the period. Finally, Wellington Management Group LLP lifted its stake in Starbucks by 4.7% during the fourth quarter. Wellington Management Group LLP now owns 15,868,817 shares of the coffee company's stock worth $1,448,030,000 after purchasing an additional 718,880 shares during the period. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Price Performance

Starbucks stock traded down $1.06 during trading hours on Friday, hitting $93.26. The company had a trading volume of 7,115,975 shares, compared to its average volume of 11,035,461. The firm has a market cap of $105.98 billion, a PE ratio of 30.08, a PEG ratio of 3.59 and a beta of 1.00. Starbucks Co. has a one year low of $71.55 and a one year high of $117.46. The firm has a 50-day moving average of $85.17 and a 200 day moving average of $94.93.

Starbucks (NASDAQ:SBUX - Get Free Report) last announced its earnings results on Tuesday, April 29th. The coffee company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.10). Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. The business had revenue of $8.76 billion for the quarter, compared to the consensus estimate of $8.90 billion. During the same period in the prior year, the business posted $0.68 earnings per share. The firm's revenue for the quarter was up 2.3% compared to the same quarter last year. As a group, research analysts expect that Starbucks Co. will post 2.99 earnings per share for the current year.

Analyst Upgrades and Downgrades

SBUX has been the subject of several recent analyst reports. 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 report on Tuesday, March 18th. UBS Group dropped their price objective on shares of Starbucks from $105.00 to $90.00 and set a "neutral" rating for the company in a research report on Monday, April 28th. The Goldman Sachs Group upped their target price on shares of Starbucks from $85.00 to $95.00 and gave the company a "neutral" rating in a research report on Thursday. Wall Street Zen cut shares of Starbucks from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Finally, Royal Bank of Canada upped their target price on shares of Starbucks from $95.00 to $100.00 and gave the company an "outperform" rating in a research report on Wednesday. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $98.96.

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.